Illustrative image (Source: VNA)Hanoi (VNA) - A seminar to discuss policy recommendations tosupport logistics development in Vietnam was held in Hanoi on October 29.
The event, organised by the Central Institute for Economic Management (CIEM), was also to identify difficulties and obstacles to logistics activities, therebyproposing solutions to better the legal system related to promoting thedevelopment of logistics services, reducing costs and improving thecompetitiveness for logistics enterprises.
Nguyen Dinh Cung, head of CIEM, said logistics is the backbone of internationaltrade. Logistic services with low costs and highly responsive to customerrequirements would help promote domestic and foreign trade and nationaleconomic development.
Logistics performance shows that for the countries with the same income percapita, the one with the best logistics performance witnessed a growth rate of1 percent in GDP and 2 percent in trade. Therefore, the logistics sector inparticular and other fields in the economy are in need of a rational change, headded.
Michael Krakowski, Programme Director and Chief Technical Advisor of the GIZ’sProgramme on Macroeconomic Reforms and Green Growth, said that based on worldexperience, to take advantage of the Fourth Industry Revolution, it isnecessary to develop policies approached by each group and specific sector, inaddition to defining solutions for each specific industry and group, andlogistics is also one of the industries that needs to be studied in thatdirection.
According to the CIEM, in 2018, hundreds of legal documents have been issued tohelp raise the efficiency of the logistics sector. However, its competitivenessis still faced by a lot of obstacles, including limited infrastructure, lack ofconnections and bottlenecks in hindered business conditions, specialisedmanagement and administrative procedures, while the IT development andapplication in logistics enterprises remains limited.
Business representatives at the event suggested multiple solutions to remove theobstacles and boost logistics development in Vietnam, including legalising ITapplication into business conditions. - VNA
The event, organised by the Central Institute for Economic Management (CIEM), was also to identify difficulties and obstacles to logistics activities, therebyproposing solutions to better the legal system related to promoting thedevelopment of logistics services, reducing costs and improving thecompetitiveness for logistics enterprises.
Nguyen Dinh Cung, head of CIEM, said logistics is the backbone of internationaltrade. Logistic services with low costs and highly responsive to customerrequirements would help promote domestic and foreign trade and nationaleconomic development.
Logistics performance shows that for the countries with the same income percapita, the one with the best logistics performance witnessed a growth rate of1 percent in GDP and 2 percent in trade. Therefore, the logistics sector inparticular and other fields in the economy are in need of a rational change, headded.
Michael Krakowski, Programme Director and Chief Technical Advisor of the GIZ’sProgramme on Macroeconomic Reforms and Green Growth, said that based on worldexperience, to take advantage of the Fourth Industry Revolution, it isnecessary to develop policies approached by each group and specific sector, inaddition to defining solutions for each specific industry and group, andlogistics is also one of the industries that needs to be studied in thatdirection.
According to the CIEM, in 2018, hundreds of legal documents have been issued tohelp raise the efficiency of the logistics sector. However, its competitivenessis still faced by a lot of obstacles, including limited infrastructure, lack ofconnections and bottlenecks in hindered business conditions, specialisedmanagement and administrative procedures, while the IT development andapplication in logistics enterprises remains limited.
Business representatives at the event suggested multiple solutions to remove theobstacles and boost logistics development in Vietnam, including legalising ITapplication into business conditions. - VNA
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