Logistics sector to step up digital transformation Logistics, considered a backbone of Vietnam’s economy, is among eight sectors prioritised by the national programme for digital transformation until 2025. According to the Vietnam Logistics Business Association (VLA), the sector has grown 14-16 percent annually over recent years. It now gathers together some 3,000 domestic firms and 30 others offering transnational services. Of those, 89 percent are domestic businesses and 10 percent are joint ventures while the number of foreign-funded companies represents just 1 percent of the total. The VLA said the cost of logistics in Vietnam as a proportion of GDP is 18 percent, compared to 9-14 percent in developed countries. The high cost is attributable to limited sea port infrastructure and weak cost reduction efforts. Together with fierce competition, the digital economic boom, and pressure from the COVID-19 pandemic, these have made digitisation in the sector a must. … [Read more...] about VIETNAM BUSINESS NEWS FEB. 18