The combination of traditional tools and modern technologies is enabling many Vietnamese enterprises to make significant breakthroughs, helping build a modern productivity and quality ecosystem and driving a new growth model.
Transforming the country’s current economic structure - by understanding its inherent characteristics and implementing effective policies - could significantly boost labour productivity.
To better understand the situation and solutions to increase labour productivity, Vietnam News Agency spoke with the former general director of GSO, Dr Nguyen Bich Lam.
Labour productivity is a decisive factor for the economy’s and every enterprise’s competitiveness and Viet Nam''s is modest compared to other countries in ASEAN.
Improving labour productivity is vital for Vietnamese businesses in the context of Industry 4.0, with rapid increases in digitalisation, robotisation and intelligent automation, experts said.
Viet Nam’s labour productivity has improved but is still low in comparison with other ASEAN members, according to a report by the Ministry of Planning and Investment.
Although Viet Nam has focused on increasing labour productivity and overall productivity growth, there have been relatively few opportunities for SMEs to get customised support as they grow, said OECD.
A world in which robots fully take over from humans in the workplace may seem scary for developing economies, but on-going automation is bringing substantial benefits to businesses and society.