Vietnam ranks third in logistics performance index in ASEAN

The World Bank study found that among lower-middle income countries, large economies such as India and Indonesia as well as emerging economies such as Vietnam and Côte d’Ivoire stand out as top performers after seeing a significant jump in rankings.

In comparison with global firms, the average efficiency of logistics firms in Vietnam is much lower, but the distance is reduced and co- operation might be the key.

The logistics industry in Vietnam is in tough yet promising stage of development. Favorable geographical location, political stability, young population with rising purchasing power and a booming modern retail market.

The logistics industry in Vietnam is projected to record substantial growth thanks to the increasing goods trade demands.

The requirement for international shipping, inland transport, and distribution services is created during the process of importing raw materials and spare parts, re-exporting products after manufacturing them and then distributing them domestically.

The bright future of the Vietnamese manufacturing and exporting economy is influencing a high growth potential and good opportunities for Vietnam’s logistics industry.

Together with weak transport infrastructure, high logistics costs are likely to undermine Vietnam’s attractiveness as an investment destination, especially as the world moves towards Industry 4.0 and sustainability initiatives.

Although the foreign competitors in the market is an undenied threat to the thriving of local companies, with adequate strategies and suitable investments, this is the opportunity for local businesses to call for capital from multinational companies, to co-operate and learn from them to improve their own competitiveness in the market.

The collaboration between local companies, such as mergers or joint ventures could help to increase competitiveness of local industry by promoting a rational integration in the supply network.

Shared resources, technology transfer, linkage of services, information exchange, widen geographical coverage, etc. are promising prosperities coming from integration between enterprises.

The task group on infrastructure upgrade promote public-private partnership (PPP) for logistics infrastructure development projects: continue to take advantage of the support of international organizations and partners with advanced technology in infrastructure development.

Attract investment in construction of large-scale aviation logistics centers, modern equipment to serve the demand of air transport of domestic enterprises and act as hubs for goods transportation. foreign goods, especially e-commerce goods.

Vietnam is in urgent need of improving its national logistics in system. By applying the consistent fuzzy preference relations (CFPR) method for weighing main factors influencing the improvement of Vietnam's logistics system.

Logistics has proved itself a competitive weapon for companies and territories: continents, nations, regions, and districts, including urban/metropolitan areas.

A country's productivity determines its ability to maintain a high level of income and is also one of the critical determinants of investment returns, a key factor explaining its growth potential.

To step by step invest in inland waterway transport infrastructure systems, proceeding to definitely deal with congestion points on the main waterway transport corridors; To build inland water ports with modern equipment, especially in the Mekong River delta and Red River delta regions.

The task group on improving delivery capabilities review and complete policies and regulations on transit and transshipment of foreign goods through Vietnam in a clear, convenient and suitable manner with Vietnam's international commitments to exploit geographical advantages economic in providing logistics services.

Support and enhance law dissemination to raise awareness and knowledge for enterprises providing postal services on logistics, e-commerce and technology application in post, thereby improving capacity , respond well to delivery needs, especially for e-commerce goods.

Group of tasks on technology application, optimal access capability update and monitor indicators related to technology and innovation to improve the efficiency of logistics services, orient and encourage businesses to focus on innovation, improve technological capacity, creativity and application New technology to adapt to production in the global value chain.

Promote administrative reform; enhance the responsibility of the head, enhance administrative discipline and discipline; to build and develop a contingent of civil servants with adequate capabilities, qualities and spirit to support enterprises; end harassment, local, costly and create informal costs for businesses. Resolutely removed from the industry, civil servants requiring businesses to pay non-regulated amounts.