Improving labor productivity, expected to grow 8% by 2025

Strive to achieve at least 8% growth

According to the Government's report, in 2024, it is expected that 15/15 socio-economic development targets will mainly be achieved and exceeded, especially the growth target. Vietnam continues to be a bright spot in terms of growth and is among the countries with high growth rates in the region and the world, highly appreciated for controlling inflation and maintaining macroeconomic stability in the context of strong fluctuations and many difficulties in the world.

In the context of many difficulties, with the efforts of the entire political system, our country achieved economic growth in each quarter higher than the previous quarter.

Vietnam continues to be a safe and attractive destination for international businesses, partners and investors. Strategic breakthroughs are focused on and implemented resolutely and have achieved many clear results. Cultural and social development is focused on; social security is ensured; people's lives continue to improve. Administrative reform and anti-corruption work continue to be promoted.

In the article "Innovation, creativity, acceleration, breakthrough, bringing the country firmly into the era of national development, prosperity, civilization and prosperity", Prime Minister Pham Minh Chinh emphasized that 2025 has a particularly important meaning, a year of acceleration and breakthrough to reach the finish line to successfully implement the 5-year Socio-Economic Development Plan (SEDP) 2021-2025, a year of many important events of the country.

Prime Minister Pham Minh Chinh emphasized that from 2025, we must make maximum efforts, create breakthrough factors to attract investment, strongly promote production and business, strive to achieve a growth rate of at least 8% or higher in favorable conditions; on that basis, create a solid foundation to achieve double-digit growth rate from 2026.

Expectation of breakthrough

With the statistical calculation of GDP growth in 2024 at over 7%, National Assembly delegate Pham Van Hoa (Dong Thap delegation) said that, from the results achieved in recent years as well as the determination and consensus of the entire political system, we have every right to expect a higher growth rate than in previous years.

In the context of intertwined opportunities, advantages, difficulties and challenges, delegate Pham Van Hoa proposed that the Government continue to implement scenarios to proactively and promptly respond to economic growth levels, effectively implement solutions, and focus on traditional growth drivers, namely investment, export and consumption. Implementing these drivers well will create positive growth opportunities. Along with that, it is necessary to promote the implementation of new growth drivers.

Emphasizing that the target on the growth rate of social labor productivity after 3 years of not achieving, by 2024 it has reached and exceeded the set plan, National Assembly Delegate Nguyen Thi Viet Nga - Deputy Head of the National Assembly Delegation of Hai Duong province - said that labor productivity is an issue that needs special attention. Because improving labor productivity is an effective measure to achieve rapid, sustainable growth and is the path to bring the country to prosperity.

“If a country wants to prosper, it must increase labor productivity, and the key factor to increase labor productivity is a workforce with high and suitable vocational skills. Therefore, in my opinion, the Government needs to continue to pay more attention to developing vocational skills for workers according to the scale, quantity, and reasonable structure of qualifications and vocational skills, to ensure that this indicator has a fast and sustainable growth rate in the coming period,” emphasized delegate Nguyen Thi Viet Nga.