Vietnam interested in boosting logistics partnership with S Korea

18 Apr '22

2 min read

Pic: Shutterstock

Stronger Vietnam-South Korea partnership in logistics and measures to encourage bilateral technology transfer will help improve Vietnam's capacity in the field and contribute to turning it into an industrialised nation, director of Vietnam Trade Promotion Agency (Vietrade) Vu Ba Phu told a dialogue organised by the Vietrade and the Korea Trade-Investment Promotion Agency (KOTRA) in Hanoi recently.

The policy dialogue was part of the 31st Vietnam Expo.

Phu said Vietnam currently has 69 logistics centres in different scales, mostly in industrial parks.

A number of localities such as An Giang, Ba Ria-Vung Tau, Bac Ninh, Cao Bang, Da Nang and Quang Ninh are calling for investment in their logistics sector, he noted.

With the Fourth Industrial Revolution, traditional logistics centres have evolved into new-generation ones, he said, adding that an action plan to enhance the competitiveness and development of country’s logistics sector until 2025 has been implemented to cut logistics cost and improve efficiency.

Along with developing infrastructure system and improving human resources for logistics sector, administrative procedures have been reformed for the sector, a Vietnamese newspaper reported.

According to the ministry of industry and trade (MoIT), the operational capacity of Vietnam's logistics sector in 2021 reached 3.34 points compared to 3.27 points in 2018. Vietnam also entered the list of the top 10 countries with the highest annual logistics sector growth of 14-16 per cent.

South Korea is the largest investor in Vietnam now, with more than 9,200 projects—including several in the logistics sector—under way worth $74.7 billion.

Fibre2Fashion News Desk (DS)

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