Viet Nam eyes productivity to grow 7.5 percent annually by 2030

Update: 20:00 | 13/01/2021
Viet Nam expects annual growth of labour productivity to exceed 7.5 percent by 2030, according to a master plan on enhancing productivity based on science, technology and innovation for the 2021-2030 period recently issued by the Prime Minister.
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Vietnam eyes productivity to grow 7.5 percent annually by 2030
A woman works on an assembly line of a smartphone inside Samsung's hi-tech complex in the northern province of Thai Nguyen. (Photo: VNA)

The purpose of the master plan is to make productivity a key driver of all sectors by the application of new scientific and technological achievements, advanced management systems and tools for productivity improvements and human resources training and retraining in the era of the Fourth Industrial Revolution.

It aims to help the country boost the annual labor productivity growth to over 7.5 percent and to contribute about 50 percent of the economic growth.

About 30 – 35 cities and provinces alongside 5 – 7 groups and corporations are expected to join the development and implementation of the master plan.

Additionally, at least 500 small- and medium-sized enterprises (SMEs) will devise and carry out key projects on productivity improvement, while at least 20 universities and vocational training centers will have productivity improvement clubs for students.

Under the master plan, ministries and local administrations will improve legal framework to boost labor productivity based on science, technology and innovation; promote research, consultation and training and develop organisations supporting productivity improvement; accelerate the use of advanced management systems, models and tools to raise productivity in businesses; and increase awareness campaigns about this matter.

The plan also urges for the development of training programs in productivity and career counseling at universities and other vocational training centers and the cooperation among providers of tech solutions that participate in major productivity improvement projects in specific areas.

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(Source: VNA)