Increase training links to improve labor quality
Resolution 10-NQ/TW of the Politburo emphasizes the development of high-quality human resources, strengthening links between the State, training institutions, domestic enterprises and foreign investors.
Talking to Lao Dong Newspaper, Mr. Pham Ngoc Thach - Deputy Head of the Legal Department, Vietnam Chamber of Commerce and Industry (VCCI) - assessed that, along with clearly defining priority areas to attract foreign investment, Resolution 10 also sets very clear requirements for strengthening links between the FDI sector and the domestic business sector. This linkage needs to be further promoted and developed in sync so that the two sectors can grow together. To do this, human resources are an important factor and need to be addressed from at least two perspectives.
The first is from training institutions, including universities, vocational education institutions and other training units. These institutions need to closely follow the socio-economic development orientations of the country, clearly identify priority industries to train human resources to serve the fields that the country is focusing on developing.
Second, it is necessary to create a closer and more effective connection between training institutions and businesses. Businesses themselves are employers, understanding best what kind of human resources they need, from knowledge, skills to practical competence. These requirements need to be reflected in the training program development process, so that when workers graduate, they can better meet the needs of businesses.
Mr. Thach proposed that the State have policies to support training costs and improve skills to encourage businesses to invest in human resource development.
Increase the internal strength of Vietnamese businesses to take advantage of the new FDI wave
Talking to Lao Dong Newspaper, Dr. Phi Vinh Tuong - Deputy Director of the Vietnam and World Institute of Economics - said that Resolution 10 was born in the context of our implementation of the Resolution of the 14th Party Congress on innovation of development models, establishing a growth model based on science and technology, innovation and digital transformation.
Resolution 10 sets out the goal of attracting new generation FDI capital flows, capital flows with quality, technology and potential to open up opportunities for Vietnamese businesses to participate in international supply chains. This will help the Vietnamese economy achieve goals such as overcoming the middle-income trap, successfully implementing the green growth strategy, developing a circular economy and moving towards a sustainable growth model.
For Vietnamese businesses to catch up and take advantage of technology from the FDI sector, Vietnamese businesses themselves must proactively improve their technological capacity to meet the standards and conditions set by FDI businesses. If they cannot meet them, it will be very difficult to participate in the supply chain.
According to Dr. Phi Vinh Tuong, in fact, the spending on research and development (R&D) of Vietnamese enterprises is still very low, especially small and micro enterprises. Therefore, the Government also needs to have policies to support domestic enterprises to invest in research, development and innovation to improve technological capacity. If only relying on the resources of the enterprise itself, especially small enterprises, it is very difficult to improve research, development capacity and master core technology.
