Trade & Industry Ministry to lower logistics costsThe Ministry of Industry and Trade (MoIT) has drafted an action plan to lower logistics costs to 18 percent of the country’s gross domestic product (GDP) by 2020. Hai said that in the integration process, multinational logistics firms hold a significant market share in providing logistics services in Vietnam. “The country’s logistics effectiveness has been low, while available resources have not been fully exploited,” he added. He said the action plan will focus on short- and mid-term solutions to improve the logistics sector in the next 7-8 years. The ministry plans to enhance ability for businesses providing the logistics services to catch up with international development trends.

Source: VietNamNet News February 16, 2017 03:53 UTC