Vietnam’s labour productivity needs to catch up with ASEAN
Vietnam’s labour productivity has improved but is still low in comparison with other ASEAN members, according to a report by the Ministry of Planning and Investment. The report shows that Vietnam’s labour productivity index reached 102.2 million VND (4,400 USD) per labourer in 2018, nearly double that of 2011.
However, in comparison with other countries in ASEAN, Vietnam’s labour productivity is still low. This means that Vietnam’s economy is facing a huge challenge to catch up with other countries. If measured by purchasing power parity (PPP) value in 2018, Vietnam’s labour productivity reached 11,142 USD, only 7.3 percent of Singapore, 19 percent of Malaysia, 37 percent of Thailand, 44.8 percent of Indonesia, and 55.9 percent of the Philippines.
