Vietnam’s quality and efficiency of investment in education

Based on analysis results of authorities’ statistics by qualitative and quantitative methods, the article proves that Vietnam is one of the countries with the total resources invested in education and training at a high level. However, Vietnam’s quality and efficiency of investment in education are not really commensurate with potentials and hopes. Although human resource quality has been significantly improved compared to previous decades, labor productivity of Vietnamese is still relatively low compared to that of Southeast Asian countries. At the same time, informal investment resources of the people for education and training are relatively large, but the proportion of trained workers is still relatively low in the total number of population as well as in comparison with that of other countries in Asia. Vietnam’s quality and efficiency of investment in education are therefore an issue that needs more investments of stakeholders

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venue for education is a great effort of Vietnam Government. However, non-state economic sectors have also recently been increasingly involved in education and training activities. The policy of prioritizing investment in education and socializing educational activities to attract non-public budget investment resources for human resource training and talent fostering is therefore reasonable. However, state budget should only be priorotized to focus on investing in some essential areas, but it is at the same time recommended to renovate the management model according to the autonomy mechanism for public educational institutions towards strengthening and broadening investment resources for this sector [12]. 2) Vietnam’s education is curently a relatively attractive market for investors. The fact that non-public educational institutions have increasingly affirmed their role and position in the overall national education has proved that the total investment resources of society for education in Vietnam are extremely potential and open-widened. Simultaneously, the international education system in Vietnam has also flourished. This demonstrates that although being prioritized to invest substantially, Vietnam’s public school system is facing a number of questions from their own operation mechanism as well as increasing level of more fierce competition of non-public educational institutions. This competitive process is regretably indispensable in the context of market mechanism, but it should be noted that once the public school system has been prioritized by the state to invest, they have not yet reached their full potential, chances of success in the context of upcoming integration will be a big challenge. 3) The number of Vietnam’s students studying abroad has recently been increasing rapidly. The majority of these are self-funded overseas learners. The total investment capital for overseas study of Vietnamese is rising considerably, 450 VIETNAM’S QUALITY AND EFFICIENCY OF INVESTMENT IN EDUCATION while the age of Vietnam’s abroad studying students is younger and the level of education is also expanding very fast. That fact has made Vietnam become one of potential educational markets in the world. The question for Vietnam’s national education system is not only to continue attracting investment resources from the state, society, and outside, but also to have suitable solutions to compete in a fair way with foreign education institutions right on their own home soil. This is not a simple problem for Vietnam’s current education institutions, but basically there is no other option in the global game that Vietnam has voluntarily participated proactively. 4) In essence, Vietnamese invest in education not only to develop themselves, but also to improve overall human resource quality of the country. To a certain extent, Vietnam’s national education system has somewhat achieved the goals of improving people’s knowledge, training human resources, and fostering talents. Vietnam has never possessed a human resources which are as sizeable, qualitative, and increasingly approaching standard levels of Asia as well as the world as what she is having. Nevertheless, reforming the higher education finance mechanism is still an urgent question. However, the mechanism of allocating public resources for education should be based on principle of fair and healthy competition [12] in order to be able to improve the quality and enhance the effectiveness of investment resources for education in the coming years. 5) Vietnam is one of the countries with the highest proportion of social resources invested in education in the world. The total amount of time, effort, and butget that the Vietnamese invest in education is immense. However, the proportion of Vietnam’s trained workers is still fairly modest. The number of people leaving the country to look for career opportunities in other economies is also increasing quickly. Meanwhile, the number of Vietnam’s abroad studying students returning home is getting smaller. At the same time, labor productivity of Vietnamese is basically still a challenge. Limiting and redefining the relationship between resource investment priority policies and actual results achieved of education system is therefore an urgent issue not only for the future and destiny of educational institutions, but also of the country’s long-term development strategy. In short, Vietnam is one of the countries with relatively large total investment resources for education. With the tradition of fondness for learning and respect for teachers established over thousands of historic years, Vietnamese often see education as one of the shortest possible routes for the future of each one as well as the whole nation. Based on the existing tradition and the increasingly urgent development needs of society, both Vietnamese officials and people attach great importance to prioritizing investment in education in a methodical and systematic manner, but the quality and effectiveness of investment are another story. The percentage of trained labor and labor productivity of Vietnam’s human resources is still a disadvantage. This fact shows that Vietnam’s quality and efficiency of investment in education are still not commensurate with potentials and expectations. III. CONCLUSION In conclusion, investing in education is a long-term strategic investment and has great expectations, because it focuses on one of the most fundamental issues of all time, the quality of human resources of all nation-states. Vietnam is one of the countries with the highest priority to focus all possible resources on education and training. Actually, Vietnam has also achieved a lot of respectful achievements in the area of education and training in terms of number and qualification. However, recently some pragmatic views claim that Vietnam’s investment in education in some cases is inefficient and leads to a waste of resources of learners themselves, their families, stakeholders, and society as a whole. The first manifestation of this problem is the redundancy of academic teachers and shortage of skilled workers that the whole society has recently been extremely worried. They all show that investing in education is a right strategy for both the state and people, but how to invest qualitatively and efficiently is a big matter of debate in the context of restricted resources. This fact raises several issues both in terms of Vietnam’s ducational philosophy and development philosophy in the future. IV. REFERENCES [1] Nhật Hồng (2018b). Giáo dục đại học Việt Nam đáp ứng như thế nào với vấn đề thất nghiệp? Retrieved from nghiep-2018101808270761.html. Accessed on October 19, 2019. [2] Đinh Thị Nga (2017). Đầu tư của nhà nước cho giáo dục, đào tạo: Thực trạng và một số đề xuất. Retrieved from de-xuat-125673.html. Accessed on October 19, 2019. [3] Hồng Hạnh (2018). Năm 2017: Chi ngân sách cho giáo dục là 248.118 tỷ đồng. Retrieved from 20180930163940791.html. Accessed on October 19, 2019. 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