Enhancing quality of growth through TFP - Enhancing quality of growth through TFP - Website Ho Chi Minh City
On January 20, Vice Chairman of HCMC People’s Committee Le Manh Ha chaired a meeting with HCMC Institute for Development Studies and HCMC General statistic Office on enhancement of quality of growth through Total Factor Productivity (TFP).
According to HCMC Institute for Development Studies, in the period of 2006-2012, growth rate of TFP showed an increase. In 2008 and 2009, growth rate of TFP displayed a slower level of improvement, 0,85% and 0,24% respectively. In the period of 2010-2012, this rate increased and reached average rate of 3,03%, the highest of previous periods. Fixed capital and labor showed a slower level of growth compared to previous periods.
TFP is an important factor and established based on scientific and technology development, management skill, workmanship. In order to add to growth of proportions of contributions to TFP growth, bringing economy of HCMC to more sustainable development, enhancement of labor productivity and technology innovation are key factors for improving proportion of contributions to TFP in economic growth.
Mr. Le Manh Ha requested HCMC general statistics office to provide detailed information on TFP under State economic components, industry, agriculture and services, 4 key economic sectors of HCMC and some services to HCMC Institute for Development Studies to complete the draft document of enhancing quality of growth by improving TFP and report to the 9th Party Congress of HCMC.