Deputy Minister of Transport Le Dinh Tho proposed the Transport Department to cooperate with relevant agencies to reduce logistics costs to 15 percent of the country’s GDP by 2020.
|Cargo being unloaded at CMIT Port in Ba Ria-Vung Tau Province (Photo: SGGP)|
A report is due in April for the itemized cost of logistics.
Logistics costs in Vietnam are extremely high compared to China, Malaysia and Thailand, according to the World Bank. It accounts for 20.9-25 percent of the country GDP, 10 percent higher than many other developing countries in Asia.