Sustainable logistics the focus for upcoming conference

July 31, 2024 | 16:45

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A conference on innovative pathways for sustainable and smart supply chains will take place on August 3 at the Saigon Exhibition and Convention Centre from 1.30pm.

The conference, held by VINEXAD, WBS Solution and System Co., Ltd, the University of Economics Ho Chi Minh City, and TYVY Co., Ltd., will discuss specific solutions for sustainable logistics, including the use of renewable energy and the application of green production models in transportation and supply chains.

The conference is part of the Vietnam International Logistics Exhibition, the largest exhibition in Vietnam in the industry, targeting key services including transportation and delivery, warehouse services and equipment, cold chain packing, and logistics technology applications.

Green and sustainable logistics focus on environmentally friendly methods of transportation, warehousing, and distribution of goods. It is anticipated that there will be significant changes in this field as it welcomes green funding from both foreign and domestic businesses.

At a similar conference in May on environmental, social, and governance criteria in this area, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that green growth is a driving force for economic growth.

Ngoc stated, “While every country aims for economic growth, green and sustainable development is becoming a top priority to achieve not only economic prosperity, but also environmental sustainability and social equity.”

Nguyen Hong Nhung, director of National Trade Fair and Advertising JSC, remarked, “Green logistics applies the latest technologies such as robots, the Internet of Things, and smart warehouses to analyse data, optimise routes, use renewable energy, and manage waste efficiently. When all links in the supply chain are green, businesses will be able to improve their production and operations capabilities, thereby forming a green and sustainable ecosystem.”

According to Introspective Market Research, the green logistics market was valued at $1.3 trillion in 2022 and is expected to reach $2.47 trillion in 2030 with a compound annual growth rate of 8.35 per cent from 2023 to 2030.

By the end of 2023, the total supply scale of the modern warehouse industry in Vietnam was expected to have reached nearly 3.9 million square metres, with an annual growth rate of 23 per cent since 2020. Approximately 75 per cent of the warehouse market share in Vietnam is currently held by foreign-invested enterprises, according to FiinGroup.

Nguyen Anh Tuan, director of TYVY Co., Ltd., added that in addition to technological solutions such as virtual twins, AI, quantum computers, and autonomous systems, financial and insurance solutions, notably trade credit insurance, will protect businesses from non-payment risks, ensuring that they receive compensation even when buyers face financial difficulties.

“Trade credit insurance solutions allow companies to focus on sustainable practices without disruption due to payment issues,” said Tuan.

In addition to data technology, smart warehouses, and robots, green transportation is also a crucial link in a sustainable supply chain, demonstrated by the shift from vehicles with internal combustion engines to those using electric energy or sustainable fuels such as wind, solar, and biomass, Tuan added. This helps minimise carbon emissions and creates a source of sustainable energy for transportation and warehouse operations.