“Don’t Waste Your Wisdom: A Call to Action for the Seasoned Professionals of Today”

During the recent CEO Talk event, themed around the new Resolution 68, Mr. Nguyen Canh Binh, Chairman of Alpha Books, shared his insights on the topic. He expressed his belief that Resolution 68 has restored the position of the private sector in the economy. Mr. Binh anticipates that this resolution will usher in a breakthrough phase of development, not just for private enterprises but for the entire nation.

The chairman highlighted the business community’s high expectations for the implementation of Resolution 68. He emphasized that, in his experience running a business, the most crucial factor is people. Over the years, when making investment decisions or strategic choices, people often presented proposals on paper with numbers and statistics. However, Mr. Binh argued that people are the most important element.

Therefore, he suggested that the focus should be on developing high-quality human resources in two key areas: within government agencies responsible for policymaking and in the private sector to execute these actions.

“Without the right people in place, even with the most favorable environment and policies, it will be challenging to realize such ambitious actions,” Mr. Binh stated.

However, he acknowledged that for over three decades since the renewal and open-door policy, there has been a divide between the two systems of human resources: the state system and the private sector. There has been little intersection between the two, with minimal movement of individuals from one sector to the other.

In contrast, Mr. Binh cited the example of the United States, where a bank chairman could become the Secretary of the Treasury, and vice versa. Furthermore, individuals could move between different sectors, such as finance and education, bringing a wealth of cross-sector knowledge and experience.

“When such knowledge and experience are intertwined and applied in various fields, it is more beneficial than having an individual remain in one sector for too long,” Mr. Binh opined.

He pointed out that while Vietnam has a limited number of high-quality human resources, they are often constrained by age limits and term limits, which is not the case in other countries. Mr. Binh suggested that instead of solely rotating management positions within government ministries and localities, it might be beneficial to consider rotations into the private sector.

“I don’t think successful individuals should be retiring at the age of 60 or 65. We have examples like former US President Donald Trump, who was in his seventies, or Mahathir Mohamad, who served as Malaysia’s prime minister in his nineties,” he said. “There are many capable and intelligent leaders in Vietnam who could continue contributing in either the public or private sector, allowing us to leverage their expertise and create a beneficial interplay between the two sectors.”