According to a report from Allied Market Research, Vietnam’s express delivery market reached $710 million in 2021 and is forecast to grow to $4.88 billion by 2030. The compound annual growth rate (CAGR) is expected to be 24.1 per cent in the 2022-2030 period. The report said the fast-growing e-commerce sector, the rise in B2C delivery, and the rapid growth in international trade services are factors driving market growth.

Local delivery startup Loship has raised capital of $12 million in its Pre-Series C round, led by BAce Capital. It expects that 10 per cent of Vietnam’s population will use the application every month within the next two years. The startup also aims to become the leading e-commerce delivery company in the country.