At the Vietnam Socio-economic Forum (Photo: VNA)Hanoi (VNA) – Vietnam needs to outline rational policies topromote intrinsic strength of businesses with a view to boosting socio-economicdevelopment, experts said on the sidelines of the Vietnam Socio-economic Forumheld in Hanoi on September 19.
Jonathan Pincus, UNDP SeniorInternational Economist, said Vietnam shouldgive fresh impetus to national innovation and invest big in research and development(R&D) activities with a view to improving labour productivity in long term.
He added that Vietnam’s spending on R&D activities, a measure to evaluatethe ability to better labour productivity, has lagged behind that in China,Thailand and Malaysia.
Besides, rational mechanisms should be put in place to lure leading Vietnamesescientists to domestic institutes and universities, he said, highlighting theywill make practical contributions to the national development.
Low worker productivity has hampered economic recovery post pandemic, otherexperts said, pointing a shortage of employees with substantial experience andskills, and a large number of micro and small businesses as major reasons.
While government policies to renew the growth model and enhance innovation inscience and technology have created favourable conditions to better labourproductivity, they have been carried out in a sluggish fashion due to poorengagement from businesses.
According to Nguyen Le Hoa, Director of the Department for ProductivityResearch at the Vietnam Productivity Institute, Vietnam should take moredrastic measures to boost labour productivity, with inter-departmental andinter-ministerial coordination put at the focus to build uniform policies.
Meanwhile, Felix Weidencaff, an employment specialist from the InternationalLabour Organsiation (ILO), said that due attention should be given to small andmedium enterprises, the key players in the Vietnamese economy, so as to promotelabour productivity in a sustainable fashion.
The ILO specialist recommended Vietnam develop human resources and create morejobs to meet the increasing demand of the knowledge economy and the Industry4.0.
The country should work to tackle the nature of unemployment and handle newchallenges, he added.
Nguyen Dinh Cung, former Director of the Central Institute for EconomicManagement, advised the Government to create friendly policies for the privateeconomic sector, which contributes nearly 50% to the nation’s GDP.
Easier access to capital, interest rate cut, tax reduction, and removal of complicatedprocedures will be great support for businesses this time, he said./.
He added that Vietnam’s spending on R&D activities, a measure to evaluatethe ability to better labour productivity, has lagged behind that in China,Thailand and Malaysia.
Besides, rational mechanisms should be put in place to lure leading Vietnamesescientists to domestic institutes and universities, he said, highlighting theywill make practical contributions to the national development.
Low worker productivity has hampered economic recovery post pandemic, otherexperts said, pointing a shortage of employees with substantial experience andskills, and a large number of micro and small businesses as major reasons.
While government policies to renew the growth model and enhance innovation inscience and technology have created favourable conditions to better labourproductivity, they have been carried out in a sluggish fashion due to poorengagement from businesses.
According to Nguyen Le Hoa, Director of the Department for ProductivityResearch at the Vietnam Productivity Institute, Vietnam should take moredrastic measures to boost labour productivity, with inter-departmental andinter-ministerial coordination put at the focus to build uniform policies.
Meanwhile, Felix Weidencaff, an employment specialist from the InternationalLabour Organsiation (ILO), said that due attention should be given to small andmedium enterprises, the key players in the Vietnamese economy, so as to promotelabour productivity in a sustainable fashion.
The ILO specialist recommended Vietnam develop human resources and create morejobs to meet the increasing demand of the knowledge economy and the Industry4.0.
The country should work to tackle the nature of unemployment and handle newchallenges, he added.
Nguyen Dinh Cung, former Director of the Central Institute for EconomicManagement, advised the Government to create friendly policies for the privateeconomic sector, which contributes nearly 50% to the nation’s GDP.
Easier access to capital, interest rate cut, tax reduction, and removal of complicatedprocedures will be great support for businesses this time, he said./.
VNA
