Decreasees in labour productivity have deterred Vietnam’s economic growth, especially during 2003-2013. Improving labour productivity is now critical to boost the country’s GDP and helps Vietnam to become an industrialised and upper-middle income nation in the near future.
Experts said the growth of Vietnam’s labour productivity remains under necessary levels to obtain rapid and substantial growth target. For that reason, labour productivity has become one of the Government’s biggest concerns in recent years.
Vietnam’s labour productivity is the lowest compared to other countries in the region such as Japan, the Republic of Korea, China, Singapore and Thailand.
It is time for Vietnam to boost labour productivity and learn from experiences of other countries like Japan, Singapore and the Republic of Korea Labour productivity is not only a matter in businesses and State bodies, but people should also think out of the box to increase labour productivity./.
