Want to be in the loop?
subscribe to
our notification
Business News
SOME VND96 TRILLION NEEDED FOR LOGISTICS DEVELOPMENT IN NEXT 10 YEARS
In the next 10 years, VND95.8 trillion will be needed for the development of the logistics sector in HCMC to fulfill the target of contributing 12% to the gross regional domestic product (GRDP) in 2030, according to a plan for logistics development in HCMC until 2025 with a vision toward 2030, which has been passed.
As the logistics sector plays a key role in transporting local and imported goods, the city will improve logistics infrastructure, including building ring roads and expressways and connecting them with many provinces in the southern region.
Besides, the city will boost the transportation of goods by sea and rail and foster multimodal transport to logistics centers, cargo storage centers and inland container depots.
The plan also presented seven locations for the construction of logistics centers, including Long Binh in District 9, Cat Lai in districts 2 and 9, Linh Trung in Thu Duc District, the Hi-Tech Park in District 9, Tan Kien in Binh Chanh District and Cu Chi and Hiep Phuoc in Nha Be District.
Given the various solutions, HCMC targets the growth rate of revenue from logistics services at enterprises at 15% in 2025 and at 20% in 2030. The contribution of the logistics sector to the city’s GRDP is expected to reach 10% in 2025 and 12% in 2030.
Even though HCMC currently has over 1,500 warehouses, these facilities are working ineffectively and unprofessionally. Meanwhile, as for waterway transport, the Tan Cang and Cat Lai terminals are facing an overload and traffic jams during rush hour, while the Tan Cang-Hiep Phuoc Port is not large enough to handle huge volumes of cargo.
Narrow river sections and the limited depth of rivers in HCMC have prevented many ports in the city from handling large vessels, VnExpress news site reported.
Source: The Saigon Times
Related News
![Card image cap](/uploads/Promotion news/2024/Promo/Untitled%20design%20%281%29.png)
XIN CHÀO HÀ NỘI: CROSS-BORDER GROWTH WITH E-COMMERCE AND DIGITAL SOLUTIONS
UOB Vietnam organize the "Xin Chào Hà Nội: Cross-border Growth with E-commerce and Digital Solutions" Programme with the desire of to help businesses equip themselves with knowledge on how to apply relevant technologies in developing cross-border e-commerce strategies.
![Card image cap](/uploads/news/F%20%26%20B.jpg)
30,000 F&B OUTLETS SHUT DOWN IN FIRST SIX MONTHS OF 2024
As of the end of June, Vietnam had around 304,700 F&B stores, down 4 per cent compared to the same period last year. More than 30,000 stores have closed nationwide, with a limited number of new openings, according to market analysis by iPOS.vn.
![Card image cap](/uploads/news/Investment7.jpg)
MINISTRY DRAFTS PROJECT ON HUMAN RESOURCES DEVELOPMENT FOR SEMICONDUCTOR INDUSTRY
MPI Deputy Minister Nguyen Thi Bich Ngoc said that the building of the project is crucial, especially in the current period. She said that the ministry has collected opinions from ministries, sectors, localities, research institutes, and universities while listening to ideas from domestic and foreign experts.
![Card image cap](/uploads/news/Industry%20zone4.jpg)
VINH PHUC TO DEVELOP 24 INDUSTRIAL PARKS BY 2030
According to the plan endorsed by the Prime Minister of Vietnam, Vinh Phuc province is set to establish five new industrial parks by 2030, increasing the total number of parks to 24 and expanding the land area to 7,000 hectares.
![Card image cap](/uploads/news/Port%204.jpg)
LOGISTICS GROUPS BRANCH OUT FOR GAINS
Deputy director Tran Hong Kien said, “In the next five years, our revenue and profit are expected to grow continuously on an annual basis at an average rate of about 11 and 23 per cent, respectively. Return on equity is expected to reach about 14 per cent a year on average. This is a good performance compared to other companies in the same industry.”
![Card image cap](/uploads/news/Finance%208.jpg)
CROSS-BORDER E-COMMERCE TO BE BOOSTED
As Vietnam is an export-oriented economy with abounding potential for the development of textile apparel, footwear, rice and agricultural products, the room for cross-border e-commerce development proves enormous, Anh added.