Experts and foreign business leaders have expressed optimism that Vietnam’s recent changes to visa and foreign labour policies will enhance the country’s competitiveness and attract greater investment, while acknowledging that certain challenges remain.

Minister of Planning and Investment Nguyen Chi Dung (third, right) and Jensen Huang, Chairman and CEO of NVIDIA, the world’s leading technology and chip manufacturer, during the latter’s visit to Vietnam in December 2023.

Vietnam is entering a critical stage of development, particularly in digital transformation and innovation, which requires a stronger pool of high-quality human resources.

However, progress in workforce improvement has been slow, with the proportion of workers holding degrees or certificates in the foreign direct investment (FDI) sector falling from 25.5% in 2021 to 21.7% in 2024.

To address labour shortages, the Government has recently introduced key measures, including Decree No. 219 on foreign workers and Decree No. 221 on visa exemptions for individuals making special contributions to socio-economic development.

Decree No. 229, which extends visa-free stays up to 45 days for citizens from 12 countries, is also expected to stimulate tourism and reinforce Vietnam’s image as an open and attractive destination.

Former Australian Ambassador to Vietnam Andrew Goledzinowski stressed that while Vietnam can train its own scientists, engineers, and managers over time, the transition to a high-tech economy requires immediate support from foreign experts. Vietnam is an open economy undergoing transformation and therefore continuously needs foreign expertise, he said.

Kim Nyoung-ho, President of the Korean Chamber of Commerce in Vietnam (KOCHAM), hailed Decree 219 as a major step toward easing long-standing difficulties faced by businesses.

By shortening processing times and broadening exemptions, the policy streamlines administrative procedures, improves HR management, and helps enterprises speed up investment plans.

Experts, however, also highlighted the need for further reforms, including long-term residence permits to provide greater certainty for investors.

For Timen Swijtink, an entrepreneur who has lived in Vietnam for 18 years, two-year residence permits are not an issue. He said reforms in visa and labour policies are essential to building an environment that attracts and retains international talents. Thisis critical for Vietnam to maintain its competitiveness both regionally and globally, he said.

But for others, longer-term residence permits are critical when deciding on large capital commitments. Expert Hong Sun suggested that Vietnam consider issuing 10–20 year residence cards for major investors, with clear criteria to encourage long-term engagement.

Flexibility in the implementation was another concern. Goledzinowski cautioned that certain rules, such as limiting the Special Visa Exemption Card (SVEC) to only the top 100 football players, may be too restrictive. Hopefully, regulations will be applied in ways that maximise benefits for Vietnam, he said.

Kim Nyoung-ho further noted that clear, consistent guidelines and transparent enforcement of new rules are vital to building investor confidence.

Vietnam should increase flexibility in implementing visa policies for the workforce in special fields to supplement incentives for highly skilled workers, he added.

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