Vietnam stands at 53rd grade in trade logistic index, WB report

World Bank last Friday announced the ranking list of Logistics Performance Indicators – LPI of 155 economies, which was led by Germany, Singapore standing at second position and China at 27th.

The report was based on the overall survey on the international commodity transportation sector.

In which, Vietnam ranks 53rd position in terms of WB’s trade logistic index report. Vietnam with China, India, Uganda, Thailand, Philippines and South Africa are the developing countries showing special signals on the logistic industry.

Chair of WB, Robert Zoellick said that the economic competition unintentionally made the countries more flexible in improving the trade logistic operations, upgrading the business efficiency, reducing costs and boosting the economic growth.

More suitable connection between producers and international market will result in the bigger development and investment opportunities, that are also the major concerns in the development strategy of developing countries, Robert Zoellick added.

According to Otaviano Canuto-vice chair of WB, the developing countries should invest better in logistic sector to escape from the crisis.

(Thoi Bao Kinh Te Saigon)

Tags: vietnam logistics, Vietnam transportation