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| Delegates participated in a roundtable discussion at the 2nd session of the topic "Improving labor productivity and ensuring social security in the new context". (Source: National Assembly) |
On the morning of September 19, within the framework of the Vietnam Socio-Economic Forum 2023, following the discussion session on Topic 1 with the theme "Strengthening internal strength, unleashing resources, supporting businesses to overcome difficulties", delegates conducted the discussion session on Topic 2 with the theme "Improving labor productivity, ensuring social security in the new context".
At the discussion, Mr. Felix Weidencaff, employment expert at the International Labor Organization (ILO) Regional Office for Asia and the Pacific, said that the trend of declining productivity growth in the long term is happening in almost all regions of the world. This poses many policy challenges and changes the global macroeconomic environment.
Emphasizing the importance of increasing productivity, the ILO employment expert said that Vietnam needs new momentum for productivity growth. Accordingly, transformation, sustainable economic development and employment transformation, and labor productivity increase must go hand in hand. In addition, it is necessary to improve labor market institutions and policies to address dual challenges.
Mr. Felix Weidencaff stated: "In the coming time, Vietnam needs to develop human resources and increase employment to meet the growing needs of the knowledge economy, technology and industry 4.0; change the nature of unemployment and new challenges; establish an effective labor market information system. At the same time, increase productivity and sustainable employment, especially focusing on small and medium enterprises...".
Explaining the reasons for Vietnam's low labor productivity, Dr. Nguyen Le Hoa, Head of the Productivity Research Department (Vietnam Productivity Institute) said that the country is lacking highly skilled workers; the private economic sector accounts for a large proportion but most of them are small and micro-sized, so it is difficult to improve labor productivity in this field.
Although the State's policies focusing on economic restructuring have had a positive impact on productivity growth in Vietnam, intra-industry productivity has not yet met expectations. Industries that contribute highly to the Gross Domestic Product (GDP) and employ a high number of workers have low productivity and growth rates have not yet met expectations.
According to Dr. Nguyen Le Hoa, in recent times, there have been many major policies of the Party and State to promote the improvement of labor productivity in Vietnam, such as renewing the growth model, resolving administrative procedures, and innovating science and technology. However, support programs for businesses have not had active participation from businesses.
"Therefore, in the coming time, activities to promote labor productivity improvement in Vietnam need to be implemented more strongly. In particular, focusing on coordination between ministries, sectors and localities to build synchronous and consistent policies; creating conditions to promote resources and create conditions for the private economic sector to promote its role in increasing labor productivity; increasing the capacity to implement policies to promote productivity, focusing on industries that contribute high added value and employ a lot of labor," said Ms. Hoa.
Sharing international experience in improving productivity, Mr. Jonathan Pincus, senior international economist of the United Nations Development Program (UNDP) in Vietnam, informed that currently, in the world, there are only about 11 countries that can maintain long-term productivity growth, of which the United States is the leading country and most of the countries are in Europe. These are all successful exporting countries, taking advantage of foreign demand to increase the scale of production in both industrial and agricultural sectors.
In Southeast Asia, Mr. Jonathan Pincus said that Thailand and Malaysia have fast labor productivity growth rates, however, these two countries have not been able to maintain labor productivity growth rates after the Asian financial crisis.
These countries failed to upgrade their development policies when they reached middle-income levels, but continued to pursue growth policies based on low-cost exports without innovating to upgrade technology and upgrade the capacity of domestic manufacturing industries.
Vietnam is a middle-income country that has achieved “admirable” growth. The question is whether this country will fall into the middle-income trap like the above countries. According to UNDP experts, the key issue is that Vietnam must succeed in building a national innovation system.
Speaking at the conclusion of the discussion session on Topic 2, Deputy Head of the Central Economic Commission Nguyen Duc Hien said that regarding the issue of improving labor productivity, in the short term of 2023, Vietnam needs to pay special attention to policies that create a foundation to promote productivity, increase investment in science and technology, and education and training.
We must not neglect the issue of productivity, even in difficult economic conditions. We need to pay attention to investing adequately in innovation and technological development.
In the long term, the country needs to reform the internal industry structure, create sustainable productivity, create synchronization in implementation stages, improve human resource quality, and promote digital transformation in the business community.
This year's Vietnam Socio-Economic Forum 2023 is held with the theme "Enhancing endogenous capacity, creating momentum for growth and sustainable development". The forum includes 2 thematic sessions and 1 plenary session. Specifically: Topic 1 : Strengthening internal strength, unlocking resources, supporting businesses to overcome difficulties Topic 2 : Improving labor productivity and ensuring social security in the new context. Plenary session with the theme : Strengthening endogenous capacity, creating momentum for growth and sustainable development. |
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