Ho Chi Minh City (VNA) – Ho Chi Minh City is expanding its development space, forming new growth poles and attracting investment into technology- and knowledge-intensive sectors.
Alongside efforts to improve the quality of FDI inflows, the city faces the challenge of attracting and retaining high-quality human resources.
Speaking at a seminar entitled “Ho Chi Minh City: Attracting International Talent for a New Era of Growth” on September 30, Deputy Director of the Ho Chi Minh City Department of Finance Quach Ngoc Tuan said that under Resolution No. 10-NQ/TW of the Politburo on developing the foreign-invested economic sector, the city’s development space is being organised around three growth poles.
The central area, comprising the traditional inner-city area, will focus on developing an international financial centre, commerce, professional services, education, research and innovation.
The northern growth pole, covering the former Thu Duc city and Binh Duong areas, is shifting from traditional manufacturing towards ecological and smart industries and innovation. It is expected to attract investment in semiconductor manufacturing, artificial intelligence (AI), data centres and other high-tech sectors.
Meanwhile, the southeastern growth pole, covering the former Ba Ria-Vung Tau and Can Gio areas, will capitalise on the potential of the marine economy, next-generation logistics and clean energy.
The formation of new growth poles is also creating greater demand for highly skilled workers.
Tuan said competition for FDI was no longer based mainly on cheap labour or tax incentives, but increasingly depended on institutional quality, innovation capacity, human resources, infrastructure and the strength of domestic enterprises.
“The key task is not only to screen projects, but also to create a human-resource ecosystem capable of absorbing high-quality investment,” he said.
From a business perspective, Vo Nguyen Hung, Country Head of HR at Ipsos Vietnam, said companies could provide jobs, incomes and social welfare, and assist foreign experts with housing and schools for their children. However, other factors beyond businesses’ control determine whether experts decide to stay long term.
Foreign experts coming to Ho Chi Minh City also look for a “second home”, he said, noting that education for children, entertainment and international connectivity are important factors in retaining them.
Building a comprehensive ecosystem
While human resources are essential for FDI enterprises to operate and expand, urban quality also affects the city’s ability to attract and retain such talent.
Vo Huynh Tuan Kiet, Director and National Head of Residential Project Marketing at CBRE Vietnam, said housing prices in central areas have risen significantly in recent years, while improved transport infrastructure has shortened travel times between satellite urban areas and the city centre.
For experts, areas offering comprehensive housing and services, together with convenient connections to workplaces, could therefore become more attractive options, he said.
Angus Liew, Chairman of Operations at Gamuda Land Vietnam, said talented professionals also seek communities and surrounding amenities, in addition to quality housing. Transport links, infrastructure, quality education and healthcare should therefore be taken into account in policies to attract international talent.
He said the "integrated urban area” model is an optimal solution for providing comprehensive amenities for high-quality personnel who come to live and work for the long term. Attracting high-quality personnel should not focus solely on individual talent but also take into account their families, including educational opportunities for their children and elderly care services amid population ageing.
Pham Binh An, Deputy Director of the Ho Chi Minh City Institute for Development Studies (HIDS), said the model is also part of the city’s development orientation, with comprehensive consideration given to the needs of high-quality human resources.
Experts at the seminar said that in the competition to attract high-quality FDI, the city’s advantages lay not only in its market size, infrastructure and incentives, but also in its ability to build a living and working environment attractive enough to draw and retain international experts.
This will be an important condition for improving the quality of FDI inflows, enhancing technology absorption and promoting high-value-added sectors, thereby contributing to the city’s growth in the coming period./.
