Vietnam Development Forum seeks to increase productivity

 

Hanoi (VNA) – The Vietnam Development Forum, themed “Leveraging productivity growth for sustainable development”, was held in Hanoi on December 13. 

In his opening speech, Minister of Planning and Investment Nguyen Chi Dung said Vietnam achieved and surpassed 13 socio-economic development goals set by the National Assembly this year. Gross domestic product is estimated at 6.7 percent this year.

Describing productivity improvement as crucial to Vietnam’s sustainable growth and economy, Dung hoped that development partners, firms and experts at home and abroad will suggest effective solutions to the government to enhance output.

World Bank Country Director in Vietnam Ousmane Dione said improved productivity is significant to turning Vietnam into a middle-income country till 2035.

He lauded Vietnam’s growth over the past five years, adding that there remains room for the country to improve economic productivity, upgrade transport and logistics.

According to him, effective collaboration between domestic and foreign firms is important to lifting Vietnam’s status in the global value chain.

Dione suggested the Vietnamese government continue improving its business climate, simplifying administrative procedures and properly allocating land and capital resources.

He also underscored the importance of skill training, innovation and effective use of preferential loans.

During the two sessions, participants look into global trends and experience in increasing productivity and improving Vietnam’s status in the global value chain and agricultural production with less resources.

Prime Minister Nguyen Xuan Phuc will attend the second session on increasing productivity for Vietnam’s sustainable development and deliver a speech to wrap up the forum.

The event was hosted by the Ministry of Industry and Trade and the World Bank in Vietnam.-VNA