HCM City is working on a logistics development strategy that would make the city a major logistics hub and reduce logistic costs to 16 per cent of Vietnam's GDP in 2025.

The city had told the Department of Industry and Trade and Vietnam Logistics Research and Development Institute to work on a logistics development project to 2030.

The project will focus on building three logistic centres through technical infrastructure, and will aim to increase the number of businesses hiring specialised logistic services, with the goal of reducing costs.

In addition, the project will consider locations and scales of logistic centres, as well as improve logistic service quality.

HCM City is the biggest consumer market in the country, and the largest distribution and supply centre in the South. Most of the imports and exports from southern provinces and trade between provinces go through HCM City.

The city, which is also located near major East Sea shipping routes, can use multiple methods of goods delivery due to favourable landscape.

HCM City plans to have eight depots by the end of 2030, with a total size of around 102 to 137 hectares.-VNA