ASIAN PRODUCTIVITY ORGANIZATION BOOSTS, SUSTAINS VIETNAM PRODUCTIVITY STRATEGY

APO Secretary-General Dr. Indra Pradana Singawinata (L) with Prime Minister Pham Minh Chinh. (Photo: Business Wire)

KUALA LUMPUR, May 2 (Bernama) -- In an exchange of ideas with Asian Productivity Organization (APO), the Government of Vietnam reaffirmed its reliance on a renewed productivity agenda and strategies to expand and sustain the bases of its economic growth trajectory.

Vietnam Prime Minister, Pham Minh Chinh underlined the urgency of boosting labour productivity performance in materialising Vietnam’s aspiration to become a high-income country by 2045 during a discussion with APO Secretary-General Dr Indra Pradana Singawinata in Hanoi on April 26.

In a response to the request by Pham for advice on possible solutions to existing challenges, Dr Singawinata stated that socioeconomic stability, human capital quality and work attitude are among the fundamentals that can be capitalised on by Vietnam in aiming for greater prosperity.

In a statement, he emphasised the need to look into the institutional arrangement of the productivity movement as it is a key ingredient of a highly productive economy.

“Institutional fine-tuning together with prioritising the productivity agenda and continuous strengthening of the capacity of key productivity-promoting institutions could help translate the strategy into tangible results,” he said.

Meanwhile, Pham outlined four overarching areas to put the country’s labour productivity growth back on its intended performance track, and highlighted key strategies such as deepened collaboration and expanded assistance from the APO.

Enhancing institutional quality, upgrading human capital development, advancing governance capacity, and refining resources management will serve as the basis of Vietnam’s productivity strategy and movement carried out in tandem with endeavours to increase innovation capability.

Several national pilot projects will be launched in selected industries that are significant in improving labour productivity in collaboration with the private sector and other stakeholders.

The meeting concluded with a strengthened commitment to extended assistance of the APO to Vietnam in boosting and sustaining the country’s productivity, while Dr Singawinata presented a report on a recently completed APO project addressing the redesigning of the institutional setting of the productivity movement in Vietnam.

-- BERNAMA