Logistics services expected to contribute 5-6% of GDP by 2025
17:12 | 23/02/2021

VGP - Deputy Prime Minister Trinh Dinh Dung has signed a decision on amendments and supplements to the Prime Minister’s Decision No. 200/QD-TTg dated February 14, 2017 approving an action plan to improve the competitiveness and development of Viet Nam’s logistics industry to 2025.

Illustraition photo

Accordingly, Clause 1 of Section 2 (Goals) of Article 1 has been revised, targeting a 5-6% share of logistics services in the nation’s gross domestic product (GDP) by 2025, the growth rate of the logistics sector at 15-20% and the rate of outsourcing in the logistics industry at 50-60%.

In addition, logistics costs are expected to drop to 16-20% of GDP, while Viet Nam will strive to rank in the world’s top 50 regarding the Logistics Performance Index (LPI).

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 Viet Nam’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 Viet Nam’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 Viet Nam’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 Viet Nam logistics development strategy during 2025-2035, with a vision to 2045.

                 By Vien Nhu

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