Topic: bottlenecks

The livestreamed Summer Economic Roundtable 2024, co-hosted by the Party Central Committee’s Economic Commission and Vneconomy / Vietnam Economic Times in Hanoi on July 11, heard recommendations from representatives of State management agencies and business associations as well as other stakeholders on addressing the “bottlenecks” hampering growth in the time ahead.

At a dialogue on the corporate bond market held by VnEconomy on September 30, Dr. Le Xuan Nghia said there are still many bottlenecks in the approval of bond issuance documents, resulting in some businesses losing opportunities.

Addressing the Vietnam Socio-Economic Forum 2022, Mr. Nguyen Quoc Hiep, Chairman of the Vietnam Association of Construction Contractors, proposed several solutions to speed up the disbursement of public investment capital. He said the first bottleneck is that payment and settlement procedures and investment procedures remain cumbersome, and the assignment of responsibilities has not been clarified. The second is that many public construction unit prices are low, some at just one-third of actual implementation, so many contractors do not want to be involved.

Despite improving over recent years, the qualifications and skills of Vietnamese workers are still low compared to requirements in other countries. This continues to be a “bottleneck” for the development of productive jobs. According to the Ministry of Labor, Invalids and Social Affairs (MoLISA), the proportion of Vietnamese workers with degrees and certificates stands at just 26 per cent, with major disparities seen between urban and rural areas and between male and female workers.

The Ministry of Planning and Investment (MPI) worked with southern Binh Phuoc and Binh Duong provinces on July 12 and 13 to remove bottlenecks inhibiting their development, opening up local resources and mobilizing resources from elsewhere to reach socio-economic development goals in both provinces and the southern region as a whole.