DUBLIN--(BUSINESS WIRE)--The "Vietnam Freight & Logistics Market Study - Market Trends, Analysis & Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The Vietnam freight & logistics market is expected to reach a market value of USD 113.32 billion by 2023, registering a CAGR of 16.56% during the forecast period (2018 - 2023). Vietnam is expected to witness substantial growth in trade, in the near future. The logistics industry in one of the fastest-growing industries in the country, but lack of a proper infrastructure, such as good road quality, acts as a fundamental reason for the increasing costs and decreasing efficiency of the logistics industry.
In Vietnam, freight forwarding activities have been increasing since the federal government implemented the open-door policy to join the free-trade agreement. Traditional forwarding activities include two arrays, which include companies engaged in the delivery of containers, such as Gemadept, Hai Min Corporation, and SoTrans. CFS service/consolidation services are dominated by foreign companies, who mainly dominate the market.
In 2017, Trinity Logistics USA and Etihad Airways collaborated to operate a 777F freighter between Vietnam's Hanoi International Airport and Ohio's Rickenbacker International Airport. This move represents that for the first time airports have been directly connected, making the transfer of goods between the two countries faster than ever.
There are large investments being made in the cold storage sector in Vietnam. A recent example is the collaborative investment project between Mekong Group's Gemadept and the Minh Phu Seafood group, with a capacity of 50,000 metric ton. The facility was built in the Industrial Park Song Hau, Hau Giang province, with a total investment of USD 46.1 million.
- DB Schenker
- Yusen Logistics
Key Topics Covered:
2. Market Overview
3. Market Dynamics
4. Vietnam Freight & logistics Market Insights, by Mode of Freight Transport Forecast
5. Vietnam Freight & Logistics Market Insights, by Function Forecast
6. Vietnam Freight & Logistics Market Insights, by End User Forecast
7. Key Company Players
8. Investment Outlook
For more information about this report visit https://www.researchandmarkets.com/research/nv8rhd/vietnam_freight?w=4