When infrastructure shapes the flow of capital in logistics

These developments are delivering a strong catalyst for the logistics sector, an industry expanding at 14-16 per cent annually and contributing 4.5-5 per cent of GDP.

Rizwan Khan, Managing partner, Acclime Vietnam

Vietnam’s accelerated infrastructure build-out is transforming the dynamics of logistics, optimising costs that currently account for around 16 per cent of GDP, significantly higher than that of Singapore (8 per cent), Malaysia (12 per cent), and the global average (around 11 per cent).

This optimisation improves corporate profit margins and drives a new wave of mergers and acquisitions (M&As) as logistics assets are repriced to reflect higher utilisation potential. Strategic hubs such as Lach Huyen, Lien Chieu, and Cai Mep-Thi Vai are attracting investors from Japan, Singapore, and South Korea, seeking regional expansion opportunities amid supply chain realignment and shifting global capital flows back to Asia.

At the same time, the logistics development strategy towards 2035, approved in October, centred on building a sustainable and technology-driven ecosystem. This has strengthened market confidence, encouraging domestic M&As to increase scale and competitiveness.

On its path to becoming a mega-industry, Vietnam’s synchronised infrastructure expansion is redefining investor priorities. M&A capital is increasingly directed towards segments that can fully leverage the new physical backbone, particularly warehousing, cold storage, multimodal transport, and third-party logistics (3PL) services.

Warehousing and cold storage are expanding rapidly, benefiting significantly from new infrastructure developments including deep-sea ports, international airports, and inter-regional expressways, that shorten transportation cycles and enhance logistics efficiency.

Alongside the surge in e-commerce, export growth, and the ongoing shift of global supply chains away from China, this segment has become a focal point for investment inflows in 2025.

Ready-built factory and warehouse models are gaining strong traction thanks to short development cycles, competitive rental rates, and high construction standards allowing manufacturers to scale production and storage without upfront infrastructure investment.

Meanwhile, multimodal transport and 3PL providers are becoming the connective tissue of Vietnam’s logistics ecosystem, integrating transport, warehousing, and distribution across key regional corridors. Investors are increasingly drawn to tech-enabled operators capable of end-to-end integration and scalability.

Infrastructure upgrades are dramatically reducing transit times between the northern, central, and southern economic zones, while also strengthening links to seaports and international gateways.

As a result, local players that have historically been confined to regional strongholds now have a realistic path to scale nationally and move up the value chain into higher-margin, specialised segments: cold-chain logistics, agri-product supply chains, industrial park last-mile solutions, transshipment services, and integrated multimodal transport.

Success in attracting strategic or financial partners will ultimately depend on a combination of operational strength and institutional readiness. Partners will look for companies that have already demonstrated operational excellence and the ability to deliver consistent, high-quality services at scale, backed by a clear, standardised operating model that can seamlessly be replicated in new regions.

Strong progress in digital transformation such as real-time track-and-trace, modern warehouse management systems, and route optimisation along with credible environmental, social, and governance (ESG) and sustainability initiatives, will further differentiate attractive targets.

Equally critical are transparent financials, accountable governance, and professional management teams capable of satisfying the rigorous due diligence of international strategic buyers and private equity investors.

Looking ahead to 2026, logistics M&A activity in Vietnam will be distributed across the country.

The clear epicentre will be the Southeast Key Economic Region, which already handles close to half of Vietnam’s total cargo volume, anchored by the Cai Mep–Thi Vai deep-sea port complex.

What is changing now is the imminent removal of the last remaining inland obstructions. With the Long Thanh International Airport’s Phase 1 coming operational by late 2026, ring roads 3 and 4 progressively opening, multiple new expressways, and dedicated rail links to ports under construction, the region is about to experience a quantum leap in multimodal efficiency.

For acquirers, this translates into immediate, quantifiable synergy value, which is the single most powerful catalyst for M&A.

Government master planning reinforces this momentum: since April, the south has been explicitly designated as Vietnam’s primary growth pole with a mandated regional GDP target of 8-8.5 per cent annually and six defined economic corridors that will cement its role as the country’s pre-eminent logistics hub.

The northern region will remain a solid runner-up. Ongoing ports expansion, new cross-border expressways, and its dominance in China-linked trade and cold-chain logistics will continue to draw steady capital, especially from Korea, Japan, and China.

The central region will be the emerging frontier. Completion of the North-South Expressway and maturing industrial clusters around Danang, Chu Lai, Dung Quat, and Quang Ngai combined with Danang’s strategic position on the East-West Economic Corridor are rapidly turning the centre into the logistical spine that connects north and south.

Early mover acquisitions here will be attractive for platforms seeking pivotal nodes, but absolute deal volume and enterprise values will still trail the two larger zones in 2026.

In short, the southeast’s combination of current market dominance, imminent infrastructure breakthroughs, and unequivocal policy backing will drive the majority of high-impact logistics M&A transactions next year. The north will deliver consistent, high-quality activity, while the central region will attract growing strategic interest from forward-looking buyers.

To fully leverage the momentum created by Vietnam’s expanding infrastructure, logistics companies preparing for M&A should focus on building operational and financial credibility while aligning with global investment expectations.

It can do this by enhancing financial transparency and governance to increase investor confidence and valuation potential; operational standardisation through the adoption of ISO-certified processes, performance benchmarks, and unified service quality; investing in digital transformation to improve efficiency and attract strategic investors seeking scalable, tech-enabled operations; and embracing green logistics initiatives such as low-emission fleets, renewable-powered warehouses, and ESG reporting.

Collectively, these steps position Vietnamese logistics firms to capitalise on new infrastructure and emerge as strong contenders in upcoming M&A opportunities.