Vietnam ranks third in logistics performance index in Asean

HANOI, July 31 (Bernama): Vietnam ranks 39th among 160 countries and territories, and third in the Association of South-East Asian Nations (Asean) in logistics performance index (LPI).

The country is also placed among the top emerging markets with a growth rate ranging from 14 to 16 per cent, Vietnam News Agency (VNA) quoted Deputy Minister of Industry and Trade Tran Quoc Khanh as saying in a workshop organised by the Ministry of Industry and Trade (MoIT) on Friday.

The official highlighted an increase in the number of logistics firms, and improved logistics services, saying they are the outcomes of efforts made by both businesses and the Government.

Tranh Thanh Hai, Deputy Director of the MoIT’s Agency of Foreign Trade, said Vietnam’s total export-import revenue in the 2010-2020 period tripled the value recorded earlier.

The logistics sector plays a significant role in the national economic development, including export-import activities, goods circulation at home and production, the official said.

He stressed the significance of logistics services in such localities as Ba Ria-Vung Tau, Ho Chi Minh City, Hai Phong, Hanoi and Da Nang, saying they serve as momentum for regional and local socio-economic development.

Hai affirmed that the Government, ministries, agencies and businesses have always paid attention to cutting logistics costs to improve the competitiveness of the country and enterprises in particular.

Experts at the workshop shared the view on the need for the logistics sector to develop high-quality personnel, step up IT application and modernise its management and operation methods to reduce costs and improve service quality.

Vietnam’s logistics sector is expected to contribute 5-6 percent to the country's gross domestic growth (GDP), record a growth rate of 15-20 percent and rank 50th in the global LPI by 2025. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Aseanplus News

Vietnam wants to become food innovation hub in the region, says President
Hong Kong property giants deny Beijing is ramping up pressure on industry to fix city’s housing woes, following reports of officials losing patience
Japan's Princess Mako to give up one-off payment in controversial marriage-media
Covid-19: 13,899 new cases recorded on Saturday (Sept 25)
Inquiry launched into role of British banks in Hong Kong in ‘suppression’ of rights
China and EU to hold talks on Tuesday as sanctions, Aukus and Lithuania throw up complications
Former chairman of luxury liquor firm Kweichow Moutai sentenced to life in prison for bribery
Beijing blasts ‘criminal record’ of US in Hong Kong with list detailing more than 100 examples of alleged interference
The everyday liquid that could fuel China’s race to green car targets
Covid-19: Khairy urges pharmacists to guide Malaysians into endemic phase

Stories You'll Enjoy