Participants join a panel discussion at the Vietnam Logistics Conference 2024 held in HCMC on October 31 – PHOTO: ORGANIZING COMMITTEE

HCMC – Experts at the Vietnam Logistics Conference 2024 have underscored both challenges and opportunities facing Vietnam’s logistics sector, a key driver of the country’s economic growth.

The conference, held in HCMC on October 31, focused on the sector’s need to adapt to rapid technological changes and evolving global trade dynamics.

Deputy Minister of Planning and Investment Do Thanh Trung said the logistics sector has been expanding at an annual rate of 14-15%, generating an estimated value of US$40-42 billion.

Vietnam now has 3,000 domestic logistics companies and the presence of 25 major international players in the market. The sector currently contributes 4-5% to the country’s GDP and provides direct employment to over one million workers.

To remain competitive, Vietnamese logistics businesses are encouraged to adopt technological innovations, enhance operational efficiency, and invest in a skilled workforce.

Conference participants discussed key issues such as modernizing infrastructure, improving connectivity, and building resilience against global disruptions. The event also addressed restructuring supply chains to support sustainable development and drive digital transformation in the logistics sector.

By Le Hoang – english.thesaigontimes.vn