A BVSC report on Viettel Post (VTP) indicates that VTP is expanding its operations into the logistics sector in Lang Son, which has 7 important border gates connecting to China. Approximately 1,400 trucks cross daily, primarily for the import of agricultural products. Two direct competitors are CTCP Transport Commercial Bao Nguyen and CTCP Friendship Xuan Cuong, both established in 2006 and holding larger market shares due to strategically located truck parking areas. Bao Nguyen has a 25.5 ha parking lot and proposed an expansion of 120 ha, while Xuan Cuong has 143.7 ha. Although projected revenue for the logistics sector is not high (around 1 trillion VND in 2024), these companies boast solid profits with net margins of 25-30%. Both have established strong brands and a stable workforce in the area.
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