TUESDAY, March 19, 2024
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Logistics firms grow 40 per cent, as RCEP offers more opportunities

Logistics firms grow 40 per cent, as RCEP offers more opportunities

The number of logistics businesses in Thailand grew by 39.6 per cent in January with room for greater growth following the implementation of the Regional Comprehensive Economic Partnership (RCEP), the Trade Policy and Strategy Office said on Monday.

The office director, Ronnarong Poonpipat, said 444 new logistics firms had registered with the Business Development Department in January, an increase of 39.6 per cent from the same month of the previous year.

He said the top three categories of registered logistics businesses are goods transportation and transhipment (244 firms), road transportation (68 firms) and goods transportation representatives (33 firms).

Ronnarong said the businesses that have high growth potential are those related to the management of transportation and warehouses for supporting the distribution of goods and raw materials. He said these businesses have expanded by 22.4 per cent in 2020.

He said there are now 1,276 transportation and warehouse management firms and most of them have been registered in Bangkok and surrounding provinces.

He said border provinces, which are gateways to neighbouring countries, have a low number of these logistic companies operating. The border provinces with low registration of warehouse management firms are Chiang Rai, Nong Khai, Bueng Kan, Mukdahan and Nakhon Phanom.

Logistics firms grow 40 per cent, as RCEP offers more opportunities “Warehouse management businesses will offer opportunities to new entrepreneurs, but they must look for good locations to help reduce the cost of goods transportation,” Ronnarong said.

Ronnarong said the RCEP, which took effect on January 1, would facilitate exports so logistic firms should expand their businesses to support exports to RCEP member nations.

For example, they should make preparations to expand their services to make use of the China-Laos speed railway to transport goods for Thai exporters and importers, Ronnarong said.

 

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