Brian Jeffrey
The vision is for HCM City to evolve into a smart, livable urban center that harmonizes with nature and excels in a global context.
In 1965, South Korea’s GDP per capita was roughly $106, similar to Vietnam’s at the time. Fast forward to 2022, Vietnam has grown to $4,116, while South Korea skyrocketed to $32,394.
Experts attribute Korea’s growth to their commitment to attracting talent, particularly in high-growth sectors like semiconductors and electronics, over the past four decades.
What steps should Vietnam, especially HCM City as the nation’s economic driver, take for its future development, particularly as it aims to grow in size and economic capability?
VietNamNet engaged with AVSE experts with global experience to share their thoughts on returning to Vietnam to support national growth.
After earning his degree from HCMC University of Technology, Khoa spent 25 years working abroad. He currently is with the Norwegian Geotechnical Institute, focusing on energy initiatives, including wind and oil. Though originally from HCM City, he spent more years abroad than he did at home.
Khoa has received offers to return to Vietnam for roles in marine and renewable energy but has chosen to stay in Norway.
He believes four key elements are needed for Vietnam to effectively attract talent.
Firstly, a professional, competitive, and innovative workspace is essential. Many Vietnamese professionals excel in high-tech and finance globally and require an environment that encourages creativity and innovation.
With the city’s expansion, the development of high-tech zones and startup ecosystems will be crucial in drawing talents interested in sectors like energy and logistics.
Secondly, ’empowerment’ is vital. Talents need to engage in meaningful projects and have their opinions valued. This aspect is lacking compared to European work environments, which excel in this regard.
Third, quality of life must be prioritized, ensuring a clean, safe environment with low pollution levels. Lastly, there should be clear incentives and simplified legal and administrative frameworks, minimizing bureaucratic hurdles.
Khoa notes that many discussions on attracting talent focus on salary and benefits, but these, while important, aren’t the sole driving factors.
For Khoa, incentives involve career growth opportunities and impactful projects. When organizations invite talent back, they ought to consider long-term strategies, especially for those settled overseas.
“The prospects of a position and the clarity of commitments from authorities and companies on utilizing their skills for significant challenges matter most,” Khoa remarked.
Dinh Thanh Huong, Executive Director at AVSE Global, asserts that talent attraction is a national issue—not just confined to HCM City—and that national policies must align with the city’s strategies.
Regarding compensation, Huong believes it can be segmented. Some seasoned professionals may not prioritize finances when considering a return and could even contribute significantly economically.
Man, currently a Senior Engineer and Director at GTC Soil Analysis Services Laboratory in Dubai, emphasizes the importance of human capital for sustainable growth. HCM City boasts numerous educational institutions, high-tech zones, and top hospitals, all indicative of rich human resources.
The city should aim for “Knowledge Cities,” akin to Singapore’s One North or Oxford City in the UK, integrating academia, government, businesses, and communities into innovation centers.
Talent development can thrive within university-business-community ecosystems. By leveraging its strengths, HCM City can build a “University City” for academic and scientific initiatives and a “Medical Village” for medical tourism, forming foundational elements in their knowledge landscape.
to be continued…
