Invest in technology 4.0 to improve labor productivity

According to Representative Nguyen Van Thang (Hanoi delegation), the key of improving labor productivity is that businesses have to invest in 4.0 technology to apply to production.

Session 5, the 14th National Assembly turned to the second working day, in the morning 22/5, delegates discussed in the team about the socio-economic situation in the first months of 2018.

At the discussion at the group, Delegate Nguyen Van Thang (Hanoi delegation) said that the first quarter of 2018 economic growth was the highest, the highest in the past 10 years is completely similar to some international organizations. like WB and IMF, the important thing is that economic areas all saw improvements, such as agriculture, agriculture, forestry, and sea products, with a growth index of double over the same period.

“Such a growth figure is very exciting, although there is an opinion that it is necessary to review the data, but the movement of the data if any is not significant,” Mr. Thang said.

According to Mr. Thang, this growth result shows that the Government’s direction is correct, when the consumer price index only increased by 2.8% (the same period last year 4.8%); baseline inflation decreased, the Government took the initiative in adjusting the prices of some commodities to approach market prices, etc.

“With the results of growth in the first quarter of 2018 and the direction and administration of the Government, we have confidence to control inflation as a set target,” Mr. Thang said.

Delegate added, from the beginning of the year until now, the situation of interest rates and exchange rates have been stable, banks have been proactively lowering lending rates under the management of the State Bank.

“With the drastic management of the State Bank in the direction of credit, the banking system has focused the funding for priority areas. Especially for businesses serving production and business, lending projects to create sustainable development for the economy”.

Referring to the labor productivity story, Mr. Thang said: “Labor productivity directly affects the competitiveness of goods and businesses, however, the key is to apply technology to production.” .

“Although Vietnam’s labor productivity has improved significantly over the years, it is still low compared to other countries in the region.”

Evidence of the role of technology 4.0 in manufacturing, Mr. Thang stated, for example, the textile industry was previously labor-intensive, but it has been automating in many stages, with very few areas of labor.

The economy must improve its adaptive capacity. When the world declared Industry 4.0, the market already had technological products for manufacturing industries, businesses had to invest in technology to improve labor productivity.

“The Government must continue to support industries and businesses to invest and apply technologies to production and business,” Mr. Thang suggested.

Productivity and Quality Office