Specifically, in the first seven months of 2024, the logistics sector contributed to a 17.1% increase in Vietnam's total import-export turnover compared to the same period in 2023, reaching 439.88 billion USD, according to information presented at the Vietnam International Logistics Exhibition 2024 (VILOG 2024).

VILOG 2024 took place in the context of Vietnam's logistics industry continuing to grow both in scale and quality. According to the World Bank, the Asia-Pacific GDP is expected to grow by 4.5% this year, higher than the global average of 3.1%. As a dynamic global center of production, consumption, and innovation, Asia's economic recovery is clearly reflected in the flow of trade, with Vietnam standing out.

In detail, amidst the region's overall recovery, Vietnam recorded an impressive growth rate of 6.42% in the first half of the year. The country’s role as a favored production destination for multinational corporations in the shift of supply chains is becoming increasingly evident. In the past six months, Vietnam attracted over 1,500 FDI projects with registered capital exceeding 9.5 billion USD, an 18.9% increase in the number of projects and a 46.9% rise in capital compared to the same period in 2023.

"With the backdrop of Asia's economy continuing to recover and Vietnam increasingly holding an important position in the global supply chain," ITL leadership shared.

Returning to the logistics market, the potential is further demonstrated by the business performance of companies in the sector during the first half of the year. According to the Strategic Report from Viet Dragon Securities Corporation (VDSC), the value of sea freight container imports and exports reached 103 billion USD (up 10% year-on-year) and 68 billion USD (up 8% year-on-year) respectively. Consequently, revenue recorded in the second quarter for port and sea transport enterprises saw strong growth.

Specifically, Gemadept (GMD) reported net revenue of 1,181 billion VND, a 29% increase compared to the same period last year. In particular, port and logistics operations accounted for 985 billion VND and 196 billion VND, respectively. Revenue grew robustly thanks to the container handling segment, especially in the southern region, where both volume and handling fees surged. It is estimated that the after-tax profit attributable to the parent company's shareholders reached 303 billion VND, primarily driven by the Gemalink port (a 50% increase year-on-year after excluding extraordinary income from the liquidation of Nam Hai Dinh Vu port in Q2 2023).

Similarly, Vietnam Container Shipping JSC (VSC) recorded revenue of 718 billion VND in the second quarter, a 20% increase year-on-year. The after-tax profit attributable to the parent company's shareholders reached 68 billion VND, 2.4 times higher than the same period last year, primarily due to financial revenue. Profit from core business operations reached 143 billion VND, a 46% increase year-on-year.

Not to be outdone, Hai An Transport and Stevedoring JSC (HAH) posted revenue and after-tax profit attributable to the parent company's shareholders of 949 billion VND and 110 billion VND, respectively, corresponding to increases of 55% and 15% year-on-year. According to the explanation, Hai An's revenue grew strongly due to the steady growth in container volume in both stevedoring and transport segments. Additionally, Hai An also increased the proportion of higher-priced import-export containers relative to domestic goods, with the proportion of import-export containers improving to 30-35% from 20% in the same period.

Looking ahead to the second half of the year, VDSC believes that import-export demand will continue to grow positively but will decelerate as the low-base effect from the same period last year diminishes, given that trade flows have improved since the second half of 2023.