Want to be in the loop?
subscribe to
our notification
Business News
LET PRIVATE SECTOR HELP VIETNAM€™S TRANSPORT AND LOGISTICS
Titled “Engaging the Private Sector in Transport and Logistics Planning and Policy Making: Options for Vietnam”, the report says systematic engagement with freight stakeholders by government agencies responsible for planning and policy making can boost trade competitiveness.
International experience has shown that private sector stakeholders - the end-users of transport infrastructure and key intended beneficiaries of public policies aimed at facilitating trade and reducing logistics costs - are well-positioned to inform public sector decision-making on matching supply and demand in transport and logistics, according to the report.
In Vietnam, however, private sector stakeholders remain relatively untapped as a source of insight into transport and logistics policy making and planning, the report says. “By more explicitly, transparently, and predictably engaging with private sector stakeholders all across the import-export and domestic supply chain, national agencies like the Ministry of Transport and sub-national ones like Provincial Departments of Transport can better equip Vietnam with the logistics system it needs as it enters its next phase of logistics competitiveness as a middle-income country,” said Luis C. Blancas, a World Bank Senior Transport Specialist and author of the report.
Malaysia, Thailand, the United States and the United Kingdom - among the world’s top-performing countries in transport and logistics according to the World Bank’s Logistics Performance Index benchmark - have considerable experience in engaging private sector stakeholders in planning and policy making to help public sector agencies support strong logistics outcomes. Such experience elsewhere provides lessons learned and pitfalls to avoid for Vietnam.
In the past, private sector freight stakeholders in Vietnam have worked with government agencies on efforts to facilitate trade, rather than longer-term aspects like infrastructure planning and crafting policies to promote desirable sector-wide outcomes such as better service delivery, healthier market competition and cutting greenhouse gas emissions that cause climate change.
The World Bank report contends increased public-private engagement can greatly enhance logistics competitiveness in those areas going forward. It suggests establishing legally backed platforms for public-private and public-public collaboration, and furnishing such partnerships with sufficient resources to carry out their mandate. Other important steps include managing private sector expectations, ensuring comprehensive representation of stakeholders across the supply chain, and observing common-sense “business meeting” norms regarding timeliness and the prompt issuance of minutes with clearly assigned responsibilities and well-defined next steps.
In addition, the report calls for pursuing private sector engagement opportunities throughout the planning and policy making cycle - as opposed to only within selected portions of it - as a contributing factor to ensuring sustained engagement.
A survey of Vietnam-based private sector freight stakeholders conducted for the report confirmed an unmet need for greater engagement between the government and private sector on planning and policy making in logistics. Respondents strongly supported platforms for dialogue and collaboration consistent with the approaches suggested by international experience.
Source: VCCI
Related News
CAR IMPORTS INCREASE 37.5 PER CENT IN 10 MONTHS
Việt Nam mainly imported cars from Indonesia, with 57,963 units imported so far this year (19,569 units higher than over the same period last year). Imports also came from Thailand, with 54,481 units (7,535 units higher than last year) and China, with 24,613 units (16,112 more than last year).
HAIPHONG TARGETS US$4 BILLION IN FDI FOR 2024
Haiphong recently approved 12 new projects in its economic and industrial zones, valued at a combined US$1.8 billion. This brings the total FDI in these zones to US$3.5 billion as of November, surpassing the city’s annual target by 40%.
FOREIGN INVESTORS FLOCKING TO SOUTHERN REGION
Foreign investors are actively calling on southern localities in the final months of 2024 to explore investment opportunities. On November 7, over 40 German businesses arrived in the southern province of Dong Nai to evaluate investment prospects in the area.
IMPROVING THE EFFECTIVENESS OF SOCIAL POLICY CREDIT
Following a decade of implementation, social policy credit is expected to enter a new phase of development to achieve higher efficiency for the sake of society and the community. On behalf of the Party Central Secretariat, on October 30, Standing Member of the Party Secretariat Tran Cam Tu signed a directive to improve the efficiency of social policy credit.
VIETNAMESE ENTERPRISES GRAPPLE WITH CHALLENGES IN Q3
In many sectors, businesses acknowledged that simply breaking even was an accomplishment this year. A prominent example is Nam Sông Hậu Trading Investment Petroleum JSC, once a leading fuel distributor in the Mekong Delta.
GLOBAL SOURCING FAIR VIETNAM 2025
Global Sourcing Fair Vietnam 2025, held from 24-26 April at the Saigon Exhibition & Convention Center (SECC), Ho Chi Minh City, is the must-attend international expo for sourcing Fashion & Accessories and Home & Gifts