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lower than by 30% compared with China and India. Thus, Vietnam has the advantage of a labor force, which is well-trained and cheap. However, after joining WTO there are some challenges in human resources when foreign companies have launched into Vietnam:

There is more competition forcing local companies to be more proactive and consistent in making any actions or decisions.

Getting a better remuneration package at foreign companies has attracted better skilled workers. This forces local companies to adjust their remuneration scheme.

Getting more flexible time at foreign firms has enabled people to work more comfortably and efficiently. Thus, this also forces local companies to adjust their time- table to keep workers away from transferring to foreigner companies.

Moreover, in the context of the current globalization in businesses, Vietnam is still facing a major problem which is the lack of a higher level of human resources, such as CEO, CFO, CIFA, so on.

Of course, the Vietnamese Government understands the importance of these issues which need to be overcome as soon as possible.

According to Deputy Prime Minister Nguyen Thien Nhan (2009):

“There are several reasons why the qualifications of Vietnamese laborers are still quite low. And he also stressed that: “The act of disregard for vocational training is a great barricade for educational development in Vietnam”.

Therefore, the policies of government support in promoting its human resources are being conducted more extensively, such as improving quality of education, especially for tertiary education and vocational training.

So as a result, in the next few years, hopefully Vietnam will have a higher number of workers with high- quality skills in order to attract more and more foreign companies’ investment, and also be able to compete with skilled and knowledgeable foreigners working in Vietnam.

IT industry

IT is always considered as the most interesting and dynamic industry, so Vietnam wants to strengthen its impacts. The value of IT for developing countries can be seen as an important tool to accelerate the process of international integration and help the government have more capacity in governance. Also, people in that country can have an easy access to information and knowledge from all around the world. Local businesses can definitely reduce costs and improve their operational performance by using modern technology.

According to Prime Minister Nguyen Tan Dung (2009) :”The Government of Vietnam promises to support multinational IT corporations in the way of building and developing their brand names in Vietnam, at the same time to encourage the application of IT in all parts of social life to create a dynamic IT market”.

Information Technology in Vietnam has accelerated rapidly in recent years. In 2008, IT market growth still remained strong, reaching 23%. And in 2009, it was estimated at over 20%, equivalent to $ 6.26 billion (in 2008 it was $ 5.22 billion). In particular, sales in the electronic industry and hardware industry were estimated at 4.68 billion dollars, up by 14%. And the software industry also had an estimated growth rate of about 30% with total revenue of $ 880 million. The numbers above show that the IT industry could still remain at a very high level even