HCM City hosts global logistics meet-up

Rapid economic growth and a booming logistics industry would help Viet Nam attract investment in the sector, delegates told a conference being held in HCM City.

Speaking at the four-day 18th International Freight and Logistics Network (IFLN) Network's Membership conference which opened on Sunday, president of the IFLN, Michel Vanlerberghe, said: "The annual conference will provide an excellent opportunity for all participants to educate themselves about the latest economic development in Viet Nam and meet partners coming from all major parts of the world."

Over 200 delegates from 100 nations are taking part in the conference.

According to the Asian Development Bank, the Vietnamese economy grew at 6.7 per cent last year and is likely to achieve 7 per cent growth this year.

The country has 49 seaports and around 1,000 logistics companies to stand in the 53rd place in terms of logistics out of 155 countries.

Its WTO accession in 2007 has enabled many international manufacturers to set up production facilities in Viet Nam and benefit from a low-cost manufacturing base and close proximity to the world's busiest shipping routes. Under commitments it made for the WTO accession, the country will have to fully open the industry by 2014.

vietnamnews

>   Petrolimex loses $124m in Q1 (05/04/2011)

>   Indian ambassador hopes to boost trade (05/04/2011)

>   PM okays Da Nang-Quang Ngai highway (05/04/2011)

>   Rice price to be kept stable (05/04/2011)

>   Opportunity to boost seafood exports to Japan (05/04/2011)

>   New plant heats up solar energy market (05/04/2011)

>   Nearly 87,000 new employees needed in 2nd quarter (05/04/2011)

>   Be careful when exporting leather-capped shoes to EU (05/04/2011)

>   Airfares may rise 22.7 percent: Official (05/04/2011)

>   Manufacturers cut lead times, inventories (04/04/2011)