Vietnam, Republic of Korea share experience in logistics and distribution

13:35 | 14/04/2021 Cooperation

Vietnam’s Ministry of Industry and Trade (MOIT) and the Republic of Korea’s Ministry of Industry, Trade and Energy held a joint online policy dialogue in the field of logistics and distribution on April 9.

The policy dialogue on logistics and distribution between Vietnam and the Republic of Korea

According to Tran Duy Dong, Director of the MOIT’s Department of Domestic Market, Vietnam’s logistics and distribution sector has seen strong growth in recent years.

He noted the presence of technology has made the retail market more competitive and attractive with the advent of new trends such as online and multi-channel retail.

Amid the Covid-19 pandemic, online retail channels have played an increasingly more pivotal role.

In the logistics sector, with the growing number of e-commerce enterprises, many companies are employing new technologies and investing substantially in warehouses and logistical centres in order to provide a high-quality service.

However, Vietnam’s policies and legal systems concerning logistics and distribution have yet to catch up with the sector’s rapid development pace.

Therefore, Dong expected that at the conference the two sides will discuss the ROK’s policies and management experience to help Vietnamese authorities fine-tune the legal framework and encourage the participation of both domestic and foreign investors.

Discussions at the policy dialogue are also expected to work out measures to drive the development of Vietnam’s distribution sector while ensuring a harmony of interests between large retailers and small and medium-sized retailers, as well as between modern and traditional retail channels.

Theo NDO