Vietnam‘s Tech Ambition Fuels Return of Global Talent: Policy Shifts and Corporate Drive Attract Skilled Diaspora
Hanoi, Vietnam – Vietnam is actively rolling out the red carpet for its skilled diaspora, implementing notable policy reforms too lure back highly qualified professionals and fuel its ambitious economic transformation. With a strategic pivot towards higher-value industries like semiconductors,artificial intelligence,and finance,the Southeast Asian nation is keen to leverage the global expertise of its overseas citizens.
Recent policy changes, including relaxed immigration rules and the introduction of dual nationality, signal a concerted effort to make returning to Vietnam a more attractive proposition. While no formal target for returnees has been set, analysts emphasize the critical need for globally experienced talent to achieve Vietnam’s burgeoning growth aspirations.
the story of Minh Hoang, who recently returned to hanoi after two decades in the United States, encapsulates the dual nature of this initiative. “I had everything in the US, a good job, a nice house, a nice life,” Minh shared with Nikkei Asia. “But working here means I can contribute to the country were I was born.” His decision was directly influenced by new policies that simplify the process for overseas Vietnamese to live and work in their homeland without relinquishing their foreign citizenship.
Now serving as Chief Data Officer at Techcombank Securities, Minh represents the caliber of professionals Vietnam is actively seeking: experienced, globally trained, and driven to contribute to the nation’s economic evolution. Though, the transition is not without its hurdles. Minh notes that integrating into Vietnam’s corporate culture, often characterized by hierarchical structures and less clear processes compared to western counterparts, can present challenges.
“There are many young and smart people on my team,” Minh observed. “Some are especially good at math, an essential skill for AI.” His experience highlights a key dynamic: while Vietnam possesses a wealth of raw talent, specialized expertise in cutting-edge technologies remains a critical area for development. this gap positions returning professionals as vital catalysts for upskilling local teams and driving innovation.
The private sector is playing a pivotal role in this talent acquisition drive. Techcombank, as an example, has proactively launched an “Overseas Talent Roadshow,” specifically targeting Vietnamese professionals in finance, data, and technology sectors across the globe.
Jens Lottner,CEO of Techcombank,expressed optimism about the initiative.”vietnam is more exciting now,” lottner stated. “The political leadership and the aspiration the government has articulated are very encouraging. So, people are saying: ‘Maybe now is the time to come back.'” The bank’s initial roadshows in Singapore and Europe attracted hundreds of potential candidates, underscoring the growing interest from the diaspora.
Despite these positive developments, persistent obstacles remain. inconsistent administrative enforcement across different provinces, as noted by consultancy InCorp Vietnam, can create uncertainty. furthermore, the absence of a thorough framework for dependent visas and spousal employment rights continues to be a deterrent for those considering long-term relocation.nevertheless,the momentum is building. Vietnam’s commitment to modernizing its economy and fostering a more welcoming habitat for its global talent pool signals a significant step towards achieving its high-value industry ambitions. The success of this strategy will hinge on continued policy refinement and a concerted effort to address the practical challenges faced by returning professionals.