The Vietnam Logistics Business Association (VLBA) and the Vietnam Logistics Institute (VLI) launched the Vietnam Logistics Index in Ho Chi Minh City on March 18.

Do Xuan Quang, Chairman of the VLBA and the ASEAN Federation of Forwarders Association, said the logistics sector generates 20 - 22 billion USD a year, representing 20.9 percent of Vietnam’s gross domestic product.

VLI Director Dang Vu Thanh said that the index, based on other countries’ experiences, is updated daily, thus providing more information about listed logistics companies for investors and investment funds.

On this occasion, a programme voting the top 25 logistics companies in Vietnam was started. The result is scheduled to be announced in June.

According to the VLBA, most of the 1,200 logistics businesses in Vietnam are based in Ho Chi Minh City and Hanoi and are of small and medium size. Meanwhile, 25 multinational logistics enterprises operating in the country have an 80 percent market share.-VNA