VN seeks to improve logistics, eyes climb in World Bank ranking
VN seeks to improve logistics, eyes climb in World Bank ranking
The Ministry of Industry and Trade has announced a plan to improve the performance of the logistics sector to improve the country’s business climate.
It seeks to improve Viet Nam’s ranking in the World Bank’s logistics performance index (LPI) by five to 10 spots by 2025.
It will focus on improving infrastructure, shipping capacity and logistics services quality, increasing the use of technology to optimise traceability, reducing time and costs, and streamlining customs clearance.
Viet Nam had jumped 25 places in the ranking in 2018 compared to two years earlier to rank 39th out of 160 surveyed countries.
The LPI is released by the bank every two years, and it measures performance in trade logistics based on six indicators: efficiency of customs and border management clearance; quality of trade- and transport-related infrastructure; ease of arranging international shipments with competitive prices; competence and quality of logistics services; ability to track and trace consignments; and frequency with which shipments reach consignees within the scheduled or expected delivery time.
