National annual figure for labour productivity set to rise by over 7.5%

Wed, 13 Jan 2021 13:46:00  |  Print  |  Email   Share:

Prime Minister Nguyen Xuan Phuc has recently issued a master plan aimed at improving productivity based on utilising science, technology, and innovation for the 2021 to 2030 period, under which the annual target for average labour productivity is expected to surge by over 7.5 % by 2030.

The plan is to be implemented in order to make productivity into an important driving force for development across all sectors, largely through the application of new renewal achievements in science, technology, management systems, and tools that help to improve productivity. This is in addition to combining with research, training, and retraining of human resources, in line with Industry 4.0 trends.

This scheme underlines the need to fulfill national science and technology tasks, whilst providing support to local firms in research, innovation, technology transfer, and application in an effort to enhance productivity and total-factor productivity (TFP) based on science, technology, and innovation.

Moving forward, the nation is making every effort to achieve the goal of science and technology contribution through TFP, with this expected to contribute approximately 50% to economic growth.

In line with the plan, between 30 and 35 centrally-run provinces and cities will complete their own plans in order to improve productivity based on science, technology, and innovation, while five to seven groups and corporations will deploy the implementation of productivity plans.

Furthermore, at least 500 small and medium-sized enterprises of centrally-run cities and provinces will launch pilot projects focusing on productivity improvement, whilst continuing to promote research, the application of science and technology, and innovations to boost productivity.




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