ITL marks a spotlight in Vietnam’s logistics industry

According to CEO Ben Anh, ITL will reach over $500 million in revenues by 2024

Last year was a tumultuous one for the logistics industry. The global supply chain was broken and domestic consumption was disrupted, causing businesses in the industry to face unprecedented difficulties. Vietnam’s logistics industry remains fragmented with over 80 per cent of small- and medium-sized enterprises with capital of less than $440,000.

Thus, Vietnamese logistics service providers find it hard to compete with foreign ones. The fragmentation also results in high logistics costs in Vietnam, which accounts for 20 per cent of the national GDP. Meanwhile, the world’s average logistics costs are around 11-12 per cent.

Despite many challenges, Vietnam’s logistics industry still sees some highlights thanks to the contribution of outstanding businesses like In Do Trans Logistics Corporation (ITL). Thanks to its strategy for weathering the storm and a solid foundation of infrastructure and technology application, ITL has been able to maintain the connectivity of aviation logistics during the pandemic, thereby evading some issues for both Vietnamese manufacturers and foreign clients.

Ben Anh, CEO of ITL said, “Logistics businesses play a key role in minimising supply chain disruptions. As a Vietnamese logistics firm, ITL has actively supported these efforts.”

ITL has performed 1,750 flights, including 450 charter flights, almost nine flights per week, to deliver goods for Vietnamese enterprises to significant export markets in the past year, contributing to Vietnam’s remarkable export record in 2021. ITL has also achieved an impressive 150 per cent growth over 2020 thanks to a variety of policies designed to protect employees and continue serving customers.

Not stopping there, ITL has overcome a very challenging year with a series of prestigious awards: Top 500 Most Profitable Companies in Vietnam in 2021, Top 500 Largest Companies in Vietnam, Top 50 Vietnam The Best, and most recently, Top 10 Reputable Logistics Companies in 2021, among other accolades.

The accomplishments reaffirm ITL’s leading position in the market while also demonstrating the potential for Vietnam’s logistics industry to grow rapidly. The prestigious awards serve as motivation for ITL to fulfil its lofty vision of the sustainable development journey.

The company aims to be a national champion and Vietnam’s leading logistics company, with the targets to generate $500 million in revenues by 2024, and become Vietnam’s first billion-dollar logistics firm in the next five years. ITL also hopes to also complete the open ecosystem to boost the logistics industry in Vietnam and provide greater value to customers.

With regards to the five-year plan towards 2024, ITL will heavily invest in logistics infrastructure and exploit new services to meet the customers’ demand. The goals include developing the cold chain, boosting cross-border e-commerce between Vietnam and overseas countries, building 2-3 logistics superhubs in the north/south to support the logistics industry in Vietnam. The company also plans to invest in renewable energy by transporting and installing onshore/offshore wind energy. In addition, ITL has been constantly upgrading its technology and consider employees as the core value of the development process.

ITL is not only agile in its business practices, but it also innovates its technology to provide added value to clients. With these efforts, the company is expected to meet its 5-year goals ahead of schedule and be prepared to take on even bigger challenges in the future, cementing its leading position in Vietnam’s logistics industry.