Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Tuesday, June 28, 2022

Competitive transport market development scheme approved

Updated: 08:47’ - 05/07/2019
The Prime Minister on June 7 issued Decision 703/QD-TTg, approving the scheme on competitive transport market development, in an attempt to appealing more investors into the market.

The scheme aims to develop multimodal transport, connect different forms of transport, and focus on applying information technology to reduce transport costs, thereby facilitating businesses’ distribution of their goods and services.

The Decision is expected to raise the operational capacity, business
efficiency and competiveness of transport service providers__Photo: Internet

To achieve the above targets, the scheme looks to enhance the state management, renovate and improve legal institutions and policies, and create a highly effective legal environment for transport, ensure necessary conditions to restructure the transport forces, and encourage all economic sectors to invest in transport.

It also requires further implementation of the e-government architecture framework of the Ministry of Transport, formulation of the common-use database system to build the national database on transport, creation of transport-related applications in service of the state management, people and businesses.

Also, it is expected to raise the operational capacity, business efficiency and competiveness of transport service providers, complete the equitization of state enterprises engaged in transport so as to form transport enterprises capable of connecting transport and logistics service chains in order to provide multimodal transport services.

With the enhanced connection of different transport modes, especially along main transport routes, it is expected to improve the quality of transport services, and reduce total freights to around 10 percent of the gross domestic product (GDP), contributing to reducing Vietnam’s logistics costs to around 15 percent of GDP.

Under the scheme, the Ministry of Transport is tasked to coordinate with ministries, sectors and localities in implementing the scheme as well as closely managing and supervising operations of transport enterprises to ensure the sound competitive environment for transport enterprises.- (VLLF)

Send Us Your Comments:

See also:


Vietnam Law & Legal Forum