Attracting OVs talent to Vietnam

Vietnamese are facing heightened economic pressures and competition from the effects of globalization as workers from China, India, and other developing Asian nations play an ever increasing role in the world's economy.

Advances in technology and transportation now mean that Vietnamese workers more and more are competing with workers overseas—not just in manufacturing, but also in high-skill and most all of the high-wage sectors.

Growth in information technologies, in particular, has facilitated deeper integration of economies across the globe while also posing both new opportunities and new challenges for the Vietnam economy.

To assist the nation attain an economic leadership role in the world and promote broad-based growth at home, the MOST has initiated a US$110 million project entitled FIRST.

The project targets the development of effective policies to support the country in research, innovation, and access to advanced information and telecommunications technologies.

“Through the establishment of a worldwide network of Vietnamese experts, there will be greater co-ordination among Vietnamese in research and innovation,” said Dr Ta Ba Hung, a consultant for the project.

Hung added that the project enhances knowledge-sharing among OVs with their domestic counterparts and encourages greater contribution to the country’s development.

Innovation has long fuelled economic growth around the globe, often giving rise to new industries and new jobs.

According to Hung, the growth of economies throughout the world has been driven largely by the pursuit of scientific understanding, the application of engineering solutions and continual technological innovation.

What makes knowledge, innovation and technology such powerful drivers of economic growth is that, unlike capital and labour, they do not suffer from diminishing returns.