Indonesia, Malaysia, Thailand and Vietnam among leaders in global logistics index
BAAR, Switzerland – February 10, 2020 /PRNews/GIG/ – Southeast Asian countries outdo most other emerging market regions in the 11th annual Agility Emerging Markets Logistics Index, a broad gauge of competitiveness based on logistics strength and business fundamentals.
Business-friendly conditions and core strengths position several Southeast Asian countries near the top of the Index, behind giants China (1) and India (2).
The Index ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers and distributors. Among ASEAN countries, Indonesia (4), Malaysia (5), Thailand (9) and Vietnam (11) are strong. The Philippines is rated at No. 22 on this year’s Index.
In the midst of the US-China trade war, more respondents chose Vietnam than any other country as the place where companies would be likely to move to if they ceased operations in China. Last year, 56% of logistics professionals said Southeast Asian countries would benefit overall as the result of US- China trade tensions, but for 2020 that percentage has decreased to 42%.
Andy Vargoczky, SVP of Sales & Marketing Asia-Pacific, Agility GIL, says the region’s dependence on European and North American export markets is easing as ASEAN countries mature, integrate, consume more of what they make, and rely more on services for economic growth and jobs.
“ASEAN countries are performing well, even in a period of global uncertainty,” Vargoczky says. “Indonesia, Malaysia, Thailand and Vietnam are all in or near the top 10, and their importance in global supply and transport chains continues to grow.”