Vietnam trains skilled workforce to attract foreign investment
Vinh Phong -
(VOVWORLD) - The Ministry of Planning and Investment reported that Vietnam’s foreign direct investment commitments totaled nearly 20 billion USD as of August 20, 86.3% of last year's total at this point. After a slowdown in the early months of the year, FDI in Vietnam has come back strongly. Vietnam has been training highly skilled human resources to grasp the opportunities created by foreign direct investment.
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A UN conference on Trade and Development estimated that coronavirus would slash global investment 40% this year and said economies could suffer recessions, or even longer-term negative growth.
Vietnam’s FDI of nearly 20 billion USD, 13% less than last year, is a smaller reduction than other countries have seen. This shows that foreign investors trust Vietnam’s investment environment.
Do Nhat Hoang, Director of the Foreign Investment Department of the Ministry of Planning and Investment, said: “Through seminars and online exchanges we have talked to foreign investors and found that they have a growing interest in Vietnam. It’s a good sign that more opportunities will be created for Vietnamese businesses.”
Vietnam has exerted efforts on administrative and policy reform to create a favorable investment environment and consistent legal system. Nguyen Van Toan, Vice President of the Foreign Investment Association, said that in order attract foreign investment , Vietnam needs to provide skilled senior managers and workers.
“Training should serve society for the short, medium, and long term. We need specific programs to train a core labor force,” Toan said.
Vietnam has an abundant workforce compared with other countries - 55.7 million people of working age, about 76% of the population. Viet Nam is in what is known as a 'golden population structure'. The Vietnamese government is trying to improve that workforce to ensure rapid and sustainable economic growth.
Vinh Phong