Friday, 22 September 2017
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Commerce Ministry plans to cut Logistic Costs to 12% of GDP

Date: 11 September 2017; Type: Legal News; Source: National News Bureau of Thailand

NONTHABURI, 11 September 2017 (NNT) - The Ministry of Commerce plans to cut the costs of logistic systems to 12 percent of the country's Gross Domestic Product, said Deputy Commerce Minister Sontirat Sontijirawong.

The Ministry of Commerce held the ceremony for the granting of DBD Logistics Management Awards to businesses for their excellences in logistics management.

The deputy commerce minister said logistics is the core development of the country's competitiveness as Thailand is anticipated to become the Trading and Service Nation, and the region's logistics hub.

The country planned to have no less than 5 percent economic growth each year, and is streamlining the logistics management to cut down the logistics costs from 14 percent to 12 percent of the GDP.

A total of 68 businesses have been granted the awards from this ceremony marking their ISO 9001 certification, which will help stimulate other operators to upgrade their services and management to be on par with the international standards.

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