Vietnam urged to increase labor productivity for sustainable growth
(VOVWORLD) -Vietnam needs to increase its labor productivity and competitiveness in order to make an economic breakthrough, Professor Jay Rosengard, a public policy lecturer at the Harvard Kennedy School, has suggested.
Professor Jay Rosengard, Lecturer in Public Policy at Harvard Kennedy School (Photo: Phuong Thoa/VOV)
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Vietnam’s annual GDP growth per capita has surpassed 1,000 USD since 2008 to make Vietnam a lower-middle-income country, Professor Rosengard said, adding that this milestone opened the possibility of Vietnam soon becoming a high-income country. In an interview with Vietnamese media, Professor Rosengard noted Vietnam can achieve even higher GDP growth with its economic potential.
“I think there are 3 areas to make Vietnam probably better. The first is investment in hard infrastructure. The second is investment in soft infrastructure, and the third is investment in wet infrastructure. Hard infrastructure we’re talking about is the basic infrastructure a country needs to enable the private sector to grow," Rosengard elaborated.