Vietnam Logistics Market, Sea Freight Industry: Ken Research

Vietnam Logistics Market: Achieving a USD 60 Bn Milestone in 2022 with Vision 2030 and E-Commerce Logistics. What Lies Ahead for this Thriving Industry? Ken Research

1.Driving Forces: Vietnam’s Logistics Market Flourishes with Rising Economy, E-commerce Adoption, and Government Initiatives.

Vietnam Logistics Market

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  • In 2022, Vietnam’s economy achieved a growth rate of 8.0%, fueled by various factors, including the significant contribution of export-oriented manufacturing to the logistics sector’s expansion.
  • The adoption of e-commerce in Vietnam has rapidly increased, with the rate rising from 0% in 2017 to 50.0% in 2020, primarily driven by the younger population.
  • As a result of the US-China trade war and the pandemic, many manufacturers relocated their operations from China to Vietnam, attracted by the region’s low labor costs. This influx of global players has further stimulated the growth of Vietnam’s logistics sector.

 2.Vision 2030: Vietnam’s Government Focuses on Developing Infrastructure for Seamless Deliveries in the Logistics Market.

Vietnam Logistics Market

Vietnam Logistics Market

  • Under the Vision 2030, the country plans on developing over 5000 km of expressway by 2030.
  • The country also plans on developing 172 routes with a total length of 29,795 km by 2030.
  • The development of coastal roads going through 28 cities and provinces is also underway.
  • The road development in Vietnam aims to develop the national road system in a sustainable and comprehensive manner.
  • In 2022, the Prime Minister of Vietnam issued a decision on mechanism and policies for the development of inland waterways in the region that included the allotment of invest capital with encouraging factors.

3.Revolutionizing E-Commerce Logistics Warehouses: The Essential Technologies for Vietnam’s Logistics Market.

Vietnam Logistics Market

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  • Instant access to high-quality data enhances supply chain visibility. It supports inventory and process management, risk assessment, space optimization, automated documentation, and more.
  • Integrating robotic or semi-robotic technologies improves human pickers’ efficiency by reducing walking distances, optimizing routes, and seamlessly integrating with the current WMS. This leads to precise picking and packing processes.
  • An automated inventory management system is a software that enables wholesalers and distributors to manage inventory in real-time. It allows companies to retrieve inventory counts directly from suppliers through a data feed integrated into their website.
  • AGVs are effective in speeding up storage and retrieval tasks, including putaway, loading, and stock take. They are self-guided and can be equipped with forklifts and pallet carts, following predetermined paths to handle pallets, boxes, and containers.`

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