Vietnam, Singapore talk cooperation in logistics

Representatives from agencies, associations and businesses of Vietnam and Singapore looked into the market situation, and cooperation potential and opportunities between the two countries, especially in logistics, at a seminar in Singapore on April 5.

The seminar on logistics, trade and connectivity was held under the co-sponsorship of the Agency of Foreign Trade at the Vietnamese Ministry of Industry and Trade (MoIT), the trade office at the Vietnamese Embassy in Singapore, the Singapore Chinese Chamber of Commerce & Industry (SCCCI), and the Singapore Logistics Association.

It formed part of the activities by a MoIT delegation that comes to Singapore to learn about the country’s experience and introduce business and investment opportunities in logistics between the two countries.

In his remarks, Ambassador Mai Phuoc Dung pointed to ample room for the two countries’ firms to cooperate in the sector.

SCCI Chairman Kho Choon Keng lauded Vietnam’s rapid recovery after the COVID-19 pandemic, with its GDP expected to grow 6.0% this year, saying the country remains a popular destination for Singaporean enterprises.

With its strong economic growth, and young, abundant, skilled workforce, Vietnam is luring more international investors, he said, noting that logistics services and supply chains will play an important role in spurring the national economy in the time ahead.

Statistics show that 30,000 businesses in Vietnam are operating in transportation, warehousing and delivery services. The country ranks third in the ten-member Association of Southeast Asian Nations (ASEAN) in logistics performance index (LPI).