At a conference on improving national productivity, organized by the ministry and the General Statistics Office (GSO), MPI Minister Nguyen Chi Dung said the early establishment of a national productivity committee is ‘very necessary’. Vietnam will have an agency specializing in productivity acceleration. It will be in charge of coordinating and connecting Vietnam’s national productivity drivers. Vietnam also needs to build and implement a national program on raising productivity with general and specific goals for different periods to make national productivity catch up with other regional countries. By 2018, Vietnam’s productivity was VND102.2 million, or $4,521 per worker, nearly double that of 2011, increasing by 4.88 percent per annum compared with 2011-2018 period, according to GSO. With the figures, Vietnam had country a high productivity growth rate in ASEAN (1.4 percent for Singapore, 2 percent for Malaysia, 3.2 percent for Thailand, 3.6 percent for Indonesia and 4.4 percent for the Philippines). However, Vietnam’s productivity remains at a low level. If calculating productivity according to PPP (purchase power parity) in 2018, productivity would be $11,142, just 7.3 percent of Singapore’s, 19 percent of Malaysia’s, 37 percent of Thailand’s, 44.8 percent of Indonesia’s and 55.9 percent of the Philippines’. Vietnam’s economy has… Read full this story
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