Vietnamese enterprises have low productivity: report
The productivity and competitiveness of Vietnamese enterprises remain low, according to a report on the manufacturing and processing industries which was publicized on April 26 by the Vietnam Academy of Social Sciences, the Ministry of Planning and Investment and the UNDP.
A worker at Samsung hi-tech complex in Thai Nguyen province. Illustrative image (Photo: VNA)
Hanoi, (VNA) – The productivityand competitiveness of Vietnamese enterprises remain low, according to a reporton the manufacturing and processing industries which was publicized on April 26by the Vietnam Academy of Social Sciences (VASS), the Ministry of Planning andInvestment (MPI) and the UN Development Programme (UNDP).
At the report launchingworkshop, Vice President of VASS Prof. Dr. Dang Nguyen Anh said with a percapita income slated to reach 3,000 USD in 2020, Vietnam has entered a periodof growth based on efficiency and productivity, according to the World EconomicForum’s methodology.
Anh noted that previous growthdrivers of Vietnam such as natural resources and low-cost labour haveapproached their limits, which means Vietnam must change its growth modeltowards relying more on productivity, innovation and competitiveness of itsenterprises.
The scholar also stressed thatVietnam should shift the focus of its FDI attraction policy from quantity toquality while enhancing the linkage between domestic and FDI enterprises andmoving to the higher level in both local and global value chains.
UNDP Country Director in VietnamCaitlin Wiesen said improving productivity of manufacturing and processingenterprises along with innovation is key for Vietnam to avoid the middle-incometrap and achieve inclusive growth.
Deputy Minister of the MPI VuDai Thang said the report, which makes comprehensive analysis of the processingand manufacturing industries, the productivity and competitiveness of eachsub-industry, will be one of the important sources of input materials for thebuilding of the socio-economic development strategy for 2021-2030 and thesocio-economic development plan for 2021-2025.
The report recommended thatVietnam should give priority to enhancing the productivity and competitivenessof domestic private enterprises in the next development period, which it saidis an indispensable part of reforms in public investment, State-ownedenterprises and policies on foreign investment attraction and use.-VNA
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A worker at Samsung hi-tech complex in Thai Nguyen province. Illustrative image (Photo: VNA) 
