Reducing costs is one of the essential conditions for the development and improvement of the domestic logistics sector’s competitiveness. Nguyen Dinh Cung and Michael Krakowski co-chairing the workshop On October 29, 2018, the Central Institute for Economic Management (CIEM) held a workshop on current issues and policy recommendations to improve the competitiveness of the logistics sector. The workshop was an opportunity to discuss the situation of Vietnam’s logistics sector, point out difficulties, and propose solutions and policies for the perfection of the legal system surrounding logistics, as well as develop logistics services along with the reduction of costs and improvement of enterprises’ competitiveness. At the workshop, CIEM president Nguyen Dinh Cung said that logistics is core of international trade. Low-cost logistics services will match clients’ demands and strengthen the development of trade activities and the national economy. The good performance of the logistics sector could contribute 1 per cent to the GDP and 2 per cent to trade turnover. Thereby, this sector needs to be changed to meet the development needs of the market and the economy. Michael Krakowski, director of GIZ’s Macroeconomic Reform Programme and Green Growth, said that it is necessary to create policies across each sector to specifically take advantage of Industry 4.0, as well as set out solutions for each sector. Logistics is one such solution. In 2018, hundreds of legal documents have been issued, so the performance of this sector has been improved. Vietnam’s cross-border trading was ranked by the World Bank as 94th out… [Read full story]
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