Though industries have regained growth after a long difficult period, economists have pointed out that recovery is precarious when the growth depends on the investment scale, low labor costs and Vietnamese products that primarily compete using low prices. Industries make up nearly 40 percent of the GDP and their recovery in the last months of 2009 greatly helped ’s national economy obtain its growth rate of 5-5.2 percent.Vietnam High growth, but high inventories Processing industries contributed the most to the recovery in the second half of the year, including animal feed production, garment and footwear, household electric goods and construction materials. The growth rate of mining industries decreased mostly because of lower prices in the world market. This has not caused problems for the national economy, since raw material exports do not benefit the national economy in the long term. The recovery was mostly created in the private economic sector and foreign invested … [Read more...] about Sustainable growth big concern for 2010
Sustainable growth
Quang Ninh: The forum to enhance the tourism service quality towards the sustainable growth
(Cinet) – Recently, the Quang Ninh Department of Culture, Sports and Tourism held the ceremony to commemorate 51 years of establishing the Vietnam tourism industry (July 9,1960-July 9, 2011) and held the forum with the topic “enhancing the tourism service quality towards the sustainable growth”. Speaking at the ceremony, Mr. Ha Quang Long, the Director of the Quang Ninh Department of Culture, Sports and Tourism reviewed the development process of Quang Ninh province. In recent years, Quang Ninh tourism industry has had outstanding development steps, to become the key economy of the province. To forward to the goal of being a locality having the strong tourism economy, in the next time, the Quang Ninh tourism industry will continue to plan to sort out and build up and advertise the trademark to create diversified tourism products to have a scale and unique feature. At the forum, representatives presented some speeches concentrated on the issues: the real … [Read more...] about Quang Ninh: The forum to enhance the tourism service quality towards the sustainable growth
Moving Toward Sustainable Growth
Moving Toward Sustainable Growth By Ngoc Hung Vietnam’s coffee industry is gearing toward sustainable development to ensure better quality and value Despite the negative impact of the global economic slowdown, agriculture remained a bright spot in Vietnam’s export profile last year, bringing total revenue of US$15.4 billion. Among the top agro-product exports, coffee secured an outstanding place, generating more than US$1 billion. However, coffee production in Vietnam is still on a small scale and coffee prices are greatly affected by the world market prices. The product is exported in large quantity but its price is not so high compared with those of other coffee producing countries like Brazil. The main reason for the poor competitiveness is the small-scale coffee farming that leads to different cultivation methods. As a result, the coffee yield and quality is unstable. The director of a coffee enterprise says it is hard to fetch a high price for Vietnam coffee if the … [Read more...] about Moving Toward Sustainable Growth
Leveraging productivity is key for sustainable growth
2017 was a successful year for the Vietnamese economy. All 13 socioeconomic development targets set forth by the National Assembly have been reached or even exceeded. The economy has been growing well at an estimated 6.7 per cent.On the other hand, the quality of growth is becoming an issue as the country has been dependent on investment capital, low-cost labour and natural resources mining. That growth model is no longer appropriate in the current context, as the global and domestic situation has changed.Especially, Industry 4.0 has come and opened up many opportunities and challenges for the economy.“Against this background, the economy cannot develop quickly and sustainably to improve living standards and narrow the development gap with other countries. Leveraging productivity is the key of sustainable growth, this is one of the core issues for the Vietnamese economy today," confirmed Nguyen Chi Dung, Minister of Planning and Investment, at VDF 2017.Acknowledging the … [Read more...] about Leveraging productivity is key for sustainable growth
Productivity increase considered leverage for sustainable growth
Amidst the numerous challenges of being a middle-income country since 2010 and the 4th industrial revolution, Vietnam considers increasing productivity a key to sustainable growth. Increasing productivity, a core issue in Vietnam’s economyProductivity is the main index of the labor market, reflecting sustainable economic growth, competitiveness and labor use efficiency in each country. Vietnam’s productivity has increased 5.3% since 2015. The figure is expected to rise sharply this year. But this growth lags behind other countries in the region. Simon Matthews, Director of the ManPower Group in Vietnam, Thailand, and the Middle East, told VOV: “You have a very large workforce. I think that’s a big positive sign. I think hard working, ethical dedicated are very great attributes the Vietnamese people in the workforce have. I think they need to channel that into skill development, it’s not just in Vietnam but in other Asian countries and around the … [Read more...] about Productivity increase considered leverage for sustainable growth