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Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

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28.9 C
Ho Chi Minh City
Tuesday, April 1, 2025

The potential and advantages of establishing and developing a free trade zone linked to seaports in Ba Ria-Vung Tau

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The Vietnam Logistics Forum 2024, jointly organized by the Ministry of Industry and Trade and the People’s Committee of Ba Ria-Vung Tau (BR-VT) Province, took place on December 1–2, 2024, under the theme “Free Trade Zones – A Breakthrough Solution for Logistics Growth.”

The event attracted over 500 participants, including senior leaders from various ministries, central and southeastern provincial authorities, international organizations in Vietnam, logistics and manufacturing enterprises, export-import companies, industry experts, and media representatives.

The plenary session on December 2, the forum, led by Politburo Member and Prime Minister Pham Minh Chinh alongside Minister of Industry and Trade Nguyen Hong Dien, focused on key macroeconomic and industry-wide logistics issues.

Prime Minister Pham Minh Chinh attends the Vietnam Logistics Forum 2024 held in Ba Ria-Vung Tau Province

Prime Minister Pham Minh Chinh emphasized innovation as a driving force for developing both the logistics sector and free trade zones. He highlighted BR-VT’s proactive approach through achievements reported by the Ministry of Industry and Trade, including infrastructure upgrades, diversification of transportation modes, workforce development, and improving Vietnam’s logistics performance index.

Prime Minister Pham Minh Chinh emphasized innovation in the development of the logistics sector, driving economic growth

The Prime Minister also addressed bottlenecks in logistics, such as high costs, limited recognition of Vietnam’s strategic role in global transshipment, and inadequate workforce capacity. He called for stronger intermodal connectivity and integration between storage facilities and domestic transport systems.

Vice Chairman of the Vietnam Logistics Business Association (VLA) Dang Vu Thanh delivered a compelling presentation titled “Vietnamese Logistics Enterprises at a Crossroads.” He proposed policy measures to strengthen the national fleet, particularly container ships, and promote cargo-focused airlines. Thanh underscored the importance of digital transformation, automation, and green logistics for sustainable growth.

The forum also celebrated the establishment of the BR-VT Logistics and Port Association. Minister Nguyen Hong Dien awarded certificates of merit to outstanding individuals and organizations contributing to logistics development in 2024.

A Memorandum of Understanding (MOU) signing ceremony, witnessed by Prime Minister Chinh and Minister Dien, marked new collaborative efforts. Notable agreements included partnerships between the Export-Import Bureau and BIDV Bank, BR-VT’s Department of Industry and Trade with the Vietnam Association for Logistics Manpower Development (VALOMA), and VLA with MB Bank.

Discussions on the potential of free trade zones (FTZs) highlighted BR-VT’s strategic advantages. Pham Quang Nhat, Director of the BR-VT Department of Industry and Trade, presented a vision for a seaport-linked FTZ in Cai Mep Ha, identifying this as a political and economic priority.

The thematic session titled “Free Trade Zones – Opportunities and Solutions for Realization” focused on assessing current conditions, sharing expertise, and formulating policy recommendations for the development of FTZs in Vietnam.

Analyzing internal and external factors, experts highlighted five key internal strengths: strategic location, state-of-the-art port infrastructure, multimodal connectivity, industrial hinterland, and proactive governance. Externally, global economic trends, the growing size of shipping vessels, and increasing demand for maritime transport were identified as major drivers.

The Vietnam Logistics Forum continues to serve as an annual platform for dialogue and innovation, fostering connections between logistics, production, and export-import activities while addressing the sector’s most pressing challenges and opportunities.

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