Productivity – decisive factor in boosting economic growth: GSO
Vietnam needs to adopt various solutions, particularly those to improve the quality of human resources to increase productivity, in order to achieve the 2024 growth target set by the National Assembly, said Nguyen Thi Huong, head of the General Statistics Office (GSO).
Productivity – decisive factor in boosting economic growth. (Photo: VNA)
Hanoi (VNA) – Vietnam needs to adopt various solutions, particularly those to improve the quality of human resourcesto increase productivity, in order to achieve the 2024 growth target set by theNational Assembly, said Nguyen Thi Huong, head of the General Statistics Office(GSO).
The legislature sets the goals that the national GDP would grow 6-6.5%in the year, and GDP per capita would stand at between 4,700 USD and 4,730 USD. Theprocessing and manufacturing industry is also projected to account for 24.1% -24.2% of the GDP.
To boost the domestic processing and manufacturingindustry, the workforce must satisfy requirements, Huong explained, elaboratingthat the rate of trained workers should stay at about 69%, of whom those withdegrees and certificates range between 28% and 28.5%.
The official viewed productivity as a decisive factorin improving the competitiveness of the national economy and each enterprise, sayingit plays a crucial role in boosting long-term economic growth.
It becomes even more important given the crunch of capital,land, and natural resources, and workforce affected by population aging, shecontinued.
According to the GSO, increasing productivity depends ondifferent factors like consumption demand, production capital, wage, bonuses,science-technology, innovation, institutions, policies, and productionstructure, along with the factors associated with natural conditions and personnelquality with the latter playing a key role.
Besides, scientific and technological advances requirelabourers to have higher qualifications in order to optimise production, Huong said, stressing the need toimprove training quality to meet requirements of businesses./.
Vietnam may record a GDP growth rate of 5.19% in 2023, lower than the 8.02% expansion last year but still higher than many other countries in the region and the world, the Central Institute for Economic Management (CIEM) predicted.
The Ministry of Planning and Investment (MPI)’s Central Institute for Economic Management (CIEM) presented three scenarios for the national economy in 2024 at the Vietnam Economic Pulse Forum jointly held by the institute and UN Development Programme (UNDP) in Hanoi on December 6.
The Asian Development Bank (ADB) has forecast that Vietnam will post Gross Domestic Product (GDP) growth of 6% in 2024. It has also lowered its growth forecast for Vietnam this year to 5.2% from the previous 5.8%.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Productivity – decisive factor in boosting economic growth. (Photo: VNA) 
