Overall unemployment rate in Vietnam to drop below 3% by 2030

Overall unemployment rate in Vietnam to drop below 3% by 2030
Đức Thảo

Below is the remarkable content specified in Decision 176/QD-TTg promulgating the Program for Assistance in Development of the Labor Market by 2030, issued by the Prime Minister of Vietnam on February 5, 2021.

According to Vietnam's Decision 176/QD-TTg, the Prime Minister of Vietnam identified specific objectives of the Program for Assistance in Development of the Labor Market by 2030, including:

  •  Increase the quantity of skilled workers to satisfy the labor demand:
  • The ratio of trained and qualified workers is expected to reach 30% by 2025 and 35-40% by 2030;
  • Vietnam’s ranking of “Knowledge Worker” in Global Innovation Index (GII) is expected to in the top 60 by 2025 and top 55 by 2030;

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    The ratio of workers with information technology skills is expected to reach 80% by 2025 and 90% by 2030.

  • Creation of better jobs for workers:
  • The overall unemployment rate is expected to drop below 3%; unemployment rate in urban areas is expected to drop below 4%;
  • The ratio of workers in agriculture is expected to drop below 30% by 2025 and below 20% by 2030;

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    Productivity growth rate is expected to reach at least 6,5%/year.

  • Reduction in ratio of unemployed, uneducated or untrained youth;
  • Assurance of safe working environments for workers;

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    ...

More details can be found in Vietnam's Decision 176/QD-TTg, effective from February 5, 2021.

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