Government works to slash logistic costs
(VOVWORLD) -The Vietnamese government is seeking ways to improve transport connectivity and cut logistic expenses, which account for more than 20% of the country’s GDP.
 PM Nguyen Xuan Phuc addresses the national logistics conference in Hanoi on April 16, 2018. (Photo: VNA) |
Prime Minister Nguyen Xuan Phuc told a national logistics conference in Hanoi on Monday that the most effective solutions to reducing logistic costs for businesses should be worked out promptly, stressing the need to improve transport connectivity among ports, railway stations and airports.
“High logistics costs have become a major barrier for businesses and reduce the competitiveness of the national economy. This is partly attributed to inappropriate investment and poor connectivity. We should focus more on means of transport other than roads,” said Prime Minister Phuc.
According to the World Bank, Vietnam ranked 64th of 160 countries in the Logistics Performance Index in 2016. Transportation costs amount to nearly 60% of expenses for logistic services in the country.