Prime Minister Pham Minh Chinh underlined the urgent need for this in materialising Vietnam's aspiration to become a high-income country by 2045.
Vietnam's Prime Minister Pham Minh Chinh has outlined four overarching areas that aim to place the country's labour productivity growth back on its intended performance track.
The PM shared these areas during a meeting with Asian Productivity Organisation's (APO) Secretary-General Dr. Indra Pradana Singawinata last week, during which he underlined the urgent need to boost Vietnam's labour productivity performance in materialising the country's aspiration to become a high-income country by 2045.
The four areas of focus are: enhancing institutional quality, upgrading human capital development, advancing governance capacity, and refining resources management. These will serve as the basis of Vietnam’s productivity strategy and movement, carried out in tandem with efforts to increase innovation capability.
In driving this, PM Pham shared that several national pilot projects will be launched in selected industries that are significant in improving labour productivity, in collaboration with the private sector and other stakeholders.
The PM also added that deeper collaboration with, and further assistance by the APO will play a key role in the above.
In addition to his updates, PM Pham also sought the advice of APO on the possible solutions to put in place for existing challenges. In response, APO SG Dr. Indra cited socioeconomic stability, human capital quality, and work attitude as among the fundamentals that Vietnam can capitalise on in aiming for greater prosperity.
In line with this, he stressed the need to look into the institutional arrangement of the productivity movement as it is a key ingredient of a highly productive economy.
"Institutional fine-tuning, together with prioritising the productivity agenda and continuous strengthening of the capacity of key productivity-promoting institutions, could help translate the strategy into tangible results," he added.
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