Viet Nam News Bồ Xuân Hiệp HCM CITY – Việt Nam has emerged as a powerful manufacturing powerhouse in Asia but “weak logistics activities have limited its trade competitiveness”, the deputy minister of industry and trade said at a logistics forum held yesterday in HCM City. Speaking at the fourth annual Việt Nam Logistics Forum, Đỗ Thắng Hải said Việt Nam, like many emerging Asian economies, had been following an export-led growth model through trade liberalisation and foreign direct investment. The country, which has registered high economic growth, has had one of the highest export growth rates in Asia during the last decade, making it one of the most attractive investment destinations for manufacturing in Asia, he said. Since its membership in World Trade Organisation (WTO), the country’s import-export value has increased 2.9 times, from US$111.2 billion in 2007 to $327.76 billion in 2015. Retail market revenue has increased by 20-25 per cent annually. To achieve these results, the logistics sector has played an essential role in the country’s socio-economic development, Hải said. The sector “plays a key role in linking activities of the global value chain, from supply, production and distribution to market expansion in many economic sectors,” he… Read full this story
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