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Vietnam To Become A Regional Logistics Hub By 2025

Mar 03, 2017 167
Vietnam To Become A Regional Logistics Hub By 2025

The logistics sector is expected to make up 8-10 percent of the country’s gross domestic product (GDP) by 2025.

This target is set forth in a recently unveiled action plan to develop and raise the competitiveness of logistics services in Vietnam up to 2025.

Container storage activities of the Joint Venture between the Port of Hai Phong and RoK's Heung-A Shipping Co., Ltd.__Photo: Lam Khanh/VNA

The plan, which is approved on February 14 under Prime Minister Decision No. 200/QD-TTg, also aims at the objectives that by 2025, the logistics sector will grow by 15-20 percent, logistics costs will be cut to 16-20 percent of GDP, and Vietnam will be ranked 50th or higher in the world in terms of the logistics performance index.

In addition, the plan looks to lure investment capital to build logistics infrastructure and develop regional- and international-level logistics centers, especially those in big cities and provinces as Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, Can Tho, Quy Nhon, Lang Son and Lao Cai.

To realize the above-mentioned targets, the plan sets out six groups of tasks, including improving policies and laws on logistics, developing the logistics service market, and raising capacity of logistics service businesses and service quality, among others.