Vietnam has potential to become international logistics hub : FIATA President

HANOI : International Federation of Freight Forwarders Associations (FIATA) President Turgut Erkeskin stressed that Vietnam has potential to become a regional and international logistics center during a meeting with Prime Minister Pham Minh Chinh in Hanoi on July 9, according to a report from the Government News. 

Vietnam needs to mobilize all resources to develop this industry, he recommended. For his part, PM Chinh said the Vietnamese Government is building a development strategy for Vietnam’s logistics services for the 2025-2035 period, with a vision to 2045.

The Vietnamese Government will consider establishing a National Steering Committee on Logistics Services with a competent apparatus capable of assisting the cabinet in directing and accelerating the development of this crucial sector. Focus is also given to strategic infrastructure for logistics and quality workforce training, according to the PM.

The Vietnamese Government will work closely with domestic and foreign partners to create favourable conditions for economic, investment, trade and service cooperation activities, with a particular emphasis on developing logistics services to maximize benefits for all parties involved in the spirit of harmonizing benefits and sharing risks, he said.

PM Chinh proposed the FIATA to support Vietnam in human resources training. The logistics sector of Vietnam records an average annual growth rate of 14-16%, making an important contribution to increasing the country’s total export-import turnover to nearly $700 billion in 2023. In the first six months of the year, total trade value reached $370 billion, up 15.7% year-on-year.