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Seminar on Vietnam economic growth quality
Vietnam’s labour productivity saw an annual increase of 5.13 percent in the 2001-2010 period, but it still remains low with US$5,676 per capita.
The information was given at a seminar on Vietnam’s economic growth quality in the 2001-2010 period and with orientation to 2020, which was jointly held in Hanoi on February 24 by the National Assembly’s Economic Committee, the National Economics University and the Japan Graduate Institute for National Policy Studies (GRIPS).
Over the past 10 years, Vietnam was one of the fastest-growing economies in the region and the world, despite the global crisis and the nation’s low starting point.
However, the quality of Vietnam’s economic growth remained low, as demonstrated by inefficient use of the human resources and low national competitiveness, as well as the increasing inequality, and inefficient use of energy.
Specialists said that it is necessary for Vietnam to change its growth model to overcome the challenges of current globalisation.
Vietnam needs to restructure its division of labour, production, human resources and all sorts of markets, in addition to raising the standards and efficiency of the state administrative apparatus, they said.
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