On November 29, Vietnam Report announced the Top 10 Most Reputable Logistics Companies for 2024. The recognition ceremony, co-hosted by Vietnam Report and VietNamNet, will take place in January 2025 in Hanoi.
The rankings are based on three criteria: financial performance as reflected in the latest financial reports, media reputation assessed through Media Coding methods, and surveys of the studied entities and stakeholders.
Nguồn: Vietnam Report, tháng 11/2024
The recovery of exports is becoming the main driver of the logistics industry.
2023 marked a challenging year for the global economy, with ongoing "hot" issues placing pressure on industries, particularly logistics — the economy's lifeblood. A 2023 survey by Vietnam Report found that most logistics firms faced declining business performance, with 40% experiencing significant profit drops.
In 2024, Vietnam's logistics industry is recovering strongly, thanks to export growth, government support, and improvements in global supply chains. Total cargo volume through seaports is estimated to have increased by about 14% over the first 10 months of 2024, surpassing 570 million tons. Among these, dry and container goods constituted the majority, with volumes reaching over 321 million tons and 191 million tons, respectively. Additionally, the expansion of industrial zones has boosted logistics demand. As of late June 2024, industrial zone occupancy rates averaged 81% in the North and 92% in the South. These rates are expected to rise further, supported by robust FDI inflows totaling over $27.26 billion in the first 10 months.
The recovery of logistics firms is evident in survey results comparing revenue, costs, and profit trends in the first nine months of 2023 and 2024. In 2023, revenues were severely affected, with reductions of 33.3% in the number of firms. However, in 2024, the outlook improved, with 52.9% of companies seeing significant revenue growth, while the proportion reporting declines to 11.8%. Notably, only 17.6% of companies reported cost increase issues in 2024, much lower than the 52.9% of total companies that reported revenue growth signs. Improved revenues and controlled costs have led to positive profit prospects, with 82.3% of businesses forecasting profit increases this year.
Source: Vietnam Report
Amid this context, many logistics companies remain optimistic about the prospects for 2025. Specifically, 29.4% of businesses surveyed by Vietnam Report view the industry's outlook as slightly more favorable, while 11.8% see it as significantly better. Additionally, 64.7% believe their company's situation will improve slightly, and 17.6% expect a highly favorable improvement.
Challenges, Strategies, and Policy Recommendations for Logistics Enterprises
According to surveyed businesses, the top five challenges in Vietnam's logistics market include global economic-political instability (82.4%), competition within the industry (76.5%), slow global economic growth (58.8%), legal and administrative barriers (45.3%), and insufficient quantity/quality of labor (35.3%).
Short-term strategies focus on optimizing operational costs, enhancing productivity, workforce development, and market diversification. In the long-term, businesses aim to promote digital transformation, technology adoption, ESG practices, and sustainable green logistics. However, ESG implementation remains limited, with only 28.8% in the planning stage and 31.2% partially implementing commitments, while no company has achieved comprehensive ESG integration.
The Vietnamese logistics sector is progressing significantly with government support, including administrative reform, infrastructure upgrades, technology adoption, and trade promotion policies. To further develop the industry, surveyed enterprises propose critical policy recommendations, such as investing in transportation, telecommunications, and IT infrastructure (88.2%), fostering logistics service sector growth (88.2%), simplifying administrative and customs procedures (82.4%), reducing infrastructure-related fees (70.6%), and improving the capacity of airports, seaports, and border gates (58.8%).
With active government support and proactive efforts from enterprises, Vietnam's logistics industry aims not only to overcome current limitations but also to become a leading logistics hub in the region, contributing to enhancing national competitiveness amid deep integration.
(Source: Vietnam Report)
More: ALS lọt top 10 Công ty uy tín ngành Logistics năm 2024
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