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HR development a key factor in integration

Released at: 18:05, 14/12/2017

HR development a key factor in integration

Dr. Nguyen Quang Trung was speaking at the event (Photo: Hai Van)

RMIT conferences highlight the important role human resources play as Vietnam integrates further into the global economy.

by Hai Van

The development of human resource is an important factor contributing to helping Vietnam successfully integrate and create a solid business environment, Dr. Tran Du Lich, advisor to Prime Minister Nguyen Xuan Phuc, told the International Business Colloquium on December 13 in Hanoi.

“Countries relying on human resources for development will be more successful than those relying only on natural resources,” Dr. Lich said at an event organized at RMIT Vietnam’s Saigon South campus last month, where he was the main speaker.

Dr. Nguyen Quang Trung, RMIT Vietnam’s Discipline Lead for the International Business program, told the Hanoi event that there is a need for strong collaboration in the education and training system to develop human resources.

“In order to create a strong economy with its own human resources, local and international universities operating in Vietnam should have plans to equip students with 21stcentury skills and knowledge as well as insights into business trends around the world,” he said. “An international business program should look at developing management skills through real-life business situations and analysis of global business trends. RMIT Vietnam’s Bachelor of Business (International Business) program focuses on the study of international law, global marketing, entrepreneurship, macroeconomics, finance, management, and economics.”

Dr. Trung provided figures showing that Vietnam has been one of the fastest-growing economies in the world, with growth forecast at 6.7 per cent for this year.

However, Vietnam’s business environment still has many obstacles and needs more improvements from now to 2035 to catch up with trends in globalization and the information age.

Dr. Lich agreed with this idea, highlighting a number of improvements needed to successfully integrate into the global economy. The government should support the development of private enterprises, equitize State-owned enterprises, improve public investment management mechanisms, speed up the process of handling bad debts, focus on expanding the economic scale, and improve the quality of the stock market, bonds, and insurance.

Dr. Nguyen Si Dung, former Deputy Head of the Office of the National Assembly, said Vietnam has to build a new business culture and philosophy for the country and its enterprises as well as adopt ethics in doing business.

“In order to develop a good international business environment, we must immediately remove short-term vision and eliminate the lack of links in the economy and the lack of transparency in business relations,” Dr. Dung said.

The International Business Colloquium, entitled the International Business Environment in Vietnam: Opportunities, Challenges and How to Move Forward, was held by RMIT Vietnam’s School of Business and Management and saw the attendance of many international and local company leaders, policymakers, experts, scholars and students.

The event aimed to explore the views from industry experts, policy makers, and academics on the issues and challenges for international business in Vietnam.

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