Government Policies and Supports – Discussion Review for Direction on university – Business Collaboration in Vietnam

Abstract

According to The World Bank, Vietnam is classified in the group of lower-middle-income economies (GNI per capita from $996 to $3,895)[i]. The GDP's growth rate in 2019 was at 7.02%[ii]. As the fast-growing economy, Vietnam needs to accumulate physical and human capital, to be efficient in the allocation of resources, and to utilise technology adoption. More than that, there should be a suitable sharing of the benefits from growth(Great Britian, DFID, 2008).All those will support the progress of the national economy. University-Business Collaboration (UBC) plays a crucial role in founding the National Innovation System and provides quality human resources for socio-economic developments. It is also the solution for improving human capital. This leads to the trend of focusing on promoting UBC from policymakers in Vietnam.

The review paper from previous studies and research findings would like to discuss some of the recent indicators for paths possibly to support education and training UBC in Vietnam. Even providing a lot of favors toward UBC in education and training in Vietnam, the Government still faces difficulties in gaining a quality workforce for economic development. The UBC in Vietnam is still superficial with issues related to obtaining a commitment from both sides. There is a limited understanding of UBC in the public. The stakeholders’ capability needs to upgrade to benefit each other in UBC. Information sharing and networking would be one of the ways to flow some of the concerns in this situation.