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Vietnam’s logistics services expected to contribute 5-6% of GDP by 2025

Vien Nhu Wednesday | 02/24/2021 10:51

Photo: VIR

Vietnam targets a 5-6 percent share of logistics services in the nation’s gross domestic product by 2025, according to an action plan signed recently by Deputy Prime Minister Trinh Dinh Dung.

According to the plan, the growth rate of the logistics sector will be at 15-20 percent and the rate of outsourcing in the logistics industry at 50-60 percent.

In addition, logistics costs are expected to drop to 16-20 percent of GDP, while Vietnam will strive to rank in the world’s top 50 regarding the Logistics Performance Index.

The decision has also added a roadmap for the implementation of the action plan. Specifically, in 2020-2021, the implementation process will be reviewed, in parallel with the continuous deployment of tasks on improving the competitiveness and development of Vietnam’s logistics industry.

In 2022, the tasks will continue to be implemented.

In 2023, a preliminarily assessment of the plan implementation results will be carried out, in addition to the preparation of theoretical and practical bases for the construction of a strategy on the development of Vietnam’s logistics services between 2025-2035, with a vision to 2045.

The year 2024 will see the continuous implementation of the tasks on enhancing the competitiveness and development of Vietnam’s logistics sector, as well as the building of the logistics development strategy during 2025-2035, with a vision to 2045.

In 2025, the implementation of the action plan will be reviewed and evaluated, together with the deployment of the Vietnam logistics development strategy during 2025-2035, with a vision to 2045.

Source: VGP

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