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Thursday, July 25, 2024

Logistics Competitiveness Index Project launched

By Lan Nhi

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HANOI – The Vietnam Logistics Business Association (VLA) has joined hands with the Vietnam Chamber of Commerce and Industry (VCCI) to launch the Logistics Competitiveness Index (LCI) project at the provincial level this year.

LCI is a benchmarking tool created to assess and give an overview of the country’s growth rate, quality, infrastructure, and provincial and municipal policies in the logistics sector, thereby cutting logistics costs, promoting production and export, and attracting foreign investment.

The LCI report is designed to highlight and explain the differences between provinces and cities in their performance on trade and import-export logistics and, as a result, help domestic and international businesses determine where to expand their businesses.

Along with the voice of the business community, LCI could be used to engage in policymaking with local authorities to improve and develop the sector.

Policymakers also use the index as a criterion for economic reform policy.

The project was carried out by VLA, in collaboration with VCCI, Dream Incubator, and the Vietnam Logistics Research and Development Institute, using survey data from enterprises, experts, and state management agencies.

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