Vietnam: domestic private sector and international standards

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The Vietnamese government, the chambers of commerce, the world bank and ambassadors gathered in Hanoi on Monday, December 5, 2016 at “Vietnam Business Forum”. The main topic was how the Vietnamese domestic private sector could bring itself up to international standards.

The labour productivity achieved in Vietnam by some leading foreign investors was amongst the best in the world. If these same standards could be applied to the larger domestic sector, then Vietnam could genuinely be one of the most successful countries in the world. The way the top foreign companies achieve these results is consistent and not a secret. They channel the naturally intelligent and hardworking Vietnamese labour using clear and fair international standard human resource practices.

On top of this there are some unique Vietnamese cultural strengths that allow a higher performance than even Chinese, Japanese, European or American workers. The Vietnamese family spirit can be turned into unrivaled teamwork. The Vietnamese fighting spirit can be turned into unbeatable motivation and winning spirit.

I showed that the government, foreign investors and the domestic sector could mutually support and benefit from each other. I suggested the way forward as the establishment of a Vietnamese Human Resources Institute, similar to that which most peer countries in he region have had for decades already. It is the role of the human resources profession to introduce these top standards to the domestic sector. This would largely be in the form of standardized government accredited vocational training standards.

Vietnam has already made remarkable economic progress. The World Bank stated that the growth rate is second only to China and that the wealth distribution is very equitable. But the best is yet to come – when the full potential of the Vietnamese workforce is realized, Vietnam will achieve one if the highest GDPs per capita in the world. This will happen faster than many people inside or outside of the country expect.

Text & photo: Colin Blackwell

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