Policy Solutions for Vietnam to Develop Digital Human Capital Resource from Singapore’s Perspective

Abstract

Along with the promise of Industry 4.0, Vietnam shares common themes with Singapore in recognizing the vitality of digital transformation for nation-building. However, there is a big gap in human capital resource development for digital transformation between the two countries, which is a key factor in the great differences between their digital transformation successes. Based on analyzing and comparing key policies and programs for human capital growth and development for digital transformation between the two countries, this paper emphasizes that Vietnam can learn from Singapore in digital human capital growth and development for accelerating its digital transformation. Singapore demonstrates that human capital investment can pay substantial dividends, recognized as the heart of the country’s development and a decisive factor in its digital transformation. This paper also emphasizes that for Vietnam to achieve its digital transformation ambitions, specific policies and programs need implementing on the one hand to equip the population with the appropriate digital skills to adapt to digital transformation, while on the other hand breakthrough policies and ambitious programs are needed to build a core team of digital talent.