Vietnam Logistics Upgrade Crucial for $1 Trillion Trade Goal: Experts

Vietnam's logistics infrastructure requires fundamental upgrades to achieve its ambitious $1 trillion trade target, experts have stated. Leveraging its strategic location on international shipping routes and a growing production network, the nation's maritime economy is poised to become a key growth engine, with the greening of ports being central to this strategy. The Vietnam Seaports Association plans to promote the development of green ports through energy management, emission reduction, electrification, onshore power supply, renewable energy adoption, and the implementation of measurement, reporting, and verification (MRV) systems for emissions, alongside green financial solutions. This initiative is crucial for Vietnamese businesses to meet increasingly stringent market standards, especially as the EU-Vietnam Free Trade Agreement (EVFTA) progresses, enhancing competitiveness in the European market. As ring roads, metro lines, and airport connectivity infrastructure are gradually completed in the coming years, demand for housing, industrial property, retail space, and hotels is expected to expand beyond traditional urban centers. This indicates a diversification of Vietnam's economic growth, extending from manufacturing to services and real estate. Furthermore, Vietnam is experiencing rapid adoption of electric vehicles (EVs), surpassing Thailand and Indonesia, with the market growing significantly from a near-zero base in 2020. This reflects changing consumer awareness and effective government promotion. Vietnam has also been recognized as one of the world's most improved real estate markets in terms of transparency for the 2024-26 period, indicating progress in its investment environment. Hai Phong city has committed to providing decisive administrative services that lead and take responsibility, offering the best possible services to residents and the business community. These improvements in logistics, infrastructure, and market conditions lay the foundation for Vietnam to solidify its position in global supply chains and achieve sustainable economic growth. Investment in green technologies and supply chain efficiency will be particularly vital for Vietnamese electronics manufacturers to maintain their international competitiveness.