“The Visionary’s Dilemma: Elevating Vietnam’s Per Capita Income to Match Northern European Standards”

On May 7th, the Forum on Generating New Impetus for the Nation and the Launch of the Strategic Human Resources Alliance to Implement Resolution 57-NQ/TW was held.

Speaking at the forum, Truong Gia Binh, Head of the Private Economic Research Center and Chairman of FPT’s Board of Directors, stated that since the first year of renewal (1986), Vietnam has witnessed remarkable development, and the lives of its citizens have improved significantly.

However, he pointed out that the country’s current per capita income remains at $4,700 per year, while neighboring countries have reached figures as high as $30,000 to $40,000. Mr. Binh aspires for Vietnam to attain income levels comparable to those of Nordic countries.

According to Mr. Binh, the Party and the State have outlined various strategies for national development in the new era. Firstly, ensuring that the institutional framework is not a bottleneck but instead creates a competitive advantage over other countries. This involves streamlining the organizational structure to be as efficient and effective as possible, led by talented and dedicated individuals who prioritize the well-being and prosperity of the people.

To achieve this, Mr. Binh emphasized the need to harness the collective strength of the community, unleashing the potential for labor and creativity on a nationwide scale, from the central to local levels.

“We cannot achieve high incomes compared to developed countries if we do not create immense and unique value, and that is precisely where technology comes in,” he stressed. “We must utilize technology to excel in governance, strategy, project implementation, and product development. We will be a nation in the semiconductor industry, leading in various technological fields. Our products will embody the intellect and ingenuity of the Vietnamese people.”

Amid global concerns about AI displacing jobs, Mr. Binh suggested that Vietnam should cultivate a global workforce with expertise not only in management and social sciences but also in information technology.

He noted that while Vietnam’s education system has traditionally focused on specialized subjects like mathematics, physics, chemistry, literature, history, geography, and computer science, similar to other countries, the current challenge requires a more concrete approach to human resource development, closely tied to the country’s specific objectives.

This led to the establishment of the Strategic Human Resources Alliance to Implement Resolution 57-NQ/TW, involving FPT University and other institutions. The alliance aims to cultivate a generation of professionals with strong expertise, technological acumen, and the necessary skills to actively contribute to the implementation of Resolution 57-NQ/TW.

Mr. Binh referred to this cohort of professionals as “57 engineers,” emphasizing the urgency of their training and deployment. He shared an example of their potential impact, stating, “Recently, we worked with the Haiphong Party Committee, and the Secretary of the City Party Committee requested that we assign these engineers, as we call them ’57 engineers,’ directly to the units. Every department will welcome them. Not just Haiphong, but many other provinces will do the same. So, this force needs to be trained very quickly and put into practice very quickly, combining learning and working. This has never happened before. Because if our students don’t work on AI, who will? That’s the demand.”

Emphasizing the importance of language proficiency, Mr. Binh stated that today’s professionals must be fluent in foreign languages as Vietnam integrates globally. He highlighted that to collaborate effectively with leading technology experts from advanced countries, our language skills and technological capabilities must be on par with theirs.

“The wealthy do not just serve themselves; they serve the world,” he said. “We will only be rich when we can do what others cannot or do not have the resources to do.”