Growth based on resources and labor is shrinking, so innovation-led productivity development is recommended by experts for economies.
Speaking at the International Conference on Productivity, namely “Innovation – Engine of productivitity growth” held by the Directorate for Standards, Metrology and Quality (Ministry of Science and Technology) on the afternoon of October 22rd, Deputy Minister Le Xuan Dinh said that in Vietnam, In Viet Nam, the Government has issued many policies to promote investment in science and technology development and innovation. As the result, the capacity for science, technology, innovation has been much improved.
Deputy Minister Le Xuan Dinh (left cover) speaks at the conference. Photo: VH
“The transformation to digital economy in the context of globalization has resulted in new approaches based on innovation and technological changes. Growth models based on capital, resources, and labor while the natural resources are being depleted is no longer appropriate. Therefore, many countries around the world have changed to a growth model based on innovation-led productivity development and the fact shows that this is the driver for sustainable economic growth”, Deputy Minister of Science and Technology Le Xuan Dinh also emphasized.
Experts from the Asian Productivity Organization (APO) shared many solutions to increase productivity, including smart leapfrogging through innovation, management model reform. It is necessary to focus on expanding the capacity of applying new practices and technologies. Countries and economies also need to create a legal environment to promote innovation.
At the beginning of 2020, the Government has issued many strategies to boost productivity in Vietnam. In which, in Government’s Resolution 01 and Government’s Directive 07 assigned the Ministry of Science and Technology to coordinate with APO to develop and implement the general plan to boost national productivity based on Science, technology, and innovation; building the project of Center of Excellence (COE) in innovation to submit to APO ‘s approval in 2021.
Vietnamese version: https://vnexpress.net/doi-moi-sang-tao-de-tang-nang-suat-4181055.html