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Home / Economy / Trade - Service
Vietnam's Government to improve logistics trading
By Tuan Minh 14:41, 2016/01/12
Logistics trading is not provided adequate conditions for development in Vietnam though it is considered a cash cow sector, Nguyen Cam Tu, Deputy Minister of Industry and Trade, said. International logistics cooperation is essential for Vietnam, especially in the context of global integration and ASEAN Economic Community.
The Deputy Minister said that Vietnam should create favourable conditions for trade activities as well as building an effective logistics sector for better exports. In addition, the country should have high value products in the world market while increasing integration in the seaport sector.

The World Bank reported that Vietnam's Government should work with private importers, exporters and transport companies to improve freight logistics because the evolving economy needs new strategies for strong growth. 

Titled "Engaging the Private Sector in Transport and Logistics Planning and Policy Making: Options for Vietnam", the World Bank report released on January 8 said systematic engagement with freight stakeholders by government agencies responsible for planning and policymaking could boost trade competitiveness.

International experience has shown that private sector stakeholders, the end-users of the transport infrastructure and the key intended beneficiaries of public policies aimed at facilitating trade and reducing logistics costs, have a lot of feedback on supply and demand models in terms of transport and logistics, which could lead to improvements in public decision-making for the transport and logistics sectors, according to the report.



In Vietnam, however, private stakeholders remain relatively untapped as a source of insight into transport and logistics policymaking and planning, the report said. Malaysia, Thailand, the United States and the United Kingdom, among the world's top-performing countries in transport and logistics according to the World Bank's Logistics Performance Index benchmark, have considerable experience in engaging private-sector stakeholders in planning and policymaking to help public-sector agencies support strong logistics outcomes. Such experience elsewhere provides lessons learned and pitfalls to avoid for Vietnam.

In the past, private freight stakeholders in Vietnam have worked with government agencies to facilitate trade, rather than longer-term initiatives such as infrastructure planning and crafting policies to promote desirable sector-wide outcomes, including better service delivery, healthier market competition and cutting greenhouse gas emissions that cause climate change.

The World Bank report contends increased public-private engagement can greatly enhance logistics competitiveness in these areas, going forward. It suggests establishing legally backed platforms for public-private and public-public collaboration and furnishing such partnerships with sufficient resources to carry out their mandate.

Other important steps include managing private sector expectations, ensuring comprehensive representation of stakeholders across the supply chain and observing common sense "business meeting" norms regarding timeliness and the prompt issuance of minutes with clearly assigned responsibilities and well-defined next steps.

In addition, the report calls for pursuing private-sector engagement opportunities throughout the planning and policymaking cycle, as opposed to only within selected portions of it, as a contributing factor to ensuring sustained engagement. According to the latest report on global economic prospect, the Vietnamese economy may accelerated to 10%, the highest pace among 12 TPP members, buoyed by strong garment and textiles exports to the US and other key markets thanks to tariff elimination.
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