Designed to establish a national system for collecting, processing and publishing transport and trade logistics statistics on an annual basis, the project is part of the World Bank's support to the Government of Vietnam's integrated program for trade facilitation and logistics development.
Logistics key to boost trade competitiveness.
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"Developing a robust logistics data system is crucial for designing and implementing effective policies to enhance Vietnam's logistics performance and competitiveness." said Sebastian Eckardt, Lead Economist for the World Bank in Vietnam.
Financed by the multi-donor Trust Fund for Statistical Capacity Building, or TFSCB, managed by the World Bank, the project also provides technical support for project implementation, through a partnership between the World Bank, the International Transport Forum, the Organization for Economic Cooperation and Development (OECD), and the Australia-World Bank Partnership Program.
The workshop showcased international practices and key components of a good logistics statistical system and discussed the importance of reliable transport and logistics data in Vietnam. The data will be used for strategic planning purposes, and to formulate and monitor the implementation of policies related to transport infrastructure as well as trade and logistics development. It will also help logistics firms to access reliable data for their business development.
Vietnam is determined to reduce logistics costs, which is making up to nearly 21% of GDP, or US$46 billion in 2017, according to the government`s portal.
With such rate, Vietnam's logistics costs are nearly double the figure at developed countries, and higher than the global average rate of 14%, informed Ousmane Dione, the World Bank's Country Director.
By 2025, the country set the contribution rate target for logistics to be at 8 - 10% of GDP, services growth rate from 15 - 20%, while the rate for logistics outsourcing to be 50-60%, said the Decision No.200 referring to an action plan to enhance the competitiveness and development of Vietnam's logistics sector through 2025.
Additionally, logistics costs will be reduced to 16 - 20% of GDP, and the LPI to be within the world's top 50.
