Prime Minister Phạm Minh Chính attended the Vietnam Logistics Forum 2024 in the southern province of Bà Rịa-Vũng Tàu Province and said costs must fall and be capped, to help the country achieve double digit growth.
Inadequate transport infrastructure and connectivity and domestic enterprises’ low capacity, technology adoption and digital transformation are hindering the otherwise rapidly growing logistics industry, experts have said.
Logistics costs continued to skyrocket as demand soared while supply remained limited at least until the end of this year, said industry experts and businesses.
The Import and Export Sub-Department, has received complaints from businesses and business groups about a shortage of containers that has led to an unprecedented increase in shipping tariffs.
The State should develop solutions to reduce high logistics costs in trading agricultural products to improve the competitiveness of Vietnamese farm produce.
The Ministry of Industry and Trade (MoIT) has drafted an action plan to lower logistics costs to 18 per cent of the country’s gross domestic product (GDP) by 2020.
Reducing logistics costs is important to enhance further integration
into global value chains and increase Viet Nam''s competitiveness,
speakers said at a forum held on Thursday in HCM City.