Seeing the important role of the private sector to local development, Ho Chi Minh City will work to attract more private investment to carry out smart urban area projects and branch out Industry 4.0 services, said Secretary of the municipal Party Committee Nguyen Thien Nhan.
The Vietnam Chamber of Commerce and Industry (VCCI) held a seminar in Hanoi on March 21 to seek to increase labour productivity to enhance national competitiveness.
Provinces and cities in the Mekong Delta have set ambitious targets this year with a focus on high-quality agriculture combined with eco-tourism, services and industry.
Labour productivity in the Vietnamese economy has been estimated at 102 million VND (4,512 USD) per workhand in 2018, up 8.8 million VND (346 USD) from the previous year, according to the General Statistics Office (GSO).
After five years of implementing the project “Restructuring agriculture towards improving added value and promoting sustainable development”, agricultural production has surged significantly.
Vietnam’s agriculture sector is aiming for annual growth of a minimum 3 percent, with labour productivity improving 3.5 percent a year by 2020, said Deputy Minister of Agriculture and Rural Development Ha Cong Tuan.
Decreasees in labour productivity have deterred Vietnam’s economic growth, especially during 2003-2013. Improving labour productivity is now critical to boost the country’s GDP.
Although Vietnam has focused on increasing labour productivity and overall productivity growth, there have been relatively few opportunities for small- and medium-sized enterprises (SMEs) to get customised support as they grow, said Max Bulakovskiy, policy analyst in Global Relations at the Organisation for Economic Cooperation and Development (OECD).
Vietnam can escape the middle income trap to achieve rapid and sustainable growth only by improving its labour productivity, heard a policy dialogue on September 26 in Hanoi.
The issue of labour productivity attracted much attention at a forum in Hanoi on September 24 that focused on Vietnamese trade unions’ support for the Government’s efforts to improve national competitiveness and sustainable development.
Accelerating agricultural restructuring towards national-scale, high-tech production has become a key goal for the central coastal province of Binh Thuan as it aims to reach an average 3.3-3.8 percent annual growth for its agro-forestry-fishery sector during the 2018-2020 period.
The Mekong Delta province of Tra Vinh plans to increase the production values of the agro-forestry-fishery sector by more than 4 percent by 2020, according to the provincial People’s Committee.
The Government’s Economic Advisory Group should work to analyse internal and external difficulties to propose rational mechanisms for the nation’s sustainable economic growth, said Prime Minister Nguyen Xuan Phuc.
Enhancing Vietnam’s labour productivity is the priority of the Vietnam – Japan Joint Initiative that aims to improve Vietnam’s investment environment, a Japanese diplomat has said.
Vietnam’s garment-textile export turnover is expected to hit 18.5 billion USD in the second half of 2018, bringing the year’s export value to 35 billion USD, 1 billion USD higher than the target set for the year, heard a press conference in Hanoi on July 30.
As Vietnam’s economic hub, Ho Chi Minh City boasts advantages to develop startups, with its science-technology resources accounting for 25 percent and the number of operating businesses taking up 50 percent of the country’s, while its labour productivity is 2.5 times higher than the national average.
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