Jonathan Pincus, UNDP Senior International Economist, said Vietnam should give fresh impetus to national innovation and invest big in research and development (R&D) activities with a view to improving labor productivity in long term. He added that Vietnam’s spending on R&D activities, a measure to evaluate the ability to better labor productivity, has lagged behind that in China, Thailand and Malaysia. Besides, rational mechanisms should be put in place to lure leading Vietnamese scientists to domestic institutes and universities, he said, highlighting they will make practical contributions to the national development. Low worker productivity has hampered economic recovery post pandemic, other experts said, pointing a shortage of employees with substantial experience and skills, and a large number of micro and small businesses as major reasons. While government policies to renew the growth model and enhance innovation in science and technology have created favorable … [Read more...] about Businesses’ intrinsic strength – key to socio-economic development