Economic Sector

Last updated: Thursday, April 18, 2019


Focus on Developing Human Resources, Science and Technology

Posted: Monday, April 10, 2017

In the past 60 years, the South Korean economy has witnessed miraculous growth, with per capita income rising US$50 a year to US$30,000 now. To learn about the economic development experience of one of Asian dragons, the Development Strategy Institute under the Ministry of Planning and Investment collaborated with the Oh-rae Forum of South Korea to open the "National Reform and Sustainable Development in Southeast Asia" Forum.
Addressing the event, Deputy Minister of Planning and Investment Dang Huy Dong said that the relationship between Vietnam and South Korea has never been as good as now. 2017 will mark the 25th anniversary of establishing Vietnam - South Korea friendship (December 22, 1992 - 2017). Currently, South Korea is the largest foreign investor in Vietnam with a total investment of more than US$50 billion and about 5,600 valid projects.

He added that the world is currently experiencing unpredictable changes and this places various choices, challenges and opportunities for every country. This objective factor forces every nation to seek for radical reforms, where human resources and science - technology must be considered two key areas. Given favourable conditions and difficulties, Vietnamese authorities must answer the question of how to make the most of advantages of the golden age era which is passing away, enhance labour productivity, apply science and technology in the 4th Industrial Revolution and learn experience from advanced nations.

Mr Kim Byong Joon, Head of the Oh-rae Institute for Policy Research, said, science and technology, research and development capacity and labour productivity are key determinants for building national capacity and overcoming barriers in the context of constant conflict of national interests and individual and collective interests to accelerate economic growth in a sustainable manner. Underlying factors in Vietnam's economic growth momentum are geographic conditions: Adjoining the waters and land borders of Southeast Asian nations and China; opening government policies, rich natural resources and abundant human resources.

Dr Nguyen Thi Tue Anh, Vice President of the Central Institute for Economic Management (CIEM), said, the Government of Vietnam is urgently transforming its macroeconomic model to enhance economic productivity and competitiveness. Therefore, it can be said that good or bad labour productivity is vital to the Vietnamese economy as well as its objective of quickly accessing new science and technology and making the most of opportunities opened up by international economic integration. Therefore, she suggested that the Government have policies to develop human resources for prioritised industries with ripple effects on technology and productivity. In addition, it is necessary to widely encourage support and start-up combined with training and quality improvement and external cooperation in start-up and training.
Anh Phuong

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