Vietnamese guest workers who receive training in countries with advanced production standards can significantly enhance the skill set of the local labor force. In 2022, close to 143,000 Vietnamese workers were dispatched to approximately 40 countries, and this number is projected to continue its upward trajectory. According to data from the Ministry of Labor, Invalids, and Social Affairs, Vietnamese workers abroad send home over US$3 billion annually. Vietnam’s abundant and affordable labor force, coupled with its youthful population, has positioned it as an attractive destination for foreign direct investment (FDI). Vietnam has emerged as a prominent labor supplier for economies facing a shortage of young workers, primarily for physically demanding jobs. However, the pressing challenge is to cultivate a pool of high-quality human resources capable of meeting the increasingly stringent requirements of FDI firms and local enterprises. Addressing the shortage of technically skilled workers is crucial to help the nation navigate the middle-income trap. In pursuit of this goal, the focus should be on developing human resources with experience in countries with advanced production methods, rather than merely increasing remittances or securing higher-paying employment opportunities. The concept of leveraging returning trainees who have worked overseas to enhance the quality of […]
Vietnamese guest workers who receive training in countries with advanced production standards can significantly enhance the skill set of the local labor force. In 2022, close to 143,000 Vietnamese workers were dispatched to approximately 40 countries, and this number is projected to continue its upward trajectory. According to data from the Ministry of Labor, Invalids, and Social Affairs, Vietnamese workers abroad send home over US$3 billion annually. Vietnam’s abundant and affordable labor force, coupled with its youthful population, has positioned it as an attractive destination for foreign direct investment (FDI). Vietnam has emerged as a prominent labor supplier for economies facing a shortage of young workers, primarily for physically demanding jobs. However, the pressing challenge is to cultivate a pool of high-quality human resources capable of meeting the increasingly stringent requirements of FDI firms and local enterprises. Addressing the shortage of technically skilled workers is crucial to help the nation navigate the middle-income trap. In pursuit of this goal, the focus should be on developing human resources with experience in countries with advanced production methods, rather than merely increasing remittances or securing higher-paying employment opportunities. The concept of leveraging returning trainees who have worked overseas to enhance the quality of […]
Vietnamese guest workers who receive training in countries with advanced production standards can significantly enhance the skill set of the local labor force. In 2022, close to 143,000 Vietnamese workers were dispatched to approximately 40 countries, and this number is projected to continue its upward trajectory. According to data from the Ministry of Labor, Invalids, and Social Affairs, Vietnamese workers abroad send home over US$3 billion annually. Vietnam’s abundant and affordable labor force, coupled with its youthful population, has positioned it as an attractive destination for foreign direct investment (FDI). Vietnam has emerged as a prominent labor supplier for economies facing a shortage of young workers, primarily for physically demanding jobs. However, the pressing challenge is to cultivate a pool of high-quality human resources capable of meeting the increasingly stringent requirements of FDI firms and local enterprises. Addressing the shortage of technically skilled workers is crucial to help the nation navigate the middle-income trap. In pursuit of this goal, the focus should be on developing human resources with experience in countries with advanced production methods, rather than merely increasing remittances or securing higher-paying employment opportunities. The concept of leveraging returning trainees who have worked overseas to enhance the quality of […]
U.S. President Joe Biden’s recent state visit to Vietnam has sparked hopes for a significant upswing in investment activity, particularly in the semiconductor industry.
Biden’s...
The economic initiatives of this historic partnership agreement are good news for Vietnam’s socio-economic development in the long run.
During U.S. President Joe Biden’s visit...
As economic cooperation between Vietnam and Australia continues to flourish, both nations are eager to seize further opportunities for joint ventures.
Sarah Hooper, Australian Consul...
The foreign direct investment (FDI) sector holds the lion’s share in Vietnam’s mechanical engineering exports, leaving a meager portion for local enterprises.
HCMC - The foreign direct investment (FDI) sector holds the lion's share in Vietnam's mechanical engineering exports, leaving a meager portion for local enterprises.
Nguyen...
HCMC - International investors had pledged around US$18.15 billion in new capital to Vietnam in the year to August 20, up 8.2% year-on-year, according...
HCMC – Developing industrial zones is essential to achieving the goals set forth in the foreign direct investment (FDI) attraction strategy for the period...