Part of the Enabling Trade Index ranking (Photo: weforum.org) Hanoi (VNA) –The Enabling TradeIndex of Vietnam climbs 14 ranks to 73rd worldwide, according to theWorld Economic Forum’s Global Enabling Trade Report 2016.
The better ranking is mostly attributableto improvements in border administration, with improved customs efficiency andreduced times for documentary and border compliance forboth importing and exporting.
These changes reflect the government’sefforts to optimise border procedures and reduce the burden of inspections bymultiple agencies.
There is still a long way for the countryto go and rise to international standards, the report said, adding that Vietnamhas boosted access to its domestic this year.
Thanks to a lower average tariff, Vietnam’spossibility to enter foreign markets has also improved.
Infrastructure performance has been uneven,with improvements in transport infrastructure and a deterioration of services.
Meanwhile, stronger protection of propertyrights and increased efficiency of public institutions has contributedsignificantly to the enhancement of the local operating environment.
Singapore is the top best performer of theindex, followed by the Netherlands and Hong Kong (China).
The Global Enabling Trade Report series hasbeen published since 2008, initially on an annual basis, and biennially since2010. The assessment has been based on the Enabling Trade Index, which assesses136 economies across the globe and their capacity in terms of institutions,policies, infrastructures and services to facilitate the free flow of goods.-VNA
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