Pushing knowledge economy in VN
11:51 | 27/08/2012

VGP – Viet Nam is pushing the transformation to an industrial economy from an agriculture-based one but its rank in the global knowledge economy is quite low.

The country’s knowledge economy index (KEI), which was prepared by the World Bank, is 3.51 whereas that of Singapore, Malaysia and Thailand is 8.44; 6.07; and 5.52, respectively.

Its labor structure has yet changed considerably with 41% of the labor force working in industrial sector, 20.6% in agriculture and 38.3% in service sector in 2010. Meanwhile some 80% of the US workforce works in service R&D areas.

 The rate of high-tech products also remains low. By 2020, Viet Nam expects to increase the rate to around 45% of the gross domestic product (GDP), according to the documents passed by the 11th National Party Congress in 2011.

Investment (0.3% of GDP) for science and technology development is relatively low in comparison with neighboring countries, with 1% in Malaysia and 3% in Singapore.

Robert Walter - a global leader in specialist professional recruitment said despite economic hardship in 2012, Viet Nam is still thirsty for qualified labor. Currently, the rate of trained labor in Viet Nam just reached 35%.

One of the most important criteria of knowledge economy is the application of technology in management and business. The majority of our enterprises lack technological information.

According to a recent survey, only 16 out of 82 Vietnamese enterprises have the ideas of renovating technologies, signaling the fact that the components of knowledge economy are now under formation in Viet Nam.

In order to facilitate knowledge economy, Viet Nam should follow certain solutions. Firstly, the country needs to increase investments in science and technology and develop policies to encourage the development of science and technology.

Secondly, the capacity of scientific research and workforce training must be enhanced as they are the backgrounds for economic growth and for the formulation of knowledge economy.

Thirdly, it is necessary to create a healthy legal environment to spur creativity and renovation while adequate attention should be paid to intellectual property protection and technological transfer.

Fourthly, the process of economic restructuring and growth model transformation should be accelerated.

By Hai Minh

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