(VEN) - Vietnam’s logistics service industry has been formed since the 1990s based on transportation, freight forwarding and warehousing services. The industry has gone through its initial development period and achieved an annual growth rate of 15-16 percent. The World Bank’s Logistics Performance Index (LPI) Reports showed that Vietnam ranked 48th among 160 countries worldwide in 2014 and 64th in 2016. In ASEAN, Vietnam ranked fourth in 2014 and fifth in 2016, after Singapore, Malaysia, Thailand and Indonesia. However, this index focuses on evaluating international logistics services and therefore is yet to reflect the actual growth of the Vietnamese logistics service industry.