PM Attends National Labor Productivity Improvement Meeting

PM Nguyen Xuan Phuc will launch the “national labor productivity” campaign in the whole economy while attending the national labor productivity improvement meeting on August 7 in Ha Noi.

At the event, delegates will focus on evaluating the labor productivity situations in Viet Nam, identify factors affecting the labor productivity and propose measures to improve the national labor productivity, especially in the context of the Industry 4.0.

According to the statistics of the General Statistics Office, the labor productivity of the whole economy in 2018 was estimated at VND102.2 million per labor (equal to US$4,521 per labor).

The labor productivity of Singapore, Malaysia, Thailand and Indonesia witnessed increases of 17.6 times, 6.3 times, 2.9 times and 2.4 times, respectively in comparison with Viet Nam in 2011. In 2018, the figures saw respective decreases by 13.7 times, 5.3 times, 2.7 times and 2.2 times.

Mining sector reports the highest labor productivity while the agriculture-forestry-aquatic sector announces the lowest labor productivity among economic sectors.

The agriculture-forestry-aquatic sector recorded the average labor productivity of 5.2% per year in the 2011-2018 period. In 2018, the sector’s labor productivity reached VND39.8 million per labor, equal to 38.9% of the whole economy.

The labor productivity in the business sector is threefold the nation’s labor productivity.

Main factors affecting the labor productivity in Viet Nam are small economic scale, slow process of transforming labor structure, backward machines, equipment and technology, limited human resources and ineffective management and exploitation of resources. 

VGP