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HCM City earmarks $4.1 bln for logistics development

Ho Chi Minh City has approved a $4.1 billion project to develop its logistics sector over the next 10 years. 

This is one of the city’s 45 "breakthrough" projects that aims to have the sector contribute 12 percent of the gross regional domestic product by 2030.

As it concerns transport for domestic circulation, import and export of goods and services, the project enumerates several key objectives and solutions.

For logistics infrastructure, it would have the city develop closed ring roads and a system of highways to connect the city with other southern provinces.

The city will also promote the transportation of goods by waterways and the railways, strengthen multimodal transport connections to logistics centers, build inland container depots, warehouses and distribution centers.

These and other solutions are expected boost logistics business revenues by 15 percent in 2025 and 20 percent in 2030.

The proportion of the logistics sector's contribution to the city's GRDP would also be increased to 10 percent by 2025 and 12 percent in 2030./.VNA


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