Competitiveness of logistics sector strengthened
The Vietnam Logistics Business Association (VLA) on April 12 launched the implementation of the Prime Minister’s decision approving an action plan to improve competitiveness and development of logistics services by 2025.
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VLA President Le Duy Hiep said that this is the first national action plan on the logistics sector which is determined a high added value sector.
Under the plan, the sector aims to contribute 8-10% to gross domestic product (GDP) by 2025.
It also strives to achieve 15-20% service growth, reduce costs by 16-20% of GDP and rank 50th or better globally in terms of national competitiveness.
Attention will be paid to forming leading logistics businesses that have good competitiveness, attracting investment in infrastructure, building logistics centres on regional and international scales, and improving the links between Vietnam and other countries.
At present, the logistics sector has a growth rate of 16-20% and is one of the sectors with the best and most steady growth. It is key to increase businesses’ competitiveness in the intensive integration. However, logistics costs remain high and infrastructure remains weak.
