The weakness of Vietnamese logistics firms is high and uncompetitive costs, some services’ quality is not high while there is a severe competitiveness in the logistics market, according to Vietnam Logistics Association (VLA).
Another important reason for the slow development of Vietnamese logistics firms is that most of goods have been exported under FOB (free on board) term and imported under CIF (Cost, Insurance and Freight) term.
Logistics field posts the growth rate of 15-16 percent a year. The revenue of 100 leading logistics firms in Vietnam reaches US$8.74 billion with the growth rate of 15.6 percent a year.
At present, the country has 3,000 logistics firms operating in fields such as road transport, railway, seaway, inland waterway, goods verification and cargo loading and unloading.
They undertake part of international logistics service by acting as agencies for foreign firms who are cargo or vessel owners and international logistics providers.
By GIA BAO – Translated by Hai Mien
The Vietnamese Government and the European Commission (EC) have pledged to carry out the Europe-Vietnam Free Trade Agreement (EVFTA) and the Investment Protection Agreement (IPA) in a timely and effective manner.
The Vietnamese Government and the European Commission (EC) have pledged to carry out the EVFTA and the IPA in a timely and effective manner (Source: VNA)
The commitment is expressed in a joint statement issued by Vietnam’s Minister of Industry and Trade Tran Tuan Anh and European Commissioner for Trade Cecilia Cecilia Malmström following their meeting on October 19 in Brussels on the sidelines of the 12th Asia-Europe Meeting Summit (ASEM 12).
The statement said the Vietnamese Government is preparing plans to fulfill obligations under the free trade agreements while the EC stands ready to support the necessary reforms and adjustments through technical assistance.
Both sides acknowledged the relevance of the trade and sustainable development chapter of the FTA and agreed to jointly promote initiatives in this field, including the ratification of the outstanding fundamental ILO conventions.
At their meeting, both sides spoke highly of the efforts and advancement made after completing the legal review process for the two free trade pacts last summer. The Vietnamese minister lauded the European Commission for its approval and submission of the deals to the European Council for approval on October 17.
Brand Finance, the world’s leading independent branded business valuation and strategy consultancy, has valued Vietnam’s national brand at 235 billion USD, a year-on-year increase of 16 percent.
This makes the country among the top 50 most valuable national brands in the world.
The Vietnam national brand value has moved up two places from the 2017 ranking, to rank 43rd this year.
In Southeast Asia, Vietnam’s brand value ranked sixth and 613 billion USD lower than the leading country in the region Indonesia.
Brand Finance gave the A rating to Vietnam’s national brand, which meant “strong”. Singapore and Switzerland maintained their positions as the strongest national brands with rating AAA .
According to London-based Brand Finance, due to the efforts of a national mark programme called “Vietnam Value”, Vietnam’s processed food industry now contributes upwards of 17 billion USD of the country’s exports. The apparel industry makes up over 22 billion USD of exports.
“These economic contributions are absolutely crucial for Vietnam’s overall growth and would not have been entirely possible without the concentrated efforts by Vietnam’s Government,” the report said.
Vietnam has implemented the national programme “Vietnam Value” since 2003.
Topping the world’s most valuable national brands of Brand Finance this year was the United States (US) with a value of 25.899 trillion USD, followed by China (12.779 trillion USD), Germany (5.147 trillion USD), the United Kingdom (3.750 trillion USD) and Japan (3.598 trillion USD).
The report also mentions factors that have positive impacts on the US national brand value include falling tax rates, a business-friendly environment and the perception that Donald Trump’s presidency is helping corporations.
Brand Finance measures the strength and value of the national brands of 100 leading countries.
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