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Mongolia's Labor Productivity is 3.6 Times Lower Than the Global Average www.gogo.mn
The Ministry of Labor and Social Protection, the Asian Productivity Organization, and the Mongolian Productivity Organization jointly organized the Productivity Revolution conference today, December 17, 2024, with the goal of defining a national productivity strategy and accelerating the productivity movement at a national level.
As of today, Mongolia's average labor productivity is 3.6 times lower than the global average and 5.4 times lower compared to South Korea.
Labor productivity and wages are directly correlated. In Mongolia, the mining and information technology sectors demonstrate the highest productivity and provide the highest wages.
Therefore, the government plans to launch a productivity revolution by formulating and implementing policies, regulations, and measures aimed at increasing productivity across all levels of the public and private sectors.
Efforts will focus on supporting intellectual labor, increasing remote and digital work opportunities, and progressively improving Mongolian workers' labor productivity and wages on an annual basis.
Additionally, steps will be taken to ensure occupational safety at all levels, establish decent workplaces, and build a productivity ecosystem.
Translated by ChatGPT
Published Date:2024-12-18
