Vietnam strives for an average labor productivity growth rate of over 6.5%/year.

Accordingly, Deputy Prime Minister Tran Hong Ha signed Decision 1305/QD-TTg dated November 8, 2023 approving the National Program on labor productivity increase to 2030 with the specific goal of the Program being an average labor productivity growth rate of over 6.5%/year.

Of which: The growth rate of labor productivity in the processing and manufacturing industry reaches 6.5 - 7.0%/year; the average growth rate of labor productivity in the agriculture, forestry and fishery sector reaches 7.0 - 7.5%/year; the average growth rate of labor productivity in the service sector reaches 7.0 - 7.5%/year.

Vietnam's average labor productivity growth rate over 65 years, figure 1 — Vietnam strives for an average labor productivity growth rate of over 6.5% per year. Illustrative photo

Along with that, the labor productivity growth rate of key economic regions and 05 centrally-run cities is higher than the average labor productivity growth rate of the whole country in the period 2023 - 2030.

Vietnam also strives to be among the top 3 ASEAN countries in terms of labor productivity growth by 2030.

The main task and solution of the Program is to strongly promote initiatives to increase labor productivity. Specifically, select a number of fields and localities to pilot the Program to promote labor productivity, then expand it to the entire economy.

Research and propose the establishment of a National Productivity Committee based on international experience and ensuring suitability to Vietnam's practical conditions.

Conduct policy dialogue activities and share experiences on increasing labor productivity. Regularly exchange and dialogue with the business community, investors and workers on requirements and barriers to improving labor productivity and recommend appropriate solutions.

Along with that, build a communication program, disseminate knowledge about productivity, productivity improvement, typical experiences of productivity improvement at national, local, business and community levels.

During the 2011-2020 period, Vietnam's labor productivity increased by an average of 8.9 million VND/worker per year, from 70 million VND/worker in 2011 to 150.1 million VND/worker in 2020; Labor productivity in 2020 was 2.1 times higher than in 2011.
In 2021, Vietnam's labor productivity increased to 172.8 million VND/worker.
In 2022, labor productivity will reach 188 million VND/worker, equivalent to about 8 thousand USD/worker. The growth rate compared to the same period last year is 4.81%.
On average, in 2021-2022, labor productivity increased by 4.65% per year, much lower than the target of the socio-economic plan for the 2021-2025 period and the 10-year socio-economic development strategy for 2021-2030, which sets an average annual labor productivity growth rate of over 6.5%.

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