Lowering logistics costs key to competitiveness


HANOI: Lowering logistics costs is key to increasing the competitiveness of Vietnam’s export products and the whole economy.

The latest figures of the Vietnam Logistics Association revealed that logistics costs were equivalent to around 20% to 22% of the country’s gross domestic product, much higher than Thailand (19%), China (18%), Malaysia (13%) and nearly three times higher than the United States and Singapore (8%).

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