Speaking at a recent thematic discussion on the new era of national advancement at the Ho Chi Minh National Academy of Politics, Party General Secretary To Lam emphasized that this era fosters decisive and dynamic efforts by the nation to overcome challenges, transcend limitations, fulfill aspirations, and drive comprehensive economic development. As Vietnam embarks on a new chapter of growth, driven by its unwavering resolve to overcome obstacles and achieve lasting economic prosperity, the road ahead demands relentless efforts and a deep sense of purpose. Central to this transformation is the need to help businesses tackle productivity challenges in a systematic and impactful manner. Addressing these challenges is critical to improving national labor productivity, allowing Vietnam to escape the middle-income trap and unlock its full economic potential. Productivity and economic growth challenges Professor Andreas Hauskrecht from Indiana University, who first visited Vietnam in 1991 when the country’s GDP per capita was a modest US$140, recently returned to attend the Vietnam-U.S. Cooperation Forum in Hanoi. He was amazed to see that Vietnam’s GDP per capita has risen to US$4,300, calling it a testament to the country’s “miraculous growth.” However, the professor raised concerns about Vietnam’s ability to sustain this success. Demographic […]
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