The cabinet on Tuesday approved the new national logistics development plan (2023-27), aiming to reduce logistics costs to 5% of the country's GDP from 13.8% in 2021.
According to government deputy spokesperson Rachada Dhnadirek, the plan also aims for Thailand to become the trading gateway to the region.
The plan focuses on five areas, including the development of transport infrastructure and facilities, such as a comprehensive transport network and logistics system between ports, railways, roads and airports linked with economic zones, important industrial areas and border checkpoints.
The strategy also aims for the development of logistics service centres and important border checkpoint improvement, logistics infrastructure and service centre management, and the utilisation of advanced digital technology.
Another area of emphasis is upgrading standards and adding value to supply chains such as developing logistics management and agricultural supply chains, while building suitable ecosystems for the growth of industrial entrepreneurs and environmentally-friendly operations.
The plan also aims to develop customs clearance related to import-export procedures and facilitate international logistics through information linkage and the National Single Window system.
The final prong of the plan is to facilitate cross-border transport of goods, accelerate cooperation and resolve barriers to international shipping, and improve laws and regulations related to international transport and logistics.
"The ultimate goal of the new plan is to reduce the national logistics costs to 5% of GDP by 2027 and inventory holding costs to 5% of GDP from 6.4% in 2021," said Ms Rachada.
She said Thailand's logistics costs are likely to improve thanks to the recovery of the domestic economy, a revival in tourism and the government's stimulus measures.
The ratio of logistics costs-to-GDP is expected to decrease to 12.9-13.3% of GDP in 2022 from 13.8% in 2021 and 14% in 2020, said Ms Rachada.
In a related development, the cabinet also approved establishing the National Big Data Institute (NBDi) as a major provider of data analytics.
The institute is expected to handle a large pool of data analytics for the public and all state agencies.
The NBDi will be developed from the existing Government Big Data Institute (GBDi), which is overseen by the Digital Economy Promotion Agency.
All GBDi staff and assets will be transferred to the NBDi.
