Efforts should be made to increase the competitiveness of domestic enterprises to capture a larger market share and elevate the position of Vietnam's logistics sector.
Vietnam expects to break into the top 40 of the World Bank’s Logistics Performance Index (LPI) for the 2025-2035 period, up from its current ranking of 43rd.
This is one of the key objectives of Vietnam’s draft logistics development strategy for the 2025-2035 period, with a vision for 2045.
At the meeting to announce the draft strategy on May 20, Deputy Director of the Import-Export Department under the Ministry of Industry and Trade Tran Thanh Hai stated that the move aims to “comprehensively and synchronously develop the logistics services sector in line with Vietnam's economic potential.”
For the period 2025-2035, the draft strategy sets ambitious goals to increase the logistics sector's contribution to GDP to 5%-7% and to achieve an average annual growth rate of 12%-15%. The strategy also targets increasing the outsourcing rate of logistics services to 70%-80% and reducing logistics costs to 12%-15% of GDP.
Other targets for this period include 80% of logistics companies adopting digital transformation solutions and 50% of transport vehicles used by logistics companies being powered by green energy. The strategy also seeks to have 70% of the logistics workforce trained to technical standards, with 30% holding a university degree or higher.
Looking ahead to the period up to 2045, the draft strategy aims to further increase the logistics sector's contribution to GDP to 6%-8%, with an average annual growth rate of 10%-12%. The outsourcing rate of logistics services is expected to rise to 80%-90%, while logistics costs are expected to decrease to 10%-12% of GDP. Additionally, Vietnam aims to rank 30th or higher in the World Bank’s LPI by this time.
In terms of specific targets, the strategy envisages that 100% of logistics companies will adopt digital transformation solutions and that all transport vehicles used by logistics companies will be powered by green energy. It also aims for 90% of the logistics workforce to be trained to technical standards, with 50% holding a university degree or higher.
Source: https://vietnamnet.vn/en/vietnam-eyes-world-bank-s-global-logistics-top-40-by-2035-2283353.html
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