10:42 | 23/02/2017 Finance - Banking
(VEN) - The Banking University of Ho Chi Minh City has been offering training programs to enhance the quality of students in order to meet the increasing requirements of recruitment agencies.
Experts addressing a recent seminar on training and development of high-quality human resources for the Vietnamese financial and banking sector, said institutions are facing a growing shortage of qualified personnel, while much of their inexperienced labor force is redundant.
Le Huyen Ngoc, the former director of the Joint Stock Commercial Bank for Foreign Trade of Vietnam, Eastern Saigon Branch, said that during the 2005-2015 period, credit institutions saw strong development with a massive increase in the number of banks, as well as branches. However, the rapid growth revealed many shortcomings, including the quality of human resources.
According to the Institute of Manpower, Banking and Finance (BTCI), Vietnam produced around 29,000-32,000 university graduates in the banking sector during the 2012-2013 school year, and 61,000 students in 2016. The institute also predicted that the financial sector would need about 94,000 highly qualified workers in 2015 and 120,900 by 2020.
But despite the growing number of students being churned out by universities, and the accumulating need for workers in the sector, only 50 percent of graduates are employed by the banks and financial institutions. This is mainly due to the inability of many to work under pressure, and the limited foreign language and informatics skills of newly graduated students.
Limitations in foreign language and informatics skills are due to a massive increase in the number of training centers, which results in downgraded quality. Some centers are ready to grant certificates without training. Therefore, many newly graduated students have not met the requirements of their employers.
To improve the quality of training and meet the practical requirements of recruitment agencies, the Banking University of Ho Chi Minh City decided to recheck the level of foreign language and informatics of full-time students in the 32nd course in November 2016.
Dr. Tran Mai Uoc, the chief secretariat of the Banking University of Ho Chi Minh City, said that after the latest examination, only a few students met all the requirements.
The university’s decision is a good call because training according to certain standards will provide practical knowledge, especially in foreign languages and informatics in order for students to meet the increasing workplace requirements.