The logistics services sector is expected to contribute 6-8 per cent to Vietnam’s GDP by 2030 and 15-20 per cent by 2050 under a draft strategy on logistics development.

The Ministry of Industry and Trade (MoIT) held a conference in Hanoi on January 23 to discuss the strategy.

It aims at sustainably and effectively developing the logistics sector with high added value and international competitiveness, helping promote Vietnam’s advantages in global value chains, according to Deputy Director of the MoIT’s Export and Import Department Tran Thanh Hai.

In order to meet targets, the strategy recommends measures such as completing regulations, improving the business and investment environment, encouraging different economic sectors to participate in developing logistics services, boosting investment in logistics infrastructure, applying information technology, promoting digital transformation, and training high-quality human resources.

There are over 34,000 enterprises in Vietnam providing logistics services.

According to the World Bank, Vietnam ranked 43rd in the global logistics performance index in 2023.

The logistics sector has recently posted an annual growth rate of 14-16 per cent.