Business

Logistics firms asked to strengthen connectivity

Minister of Industry and Trade Tran Tuan Anh has stressed the need for logistics firms to intensify connectivity and expand financial scales in order to further develop the sector.
Logistics firms asked to strengthen connectivity ảnh 1A view of Chua Ve container port in Hai Phong city (Photo: VNA)

Hanoi (VNA) – Minister ofIndustry and Trade Tran Tuan Anh has stressed the need for logistics firms tointensify connectivity and expand financial scales in order to further developthe sector.

Currently, most of logistics firms aremicro-, small- and medium-sized ones, which hampers the effectiveness oflogistics activities, Anh told reporters on the sidelines of a nationalconference in Hanoi on April 16 to seek ways to reduce logistic expenses andimprove transport connectivity.

He suggested the firms apply informationtechnology in administration as e-commerce continues developing and is becominga driving force for the development of trade in general and logisticsactivities in particular.

Businesses operating in this sector were advised to gain access to theGovernment’s development programmes.

The minister also emphasised the importanceof maintaining a dialogue mechanism for enterprises and the Government.

[PM Nguyen Xuan Phuc: High logistic costs place burden on businesses]

Regarding the sector’s shortcomings,Minister Anh pointed to the limited capacity of the economy and businessesthemselves, especially in technology and human resources.

The State management on trade, particularlyin specialised inspections and import-export activities, remains weak, whichresults in losses in both time and money for businesses.

In addition, asynchronous transportationinfrastructure leads to high costs of logistics services, Anh added.

According to the World Bank, Vietnam ranked64th amongst 160 countries in the Logistics Performance Index in 2016. TheSoutheast Asian country’s logistic sector records an annual average growth rateof 14-16 percent.

However, the expenses for logistic servicesaccounted for 20.9 percent of Vietnam’s gross domestic product (GDP), of whichtransportation costs amount to 59 percent.

The shipping costs of a 40 feet containerfrom Hanoi to Ho Chi Minh City (excluding loading and unloading costs) isestimated at 40 million VND (1,762 USD), 9.7 times higher than that of sea routesand 2.5 times higher than that of railways, according to Ministry ofTransport.-VNA
VNA
#Minister of Industry and Trade Tran Tuan Anh #logistics firms #logistics activities #logistic expenses #transport connectivity #logistics services #shipping costs #updated Vietnam news #Vietnamplus #Vietnam News Agency
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