Doing business in the transport sector not only requires determination but also a detailed plan and deep understanding of the industry. So what is the experience of doing business and successfully starting a transport company? Let's explore the opportunities and challenges in the transport industry, and how you can build a solid foundation for your success in the following article!
Transport business situation in Vietnam
Revenue of Vietnam's transport and warehousing market from 2012 to 2024
Determine the trend of the chart
Based on the chart, we can see that from 2012-2019, the revenue of Vietnam's transport and warehousing market continuously increased during this period.
Next, from 2020-2021, during the Covid-19 pandemic, revenue slightly decreased, but continued to increase from 2021-2023.
What are the causes of this trend?
There are several main reasons that have led to the continuous increase in revenue in the transportation and warehousing market in Vietnam:
- The transportation industry is witnessing significant growth, especially in the field of freight transport and logistics.
- The development of the economy and trade has boosted transportation demand, thereby creating opportunities for businesses in the industry.
- The Vietnamese government has implemented major investment projects in transportation and warehousing infrastructure. This includes the construction and upgrading of road, rail, seaport, and airport infrastructure. This has led to improved efficiency in transporting and storing goods.
Predicting future changes based on the chart
In the future, the revenue of the transportation industry will continue to increase, as the demand for transporting people and goods in Vietnam is very high.
Number of newly established transport and warehousing enterprises in Vietnam from 2016 to 2022
Determine the trend of the chart
Based on the chart, we can see that from 2016-2018, the number of newly established transportation and warehousing enterprises in Vietnam continuously decreased.
But from 2018-2022, based on the chart, we can see that from 2016-2018, the number of newly established transportation and warehousing enterprises in Vietnam continuously increased, although there was a slight decrease from 2019-2020 due to the global outbreak of Covid-19.
What are the causes of this trend?
Regulations and legal procedures related to the establishment and operation of enterprises can become complicated and require a lot of paperwork. This can reduce the motivation of investors and businesses wanting to start a business in this field during 2016-2018.
However, since the Covid pandemic, the transportation sector has continuously increased and tends to develop even more strongly due to the ever-increasing consumer demand.
Predicting future changes based on the chart
The future of the transportation and warehousing industry in Vietnam may undergo significant changes under the influence of many factors, including technology, politics, and the market.
But in general, the trend is that the revenue of this industry will continue to grow strongly, as the demand for transportation services remains very high.
Passenger traffic in Vietnam from 2016 to 2022, by type of transport
Determine the trend of the chart
Looking at the chart, we can see that the volume of passengers using road transport is the highest, followed by air transport, and finally waterway and railway.
Also based on this chart, we can see that from 2016-2019, the volume of passengers using road, air, rail, and waterway transport continuously increased.
Meanwhile, from 2019-2021, the volume of passengers using road, air, rail, and waterway transport tended to continuously decrease and then increased sharply from 2021-2022.
What are the causes of this trend?
From 2019-2021, the volume of passengers using road, air, rail, and waterway transport tended to continuously decrease due to the outbreak of Covid-19, with continuous lockdown orders issued by the government. This caused the number of customers using transportation services to drop sharply.
Predicting future changes based on the chart
According to the chart, we can see that the volume of passengers using road, air, rail, and waterway transport has tended to increase again from 2021-2023, due to the rapid improvement of the Covid-19 situation.
Overall, passenger traffic using road, air, rail, and waterway transport will continue to grow strongly in the future. Therefore, competition in the industry will also become increasingly intense.
>>> Learn more: The private transport sector grasps trends to create breakthrough growth
Current status of the transport business sector in Vietnam
The transport business sector in Vietnam is going through a period of great potential and challenges. With the increasing travel demand of people and cargo transportation, this sector has become one of the most important business areas of the country's economy.
Fierce competition
There are many businesses providing transport services, from large companies to small businesses and individuals. Therefore, the level of competition in the transport industry is very high. This puts pressure on transport companies to optimize operations and provide better services to attract customers.
>>> Learn more: 6 major trends in the logistics transport sector
Improving transport infrastructure
The government and related organizations have made significant investments in improving transport infrastructure. Roads, seaports, airports, and railways are being upgraded and expanded to meet the increasing demands of the industry.
Applied technology
Technology is playing an increasingly important role in the transport sector. Mobile applications, smart transport management systems, and cargo tracking solutions are helping to optimize transportation processes and enhance efficiency.
Environmental challenges
The growth of the transport sector also poses environmental challenges. Emissions from transport vehicles cause air pollution and climate change. Therefore, environmental protection is becoming an important issue in the industry.
Changes in customer attitudes
Customers demand greater safety and convenience when using transport services. They expect to track goods directly and evaluate services through mobile applications and online platforms.
Management policies
The government is promoting more effective management of the transport sector by issuing new policies and regulations to ensure traffic safety and manage transport resources.
In summary, the transport business sector in Vietnam is facing many opportunities and challenges. To succeed, businesses in the industry need to promote innovation, manage effectively, and ensure they meet the increasing demands of customers in a constantly changing context.
Business experience and how to successfully start a transport company
To gain business experience and successfully open a transport company, you need to follow these steps:
Step 1: Make a thorough plan
When you are preparing to open a transport company, the most important thing is to make a detailed plan. This includes defining business objectives, target customers, and choosing the type of transport you want to provide. At the same time, make sure you have thoroughly researched the market to clearly understand the opportunities and challenges in the industry.
Step 2: Register the business
After completing the plan, you need to register your business. This requires you to carry out the necessary legal procedures and choose the appropriate type of company, such as a joint stock company or a limited liability company, to help protect your personal assets and build credibility for the company.
Step 3: Business experience and successfully opening a transport company – Choosing the right means of transportation
First, you need to choose the type of vehicle suitable for your service, which could be trucks, cars, or motorbikes. Then, ensure that these vehicles all meet safety standards and are regularly maintained to avoid unwanted incidents.
Step 4: Effective marketing
You cannot overlook a strong marketing strategy when you want to successfully start a transport company. Use social media tools and your website to advertise your services. At the same time, create engaging content and share positive reviews from customers.
Step 5: Financial management
Financial management is an indispensable aspect of doing business. You need to carefully track all company expenses and revenues. Additionally, you should build a reserve fund to ensure financial stability in case of emergencies.
Step 7: Ensure safety
Safety is always the top priority in the transportation industry. You need to ensure that you and all employees comply with safety regulations when operating vehicles. At the same time, you should also organize regular safety training courses for your staff.
Which company should you choose as a marketing partner for your transport business?
Currently, there are many partners providing marketing services on the market, but among them, DPS is proud to be one of the most dedicated marketing service providers, helping your business operate more smoothly.
We provide quality marketing services, especially for the transportation industry, with many attractive offers.
Contact us now for more details about DPS's offers and services!
