Forum seeks to boost domestic logistics growth hinh anh 1Minister of Industry and Trade Tran Tuan Anh delivers a speech at the Logistics Forum Vietnam 2020 held in Hanoi on November 26. (Photo: VNA)

Hanoi (VNA) - The Logistics Forum Vietnam 2020 was held by the Ministry of Industry and Trade (MoIT) in Hanoi on November 26, with more than 500 businesses attending.

In his address, Secretary of the Hanoi Party Committee Vuong Dinh Hue lauded the MoIT’s initiative to coordinate with the World Bank (WB) and relevant agencies to hold the forum, which offers a chance for entrepreneurs, scientists, and experts to discuss how to best promote the growth of the domestic logistics sector.

Noting that fluctuations in the region and the world, along with the COVID-19 pandemic, are affecting Vietnam, he stressed the need for cohesive and responsive efforts in overcoming the difficulties and challenges, making breakthroughs in the sector’s growth to serve socio-economic development.

In order to reduce logistic costs, Hue suggested the promotion of research and development (R&D) activities in the field.

Businesses also need to strengthen the application of achievements from the fourth Industrial Revolution in logistics services, he said.

Hue also advised enterprises to apply transport management systems using cloud computing technology that allows for the tracing of product origin and transportation routes, together with other technologies, to strengthen connections and ensure security for customers and partners.

Meanwhile, Deputy Prime Minister Trinh Dinh Dung asked the MoIT to soon establish a project on personnel matters in support of the National Steering Committee on ASEAN and National Single Window Mechanisms, while effectively implementing policies and action programmes on international economic integration, focusing on enhancing the capacity to realise international economic commitments.

He requested the Ministry of Planning and Investment coordinate with relevant agencies to promptly build a system for the compilation of logistics statistics to identify bottlenecks, and to mobilise social resources for the development of infrastructure.

Meanwhile, the Ministry of Finance was asked to propose plans to allocate financial resources for the implementation of the action plan to enhance competitiveness and develop the logistics services sector to 2025.

According to Minister of Industry and Trade Tran Tuan Anh, the COVID-19 pandemic saw logistics activities stagnate around the world.

Vietnamese businesses overall, however, benefited from the country curbing the spread of the pandemic and now have access to opportunities from new generation free trade agreements (FTA), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam FTA (EVFTA).

Vietnam’s trade revenue stood at 439.8 billion USD in the first 10 months of 2020, he said, up 2.62 percent year-on-year. Trade was still in surplus, to the tune of 18.72 billion USD.

He said that people now tend to shop online more, leading to faster digital transformation in trade and logistics.

The implementation of FTAs has also intensified competitive pressure on domestic products, especially farm produce, which is closely attached to vulnerable groups of farmers during international economic integration.

Along with a plenary system on reducing logistics costs and enhancing competitiveness amid international economic integration, participants also discussed various issues relating to logistics infrastructure and the sector’s digital transformation./.