Logistics expected to make up 8-10 percent of Vietnam’s GDP by 2025
Vietnam’s logistics sector is expected to make up 8–10 percent of the country’s gross domestic product (GDP) by 2025.
Illustrative image (Source: VNA)
Hanoi (VNA) – Vietnam’s
logistics sector is expected to make up 8–10 percent of the country’s gross
domestic product (GDP) by 2025.
The target was set in an action plan on
enhancing competitiveness and developing logistics services by 2025 recently
approved by Prime Minister Nguyen Xuan Phuc.
Under the plan, the logistics sector is
expected to grow by 15 – 20 percent by 2025.
The action plan also aims to make
Vietnam one of the world’s 50 leading logistics service providers and to reduce
logistics costs to 16 – 20 percent of GDP.
To achieve the goals, the plan suggested
improving policies, attracting more investment into logistics infrastructure and
fostering cooperation between local logistics firms and international partners.
It also hopes to enhance logistic
infrastructure connectivity to link Vietnamese ports with neighbouring
countries.
According to the plan, investment is
called for the construction of type I logistic hubs in Hanoi and Ho Chi Minh City
and type II logistic centres localities such as Lang Son, Lao Cai, Hai Phong,
Da Nang, Quy Nhon and Can Tho.-VNA