Minister underlines urgent need to improve labour productivity
Minister of Planning and Investment Nguyen Chi Dung has 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.
Minister of Planning and Investment Nguyen Chi Dung addresses the conference (Photo: VNA)
Hanoi (VNA) – Minister of Planning and InvestmentNguyen Chi Dung has stressed the urgent significance of improving labourproductivity in promoting growth, overcoming the middle-income trap, avoidingfalling behind and narrowing down development gap with other countries.
Addressing a conference in Hanoi on August 7, the ministerunderlined the need to seek more comprehensive, prompt and effective solutionsto the issue.
According to head of the General Statistics Office NguyenBich Lam, Vietnam’s labour productivity has been enhanced through years, reaching7.08 percent in 2018 to 4,521 USD per labour, much higher than the 2011’sfigure of 55.2 million VND per labour.
He said that in 2018, the labour productivity of theVietnamese economy expanded 6 percent over 2017, with average growth in the2016-2018 period of 5.77 percent, compared to an average of 4.35 percent in the2011-2015 period.
In the 2011-2018 period, labour productivity grew 4.88percent per year, he added.
Lam pointed to reasons why labour productivity in Vietnam islower than that of many countries in the region and the world, including thesmall scale of the economy, slow labour structure shifting, out-of-datemachinery, equipment and technology, and the limited quality of humanresources.
He added that although the labour structure shifting in Vietnam is fast, thenumber of labourers in agro-forestry-fisheries area is still high with lowadded value and low labour productivity.
Minister Dung highlighted that defining factors impactinglabour productivity is key to seek suitable measures to improve the speed of increasinglabour productivity in the future.
At the event, participants also discussed measures at macrolevel to speed up economic restructuring and growth model renewal, along withdeveloping human resources quality, among others.-VNA
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Minister of Planning and Investment Nguyen Chi Dung addresses the conference (Photo: VNA) 
