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Vietnam launches national labour productivity movement
Vietnam launches national labour productivity movement
7/8/19
Prime Minister Nguyen Xuan Phuc launched the national labour productivity movement during a conference held in Hanoi on August 7.
According to data released by the General Statistics Office (GSO), the labour productivity in Singapore, Malaysia, Thailand and Indonesia was 13.7, 5.3, 2.7 and 2.2 times higher than that of Vietnam in 2018.
The mining sector recorded the highest labour productivity while agro-forestry-fisheries posted the lowest, only about 38.9 percent of the whole economy’s.
The GSO attributed it to small economic size, outdated machinery, limited workforce quality and poor management of resources.
However, the PM said the labour productivity remains low but increases steadily over years.
In order to raise labour productivity, he outlined six major orientations, including refining socialist-oriented market economy mechanism, improving State governance and national competitiveness, promoting shift of labour structure to quality services, reforming finance-banking, accelerating reform in State and private sector, attracting foreign direct investment in priority fields, and integrating into the global economy.
Six tasks include refining mechanisms to effectively tap resources, improving the effectiveness of labour market in both supply and demand, attracting talents at home and abroad, enhancing education quality which should be considered the top national policy in the new situation while paying attention to investing in science-technology.
The Ministry of Planning and Investment was assigned to collect feedback at the event to devise laws to submit to the PM for consideration.
Concluding the event, the leader said improving labour productivity is an important task that needs involvement of the entire political system, business community, and contingent of scientists, researchers and managers./.
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All comments [ 16 ]
The productivity of the workforces in Vietnam’s key sectors of industry and construction has long been unchanged, hindering overall economic growth.
The authorities have stressed the urgent significance of improving labour productivity in promoting growth, overcoming the middle-income trap, avoiding falling behind and narrowing down development gap with other countries.
The labour productivity of the Vietnamese economy expanded 6 percent over 2017, with average growth in the 2016-2018 period of 5.77 percent, compared to an average of 4.35 percent in the 2011-2015 period.
The Government needs to establish a national strengthening productivity committee to better labour productivity, thus promoting the economic growth.
the national strategy on enhancing Vietnam’s labour productivity should be carried out with specific targets in different stages so that the country will not lag behind neighbouring countries in the region in terms of labour productivity growth.
The Government should send delegations to Singapore, Japan and the Republic of Korea to study their experience in the field.
Factors affecting labour productivity growth include the small scale of the economy, slow labour structure shifting, out-of-date machinery, equipment and technology, and the limited quality of human resources.
The shortcoming has been a barrier to the country’s target to have a fast and sustainable growth and improve economic competitiveness.
Enterprises are yet to give proper priority to technology update in support of their employees and create better working environment for them.
Businesses should be put at the centre of the Government’s policies. The Government should create favourable conditions for local firms to better technology capacity in order to increase labour productivity.
Although the labour structure shifting in Vietnam is fast, the number of labourers in agro-forestry-fisheries area is still high with low added value and low labour productivity.
Tackling the issue requires concerted efforts among macroeconomic management agencies and businesses.
Defining factors impacting labour productivity is key to seek suitable measures to improve the speed of increasing labour productivity in the future.
Increasing labour productivity will shorten the development gap with other nations and time to have prosperity.
Breakthrough measures should be deployed to encourage companies to re-arrange their production and organisation to optimise labour productivity.
It is necessary to implement preferential policies in land, taxes and credit for any firm with advanced technology production line. The Government should encourage local businesses to join global value chain to better productivity.
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