Vietnamese workers rank high in ASEAN skills competitions, but itslabour productivity remains lower than other countries, Nguyen Anh Tuanof the Vietnam Productivity Institute told Ha Noi Moi newspaper.
Tuan said t he country's labour productivity has increased by 3.5percent annually since 2005, reaching about 74.3 million VND (3,500USD) per labourer, according to recent statistics. However, data from2012 showed Vietnam's productivity was about one fifteenth that ofSingapore, one ninth of Japan's, one seventh of the Republic of Korea'sand one third of Thailand's.
Acdording to theofficial, labour productivity is affected by two factors: capital powerand total factor productivity (TFP). TFP in economics is also calledmulti-factor productivity – the strengthening of investment capital inproduction and business activities. So, infrastructure and transportconstruction will help boost labour productivity.
Thus, with the same quantity of human resources but more preferableconditions, entrepreneurs will have more capacity to boost theirproduction. Labour capacity will also improve, which will lead to anincrease in labour productivity, he said.
In fact,as Vietnam is a developing country, more investment capital power wouldplay an important role in improving socio-economic growth. However, tomaintain economic development and help the nation catch up with otherscountries in the region, Vietnam needs to focus more on improving labourproductivity through an increased use of science and technology.
He added that the country also needs to improve labour quality, and effectively allocate human and financial resources.
On measures being taken to improve national labour productivity,the official cited Prime Minister Nguyen Tan Dung's report at the8th session of the 13th National Assembly, which said that theGovernment will restructure the agricultural sector; construct newrural areas; encourage bio-tech and information technology applications;accelerate mechanisation, technological modernisation and automation;reduce production costs; improve product quality; and promote domesticand foreign financial sources for investment in socio-economicinfrastructure.
The measures also include improving the quality of education and vocational training.
Tuan said the Vietnam Productivity Institute will consult theGovernment and the Ministry of Science and Technology on creatingpolicies on labour productivity.
They will also research human resource training and build new models for labour productivity, he said.-VNA
Tuan said t he country's labour productivity has increased by 3.5percent annually since 2005, reaching about 74.3 million VND (3,500USD) per labourer, according to recent statistics. However, data from2012 showed Vietnam's productivity was about one fifteenth that ofSingapore, one ninth of Japan's, one seventh of the Republic of Korea'sand one third of Thailand's.
Acdording to theofficial, labour productivity is affected by two factors: capital powerand total factor productivity (TFP). TFP in economics is also calledmulti-factor productivity – the strengthening of investment capital inproduction and business activities. So, infrastructure and transportconstruction will help boost labour productivity.
Thus, with the same quantity of human resources but more preferableconditions, entrepreneurs will have more capacity to boost theirproduction. Labour capacity will also improve, which will lead to anincrease in labour productivity, he said.
In fact,as Vietnam is a developing country, more investment capital power wouldplay an important role in improving socio-economic growth. However, tomaintain economic development and help the nation catch up with otherscountries in the region, Vietnam needs to focus more on improving labourproductivity through an increased use of science and technology.
He added that the country also needs to improve labour quality, and effectively allocate human and financial resources.
On measures being taken to improve national labour productivity,the official cited Prime Minister Nguyen Tan Dung's report at the8th session of the 13th National Assembly, which said that theGovernment will restructure the agricultural sector; construct newrural areas; encourage bio-tech and information technology applications;accelerate mechanisation, technological modernisation and automation;reduce production costs; improve product quality; and promote domesticand foreign financial sources for investment in socio-economicinfrastructure.
The measures also include improving the quality of education and vocational training.
Tuan said the Vietnam Productivity Institute will consult theGovernment and the Ministry of Science and Technology on creatingpolicies on labour productivity.
They will also research human resource training and build new models for labour productivity, he said.-VNA
