Multinational companies hold 80% market share of Vietnam's logistics
Vietnam currently has about 1,200 businesses providing freight forwarding, warehousing, loading and unloading services, freight forwarding, forwarding, logistics services ...
However, most businesses are small and medium, with an average charter capital of only 4-6 billion VND. Mr. Do Xuan Quang, president of the Vietnam Association of Logistics Services Enterprises, said that at the forum “Improving competitiveness from import-export and logistics business linkage organized by Vietnam Economic Times on 15- 11 in HCMC.
According to Quang, the competitiveness of Vietnam's logistics industry is still low, logistics costs account for 20-25% of Vietnam's total GDP, while China is 17.8% and Singapore 9%.
Notably, Vietnam's logistics enterprises mainly act as agents, or undertake subcontracting jobs. Meanwhile, about 25 multinational logistics companies operating in Vietnam account for 70-80% of the market share in providing logistics services in Vietnam.