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Friday, June 21, 2024

Vietnam needs to bridge skills gap for more investment – experts

The Saigon Times

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HCMC – Collective efforts are required to fill the skills gap in human resources, thereby attracting more foreign investors in the future, according to RMIT experts.

Dr. Divya Juneja, RMIT’s Human Resource Management lecturer, attributed the skill disparity to Vietnamese education’s persistent difficulties in keeping up with the prevailing demands of the modern global economy.

Some 83% of organizations and firms have difficulty hiring at the professional level, 18% at the executive level, and 60% at the management level, according to a report on Vietnam’s recruiting landscape in 2023 done by Talentnet Corporation and Mercer.

Juneja said the growing demand for foreign languages is another challenge. Still, a small portion of the Vietnamese workforce is fluent in the English language.

Nguyen Hoang Phuong, head of AIMS International Vietnam, said, “As the country is attracting big numbers of visitors and businesses from other parts of East Asia, the market needs not only people who are fluent in English but those in other languages like Japanese, Chinese and Korean.”

In the first two months of the year, Japanese investments in Vietnam reached US$422.35 million, followed by China with US$420.86 million and South Korea with US$220.61 million, according to the Vietnam News Agency.

Experts said it is crucial to invest in workforce development, education and vocational training.

With suitable approaches in education, experts said that the private sector will have easy access to professionals and highly talented human resources.

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