Capital, labor and technology are important contributors to economic growth. In particular, labor productivity and high technology level are the factors of growth quality. This study quantifies the factors contributing to economic growth and considers their role during the period 1987-2015 in Vietnam. The research results show that the economic reform policy in Vietnam has brought good results for economic growth, reflected in the contribution of total factor productivity (TFP) to Vietnam’s economic growth, such as increasing improvement of economy and increase of labor productivity, however, compared to other countries with the same conditions of development, the economic growth situation in Vietnam still depends on capital and labor, besides, the contribution of TFP in Vietnam is affected by macroeconomic stability. On that basis, the study said that to enhance TFP’s contribution to Vietnam’s economic growth, it is necessary to ensure macroeconomic stability, improve the quality of human resources, implement selective foreign investment attraction, promote privatization, improve social infrastructure and accelerate institutional reform.

capital, labor, total factor productivity, TFP, economic growth, Vietnam.