Reduce logistics costs, increase economic competitiveness

Identified as an important type of service, the logistics industry (transportation, warehousing...) plays a role in supporting, connecting and promoting socio-economic development. Along with improving infrastructure and encouraging and supporting policies of the State, Vietnam's logistics industry has made many great strides, recognized internationally. However, logistics costs in our country are still high and need to continue to be optimized to increase the competitiveness of the economy.

Continuously growing at high double-digit levels

Developing logistics services not only brings added value and enhances the competitiveness of the economy, but is also associated with commodity production, import and export trade, transportation infrastructure, and information technology. news... According to Deputy Minister of Planning and Investment Tran Duy Dong, in recent years, Vietnam has actively improved mechanisms, policies and logistics infrastructure. Thanks to this, the capacity and ranking of Vietnam's logistics industry are improving. According to the World Bank's ranking, Vietnam currently ranks 64/160 countries in terms of logistics development and ranks 4th in the ASEAN region. The annual growth rate of Vietnam's logistics industry reaches 14-16%, with a scale of 40-42 billion USD/year.

Continue to reduce logistics costs

Reducing logistics costs, thereby helping to reduce prices and improve the competitiveness of goods and services is an important goal being aggressively implemented by the Government, ministries, branches and localities. In 2022, logistics costs in our country are estimated to account for about 17% of total domestic product (GDP), a significant decrease compared to 2018 (about 21% of GDP). However, the above figure is still high compared to the world average. According to the Action Plan to improve competitiveness and develop Vietnam's logistics services to 2025 approved by the Prime Minister, the goal is that by 2025, the contribution ratio of logistics services to GDP will reach 5-5. 6%, growth rate reached 15-20%, logistics costs decreased equivalent to 16-20% of GDP.

To achieve this goal, infrastructure is considered the most important factor. Deputy Minister of Planning and Investment Tran Duy Dong said that during the 15th National Assembly term, the National Assembly has decided to spend 2.87 million billion VND in the medium-term public investment plan for works and projects. In the two years 2022-2023, there will be more than 143,000 billion VND from the Socio-Economic Recovery and Development Program to invest in important works and projects. A large part of this resource is devoted to transportation infrastructure, the lifeblood of the economy and also the lifeblood of the logistics industry. In the past two years, many key infrastructure projects, important highways, and regional connections have been completed. The goal is that by 2025, our country will complete 3,000km of highways and by 2030, complete 5,000km of highways. In addition, coastal roads, connecting roads, seaports, airports... are also being focused on building, contributing to increasing the competitiveness of the economy as well as contributing to reducing logistics costs for these countries. enterprise.