At Binh Duong bridge point, there were leaders of provincial departments, committees and branches; Provincial Logistics Association; domestic enterprises and US enterprises operating in the province.

At the US bridge point, there were Mr. John McCarthy - Port of Tacoma Executive Director (US).

The conference also connected online to the bridge points of the WTC Association system and about 100 international investors and enterprises in the US who wish to connect the Logistics industry with Binh Duong.

Binh Duong has great potential for logistics development

After 27 years of normalization and establishment of diplomatic relations between the US and Vietnam, bilateral trade between the two countries increased about 250 times, from 450 million USD in 1995 to 112 billion USD in 2021 and became the second largest trading partner to reach 100 billion USD.

In 2021, Vietnam's exports to the US reached 96.29 billion USD, up 24.9% compared to 2020 despite the prolonged Covid-19 pandemic and complicated developments affecting the global supply chain.

The US is the largest export market of Vietnam in general (accounting for 28.6% of the country's turnover) and Binh Duong province in particular. In the first 09 months of 2022, import and export continued to be a bright spot in the economic picture of Binh Duong. Accumulating 9 months, the province's export turnover was estimated at 27 billion 059 million USD, up 11.9% over the same period in 2021; import turnover was estimated at 19 billion 210 million USD, down 1.6%; maintaining a trade surplus reached 7.8 billion USD.

Goods are exported mainly to traditional markets such as the European Union (EU), Japan, Korea, Hong Kong, etc. and the US market is still an outstanding market, with an export turnover of nearly 9.4 billion USD.

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Overview of the conference

Speaking at the conference, Mr. Nguyen Thanh Toan - Director of the Department of Industry and Trade said that over the years, Binh Duong has made good use of its favorable geographical position to invest in building a synchronous and modern transport infrastructure. At the same time, with the rapid development of industry, commerce, and services, it has been creating a strong driving force for Binh Duong to rise to become one of the leading provinces in the country in industrial and urban development.

With the advantage of being a developed industrial province and being one of the leading localities in the country in terms of attracting foreign direct investment (FDI), Binh Duong is a fertile land for enterprises to invest in business, exploit logistics services with a system of warehouses, yards, and transportation vehicles that are continuously newly invested, expanded and upgraded, basically meeting the requirements of domestic and foreign goods circulation of enterprises.

Therefore, Binh Duong identifies and focuses on developing high-quality service industries; building a modern logistics infrastructure network for production, circulation and distribution of goods is an indispensable requirement for the economic development of the province.

Strengthening business cooperation, developing logistics services

At the conference, Binh Duong and US enterprises exchanged business cooperation opportunities to develop logistics services.

Mr. Pham Van Xo - Chairman of Binh Duong Import and Export Association emphasized, although in the context that the domestic economy is being negatively affected by the global political and economic situation, Binh Duong province alone has built a strategic vision through socio-economic development goals in a practical and in-depth direction; sense of creating trust and favorable conditions for enterprises investment, production development and business activities changes positively; many industrial parks were opened with a coverage rate of over 90% of the actual area. Besides, there is the supply chain shifting trend of many international brands that have invested in China to Southeast Asian countries, of which Vietnam is a country with many advantages.

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Binh Duong's export and import achieve many outstanding results

Sharing about the transportation, circulation and export and import of goods through seaports to the US market, Mr. John McCarthy - Port of Tacoma (US) Executive Director confirmed that goods imported from Vietnam will certainly increase more strongly in the coming time when US investors and enteprises realize the potential and production capacity of Vietnam. More than 70% of international containerized cargo moving through the Port of Tacoma is destined for the Central and Eastern regions of North America.

The Port of Tacoma handles nearly all (80%) of the sea cargo that travels between the US and the State of Alaska. With a natural deep-water harbor, services from two major rail lines and ample land available for expansion, the Port of Tacoma is increasingly attractive for international trade.

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Port of Tacoma (US)

Tacoma has a number of specialized shipping lines such as Cosco, Evergreen (EMC), Maersk line, ONE, Yang Ming, etc. In addition, with the port's location near the East Asian and Southeast Asian markets geographically, Vietnamese goods entering the US through the Port of Tacoma will have the opportunity to access Washington state, one of the states with the largest trade openness in the US, ranked no. 1 in the US in exporting aerospace, wood products, coffee, processed seafood, etc. Tacoma's availability advantages include large vessel-ready terminals, intermodal terminal service and fast rail transit times to major domestic US destinations, loading and unloading capacity and overstocking and a strong logistics network.

Delegates also exchanged content around supporting small and medium-sized enterprises (SMEs) to improve their competitiveness to meet the needs of import and export goods rotation as well as support from the Port of Tacoma for SMEs. 

After the conference, the delegates visited Binh Duong Port and ICD TBS Tan Van Logistics Center.​​

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​​​​Reported by Doan Trang- Translated by Thanh Tam

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