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/ October 24, 2020

Vietnam’s capitalisation index climbs nine places in GII 2020 report

Accordingly, Vietnam continued to hold 42nd position out of 131 economies in the annual report (ranked 42 out of 129 economies in 2019). Thanks to the ranking, Vietnam is first amongst a group of 29 lower-middle income economies, third in Southeast Asia, behind Singapore and Malaysia, and ninth in Asia Pacific. According to the assessment, Vietnam was hailed in its market and business sophistication, of which its ranking in the index on market capitalisation of listed companies (% of GDP) was up nine places in 2019, climbing nine places in 2020 and exceeding the target set by the Government in Resolution 02/2019/NQ-CP dated January 1, 2019 on the continuation of the main tasks and solutions to improve the business environment and enhance national competitiveness in 2019 towards 2021. Specifically, in the resolution, the Government has set the target of raising the ranking of the stock market capitalisation index by 10-15 steps, climbing at least five steps in 2019 alone. According to the WIPO's rankings since 2017, the index of the capitalisation of listed domestic companies (as a % of GDP) has continuously increased, particularly in 2019 and 2020, moving up 18 places in total. Regarding the latest rankings, the State Securities Commission said that the result affirms the efforts of the securities sector in managing the stock market, combined with the synchronous coordination between the sector with other relevant ministries and agencies in improving the investment environment, attracting foreign investment capital, promoting administrative reform and perfecting institutions and specialised legal systems. Vietnam's GII in 2020 has been praised by the WIPO in achieving a number of notable positive results, including improving the level of business development, general infrastructural improvement and that of innovation output. The GII rankings in 2020 list the competitiveness of 131 economies based on 80 sub-criteria as compiled by the WIPO, Cornell …

/ February 8, 2021

Vietnam to raise rate of trained workers to 40 percent by 2030

Workers at a garment factory (Photo: VNA) Hanoi (VNA) - Vietnam targets raising the proportion of trained workers to 35-40 percent by 2030 under a support programme for labour market development newly issued by Prime Minister Nguyen Xuan Phuc.Global Innovation Index (GII) by 2025 and among the top 55 by 2030. The country also sets having 80 percent of its workforce possess IT skills by 2025 and 90 percent by 2030, while reducing the rate of young adults unemployed or untrained to below 8 percent.labour market compared with the regional and global markets, and evaluate the labour gap between regions./. VNA …

/ February 9, 2021

Vietnam to raise rate of trained workers to 40% by 2030

Vietnam targets raising the proportion of trained workers to 35-40 % by 2030 under a support programme for labour market development newly issued by Prime Minister Nguyen Xuan Phuc. Workers at a garment factory (Photo: VNA) Overall, the programme aims to provide a strong premise for comprehensively developing the labour market; effectively mobilising, distributing, and utilising resources to boost socio-economic growth; shift to a modernised labour structure; and promote links between the domestic labour market and those of the region and the world. Its objectives are to increase the number of workers with labour market-relevant skills and raise the number of trained workers to 30 % by 2025 and 30-45 % by 2030. Under the programme, Vietnam expects to be among the top 60 countries in the Knowledge Workers sub-pillar of the Global Innovation Index (GII) by 2025 and among the top 55 by 2030. The country also sets having 80 % of its workforce possess IT skills by 2025 and 90 % by 2030, while reducing the rate of young adults unemployed or untrained to below 8 %. To this end, the country plans to improve the relevant legal framework to bolster the development of the labour market; support the development of labour supply and demand, a labour market database, social welfare and insurance, and a specialised labour market; and promote links between the domestic and foreign labour markets. It will also develop a set of indicators measuring the development of the labour market compared with the regional and global markets, and evaluate the labour gap between regions. …