Latest News about productivity
In a recent report titled “Vibrant Vietnam: Forging the Foundation of a High-Income Economy”, the World Bank has suggested that a productivity-driven development model,
An ongoing issue in the digitalization of the agriculture sector is that IT workers know little about farming and farmers know little about IT.
The need for laborers is expected to become more serious when the EU-Vietnam FTA (EVFTA) takes effect.
Economists have voiced their disappointment about the draft of the amended labor code, saying that the competitiveness of the national economy will weaken because of rigid regulations on extra working hours and wages.
Vietnam is considered an attractive destination for investors thanks to the cheap labor force. In 2019, the minimum zonal wages of Vietnamese workers ranged between VND2.92 million and 4.18 million.
The state-owned economic sector ranks first in terms of productivity, followed by foreign invested companies. The productivity of the private sector is the lowest.
The highest added value lies in R&D, and if Vietnam continues to rely on outsourcing, its productivity will not improve significantly.