Topic: labor productivity

Labor productivity growth in 2021-2023 lower than target of 5.5%.

Vietnam set to be among the three leading countries in ASEAN in workplace productivity growth by 2030.

Changes in business and production require quick and flexible adaptation from workers.

Addressing the National Assembly on October 28, Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung said Vietnam is short of workers, especially high-quality human resources, which leads to low workplace productivity. Informal labor still accounts for a high proportion of the workforce, while labor mobility and human resources transformation are low.

In order to improve workplace productivity, which is still much lower in Vietnam than in many Asian countries, it is necessary to adopt flexible solutions in terms of both macro- and micro-economic factors. The important issues are training, to systematically improve the quality of human resources, and forming a startup ecosystem.