On March 26th, 2019, the Minister of Industry and Trade issued Decision No. 708/QD-BCT approving the Plan for improving Logistics Performance Index of Vietnam. This decision takes effect from the date of signing.
The aim of the Plan is to improve Vietnam’s ranking in the LPI rankings published by the World Bank from now to 2025 by 5-10 steps (in 2018, Vietnam ranked 39th in the world in terms of LPI rankings), contributing positively to improving the business environment, cutting costs, improving competitiveness in providing logistics services in Vietnam, improving innovation capacity …, contributing to real currently winning the Government’s resolution on socio-economic development.
The plan sets out specific tasks associated with the roles of ministries, sectors, localities and is divided into task groups closely related to the component indicators in LPI, including:
1. Group of tasks on infrastructure upgrade;
2. The task group on improving delivery capabilities;
3. Tasks on improving capacity and quality of logistics service provision;
4. Group of tasks on technology application, optimal access capability;
5. Group of tasks on shortening time and reducing costs;
6. The task group on improving customs clearance efficiency;
7. Group of auxiliary tasks.
In general, the issuance of Decision No.708/QD-BCT to implement Resolution No.02/NQ-CP dated January 1st, 2019 of the Government showed the State’s determination to improve the business environment, improving national competitiveness, short-term and long-term vision, thereby helping to raise the position and reputation of Vietnam, promoting economic development and attracting foreign investment.