Over 68% of Vietnam's logistics firms saw growth in Jan-Sept 2022

About 26.5 per cent of the firms that were surveyed shifted from the “recovery” group during 2019–2021 to the “maintaining growth momentum” category in 2019–2022. Among the major obstacles faced by logistics companies were competition among businesses in the same industry; political instability in the world; fluctuations in energy and input material prices; reduced demand for shopping; and supply chain-related risks, according to the Vietnam Report JSC. Moreover, fuel prices featured as a large part of the operating cost structure, which became a big issue for logistics firms.

Moreover, 63.2 per cent of the companies said that total expenses rose in the first nine months of 2022 compared to 2021. Almost one-third of those that were surveyed noted a sharp jump in fuel prices.

Almost 80 per cent of the enterprise respondents said they expected the Russia-Ukraine crisis to continue till the end of 2023 despite so many pandemic restrictions having been lifted. Furthermore, 52.6 per cent noted a decrease in the number of orders and rise in inventory. Also, some firms stated about a 40 per cent drop in orders compared to the corresponding period the previous year, the survey noted.

Among the several categories these logistics firms fell under were last-mile delivery, international freight forwarding, third-party logistics, fourth-party logistics, port operation, express, and others.

Fibre2Fashion News Desk (NB)