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Economic News

Last updated: Friday, May 26, 2017

 

Six Tasks to Raise Logistics Share to 8-10 Pct of GDP

Posted: Thursday, February 23, 2017


The Prime Minister recently signed Decision 200/QD-TTg dated February 14, 2017 to approve an action plan to enhance logistics competitiveness and develop logistics services of Vietnam to 2025.

The plan sets six groups of tasks, including (1) perfecting policies and legal regulations on logistics; (2) improving logistics infrastructure; (3) improving business competence and service quality; (4) developing logistics service market; (5) raising human resource quality via training; and (6) other tasks...

According to the action plan, by 2025, the logistic service sector will make up 8 - 10 per cent of the country’s GDP; expand at an average growth rate of 15 - 20 per cent; cut costs by 16 - 20 per cent of GDP; and rank 50th or higher in the Global Logistics Performance Index (LPI).

The action plan targets to invest more in developing logistics infrastructure; building regional and international logistics centres; and enhancing logistics connectivity between Vietnam and other countries, and turning Vietnam into a logistics hub in the region.

Ha Vu

 








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