NDO – National Development Organization Vietnam has risen three places to eighth place out of 50 nations in the global freight forwarder Agility’s Emerging Market Logistics Index 2021 ranking.
As a result, China remained the world’s largest developing logistics market, followed by India, and Indonesia placed third. Qatar and Turkey were rated ninth and tenth, respectively, behind Vietnam. Indonesia was rated third among ASEAN nations, Malaysia was ranked fifth, Vietnam was ranked eighth, Thailand was ranked eleventh, the Philippines were placed twenty-first, and Cambodia was ranked forty-first.
Vietnam’s response to the Covid-19 epidemic was one of the most successful in the world. “The measures taken by Vietnam in 2020 catapulted them into the top ten rankings in 2021 – its climb of three spots to eighth is the quickest ever in the top half of the Index and has replaced regional partner Thailand in the top ten,” Agility said.
According to the research, Vietnam has built a considerable hi-tech manufacturing capacity in recent years, which has helped attract investment from manufacturers further up the value chain as costs in China rise. The ability to avoid higher expenses linked with the US-China
However, the researchers noted that investment and the entry of new firms had caused problems.
According to the Action Plan to Improve Competitive Capacity and Develop Vietnam’s Logistics Services by 2025, the contribution of logistics services to GDP will be 5-6 percent, the growth rate of logistics services will be 15-20 percent, the logistics outsourcing rate will be 50-60 percent, logistics costs will be 16-20 percent of GDP, and the industry ranking on the LPI will be in the top five.
