Vietnam needs to fix a massive skill gap— it's betting big on reverse brain drain

Vietnam is stepping up efforts to attract skilled overseas professionals as part of sweeping economic reforms aimed at propelling the country into higher-value industries. Recent policy changes include relaxed immigration rules and the introduction of dual nationality to entice members of the Vietnamese diaspora to return.

Officials say the country, with a population of 100 million, is seeking to bolster its talent pool in sectors such as semiconductors, artificial intelligence and finance.

The government has not set a formal target for returnees, but analysts say Vietnam needs highly qualified professionals with global experience to achieve its growth ambitions.

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The story of Minh Hoang illustrates both the opportunities and challenges of this drive. “I had everything in the US, a good job, a nice house, a nice life. But working here means I can contribute to the country where I was born,” Nikkei Asia quoted Minh, who recently returned to Hanoi after two decades abroad, as saying.

His decision came after Vietnam introduced policies making it easier for overseas Vietnamese to live and work in the country without giving up their foreign citizenship.

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Minh, now chief data officer at Techcombank Securities, typifies the professionals Vietnam is courting: experienced, globally trained and eager to contribute to the country’s economic transformation. Yet, even for those willing to return, integration into Vietnam’s corporate culture can be challenging, with hierarchical structures and opaque processes contrasting sharply with workplaces in developed economies.

Vietnam is betting that policy shifts under Communist Party leader To Lam will make the country more attractive to such professionals. The government has pledged further incentives on salary, accommodation and job opportunities, alongside procedural reforms to cut red tape. These measures are crucial as Vietnam navigates a transition from a low-cost manufacturing economy to one anchored in technology and high-value services.

“There are many young and smart people on my team,” Minh said. “Some are especially good at math, an essential skill for AI.” His experience shows that while Vietnam is teeming with raw talent, expertise in advanced technologies is still limited, leaving returning professionals to play key roles in upskilling local teams.

Private companies have been instrumental in driving the trend. Techcombank, for instance, launched an “Overseas Talent Roadshow” to connect with Vietnamese professionals working in finance, data and technology sectors abroad.

Chief Executive Officer Jens Lottner said the bank initially targeted Singapore and Europe, drawing hundreds of potential candidates. “Vietnam is more exciting now,” Lottner said. “The political leadership and the aspiration the government has articulated are very encouraging. So, people are saying: ‘Maybe now is the time to come back.’”

However, persistent obstacles remain. Administrative enforcement is inconsistent, with different provinces applying national regulations unevenly, according to consultancy InCorp Vietnam. The lack of a comprehensive framework for dependent visas and spousal employment rights further limits the appeal of long-term relocation.

Despite these challenges, momentum is building. The State Committee for Overseas Vietnamese estimates that around 6 million people of Vietnamese origin live abroad, with 10 per cent considered highly qualified professionals.

As the country pushes forward with infrastructure and technology projects, policymakers and companies alike are betting that many will view Vietnam’s changing economic landscape as an opportunity worth seizing.