To better understand the situation and solutions to increase labour productivity, Vietnam News Agency spoke with the former general director of GSO, Dr Nguyen Bich Lam.
Labour productivity is a decisive factor for the economy’s and every enterprise’s competitiveness and Viet Nam''s is modest compared to other countries in ASEAN.
Improving labour productivity is vital for Vietnamese businesses in the context of Industry 4.0, with rapid increases in digitalisation, robotisation and intelligent automation, experts said.
Viet Nam’s labour productivity has improved but is still low in comparison with other ASEAN members, according to a report by the Ministry of Planning and Investment.
Although Viet Nam has focused on increasing labour productivity and overall productivity growth, there have been relatively few opportunities for SMEs to get customised support as they grow, said OECD.
A world in which robots fully take over from humans in the workplace may seem scary for developing economies, but on-going automation is bringing substantial benefits to businesses and society.
Viet Nam is striving for sustainable development on the basis of improving growth quality and taking advantage of the Fourth Industrial Revolution to increase labour productivity and competitiveness to move up in the global value chain.
Despite having increased at a relatively fast pace in recent years, Viet Nam’s labour productivity remained in the lowest group in East Asia with scores in backbone sectors of the economy even falling behind Cambodia.
Renovating the growth model and raising productivity are the key tasks to develop Viet Nam’s economy, said Vu Tien Loc, chairman of the Viet Nam Chamber of Commerce and Industry (VCCI), at a conference held in Ha Noi on Monday.