At the event (Photo: moit.gov.vn)

The WLP is a global, private sector-led initiative designed to smooth the flow of global trade, unlock market access and provide economic efficiencies to members.

Enabled by key logistics partners such as airports, ports, and customs, the WLP offers financial and non-financial benefits to traders and freight forwarders as a reward for increasing their trade.

The WLP, the world’s first global freight loyalty scheme, benefits businesses by reducing their supply chain costs and ensuring that goods will be moved faster and more efficiently.

Nguyen Tuong, Deputy Secretary General of the Vietnam Logistics Association, said: "The logistic passport is aimed to create condition for trade activities, help to shorten the time and reduce the logistics costs and related expenses. To do this, we need hubs which means countries need to establish companies that specialize in this field and engage in the network as required."

Vietnam is listed among 29 regional logistics and trade hubs of the program with five businesses becoming its partners.