How Vietnam’s Expanding Economy is Boosting Growth
The growing manufacturing, e-commerce, and country's burgeoning GDP have all helped Vietnam's logistics sector. The country's youthful population's quick embrace of e-commerce has also boosted demand for the growth of logistic services. Vietnam wants to grow as an export-based nation. Vietnam's logistics business has a lot of promise since the government is aggressively encouraging manufacturing investments by building economic zones and industrial parks. The logistics industry is expanding quickly. One of Vietnam's fastest growing economic sectors is logistics, whose expansion may exceed GDP. In the first three quarters of 2020, the country's import-export receipts were close to US$390 billion. According to the General Statistics Office, there has been an increase of 1.8 percent over the same time last year (GSO). By 2025, the Vietnamese government wants to see yearly growth in logistics close to 20%. Transportation through air, sea, and land helps logistic...