On March 18 in Ho Chi Minh City, Vietnam Logistics Business Association and Vietnam Logistics Research and Development Institute announced the Vietnam Logistics Index (VLI Logistics Index).
VLI Logistics Index is a daily calculated, updated index to provide an overall picture of the industry, as a basis for forecasting models, reflecting regular events to help businesses make timely decisions. The sample selection of VLI Logistics Index will be based on world-renowned economic indexes such as NASDAQ, S & P500, NIKKEI, etc. Besides, evaluating the VLI Logistics Index will enable investors to acquire more information, in a faster and more accurate manner, thus having more perspectives to look at logistics businesses (transportation, freight forwarding, and warehousing services) in Vietnam.
According to Mr. Do Xuan Quang, Chairman of the Vietnam Logistics Association, although Vietnam's logistics service industry has a scale of 20-25 billion USD/year, there has not been any criterion to evaluate business performance or situation. At present, Vietnam's national logistics performance index (LPI) is being evaluated by World Bank (WB) every two years on the basis of surveying operating businesses in the industry across countries.
According to Dr. Dang Vu Thanh, Director of the Vietnam Logistics Research and Development Institute, developing information in the industry scientifically and accurately will help policy makers to have a precise and reliable basis, as well as help businesses to clearly understand development situation in order to prepare appropriate development strategies. Especially, through the VLI Logistics Index, investors will acquire information and database to not only invest in some businesses in the industry, but also have an overview on the picture of the logistics industry; therefore investing in this fledgling service industry of Vietnam.