Logistics services to make up 5%-6% of GDP by 2025

Source: VNA

19:27 | 27/02/2021 Import-Export Follow english.haiquanonline.com.vn on

Vietnam is planning to raise the contribution of logistics services to its gross domestic product (GDP) to 5%-6% by 2025, according to a recent decision signed by the Prime Minister.

Containers are loaded onto a lorry at Cua Lo Port in Nghe An province

Logistics services are expected to grow 15%-20% within the next five years and the country will secure 50th position or higher in the Logistics Performance Index.

The PM’s Decision No 221/QD-TTg, which took effect on February 22, amended and supplemented a decision issued on February 14, 2017 that approved the action plan for improving the competitiveness of and developing Vietnam’s logistics services to 2025.

It also supplements the roadmap for carrying out the action plan.

From 2023, relevant agencies are set to review the action plan’s implementation and prepare the foundation for building a strategy for logistics services development in 2025-2035, with a vision to 2045.

In 2024, they will continue taking measures to promote the competitiveness of and develop such services in Vietnam while preparing a development strategy for 2025-2035.

Implementation of the action plan will be assessed in 2025 and the strategy for 2025-2035 carried out from the same year.

Source: VNA

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