Fostering a culture of innovation is essential to improveproductivity, including embracing technological advances in productionand management, said business operation expert Nguyen Dang Tien.
Vietnam relied on its low-cost labour and material input as itscompetitive edge, a strategy that will falter as the country integratesinto the global economy, especially with the advent of the ASEANEconomic Community and the implementation of free trade agreements thisyear, General Director of Le & Associate Ngo Dinh Duc told aworkshop in Ho Chi Minh City on March 11.
Accordingto the General Statistics Office, Vietnam’s labour productivity hasbeen on the rise, averaging 3.7 percent between 2005 and 2014, butremains below that of other ASEAN nations - at only one-eighteenth ofSingapore’s, one-sixth of Malaysia’s, and one-third of Thailand’s.
The low efficiency rate could be linked to the poor quality of the workforce, trainings and management, experts said.
The workshop was co-hosted by the Business Association of High-QualityVietnamese Products and the Leading Business Club.-VNA
Vietnam relied on its low-cost labour and material input as itscompetitive edge, a strategy that will falter as the country integratesinto the global economy, especially with the advent of the ASEANEconomic Community and the implementation of free trade agreements thisyear, General Director of Le & Associate Ngo Dinh Duc told aworkshop in Ho Chi Minh City on March 11.
Accordingto the General Statistics Office, Vietnam’s labour productivity hasbeen on the rise, averaging 3.7 percent between 2005 and 2014, butremains below that of other ASEAN nations - at only one-eighteenth ofSingapore’s, one-sixth of Malaysia’s, and one-third of Thailand’s.
The low efficiency rate could be linked to the poor quality of the workforce, trainings and management, experts said.
The workshop was co-hosted by the Business Association of High-QualityVietnamese Products and the Leading Business Club.-VNA
