Feb 16, 2019 / 09:43
Vietnam ranked second in ASEAN in World Bank’s Human Capital Index
A Vietnamese child with full access to education and health service, by the time of maturity, would have a labor productivity at 67%, which is in equal to China and second in Southeast Asia, only behind Singapore.
Vietnam is ranked 48 out of 157 countries and territories in terms of human capital index (HCI) with a 0.67 score, which is unchanged from last year, claiming the second spot in ASEAN behind Singapore, according to the World Banks’s latest World Development Report.
The HCI measures the consequences of neglecting investments in human capital in terms of the lost productivity of the next generation of workers. In countries with the lowest human capital investments today, the report suggested that the workforce of the future will only be one-third to one-half as productive as it could be if people enjoyed full health and received a high-quality education.
“By integrating into global value chains, Vietnamese workers developed their foreign-language abilities, building additional human capital that allows them to expand into other markets,” stated the World Bank in the report.
According to the report, a Vietnamese child with full access to education and health service, by the time of maturity, would have a labor productivity at 67%, which is in equal to China. In Southeast Asia, this rate for Singapore is 88%, Malaysia 62%, Thailand 60%, the Philippines 55% and Indonesia 53%.
Education and health service are two components of the HCI, while education is evaluated through harmonized test score, health services based on the rate of children not stunted.
Vietnamese students scored second in learning in ASEAN behind Singapore and at the top tier of the world, but remained low in terms of stunting, which was the main reason for Vietnam’s moderate ranking.
Singapore stood at the top spot worldwide with 0.88 score, followed by South Korea and Japan at 0.84 and Hong Kong (China) 0.82, indicating a strong focus on human development of the East Asian region.
The HCI measures the consequences of neglecting investments in human capital in terms of the lost productivity of the next generation of workers. In countries with the lowest human capital investments today, the report suggested that the workforce of the future will only be one-third to one-half as productive as it could be if people enjoyed full health and received a high-quality education.
“By integrating into global value chains, Vietnamese workers developed their foreign-language abilities, building additional human capital that allows them to expand into other markets,” stated the World Bank in the report.
According to the report, a Vietnamese child with full access to education and health service, by the time of maturity, would have a labor productivity at 67%, which is in equal to China. In Southeast Asia, this rate for Singapore is 88%, Malaysia 62%, Thailand 60%, the Philippines 55% and Indonesia 53%.
Education and health service are two components of the HCI, while education is evaluated through harmonized test score, health services based on the rate of children not stunted.
Vietnamese students scored second in learning in ASEAN behind Singapore and at the top tier of the world, but remained low in terms of stunting, which was the main reason for Vietnam’s moderate ranking.
Singapore stood at the top spot worldwide with 0.88 score, followed by South Korea and Japan at 0.84 and Hong Kong (China) 0.82, indicating a strong focus on human development of the East Asian region.
Other News
- Hanoi digitizes public transport ticketing
- A new lease on life for Hanoi's community library system
- Gen-Z workers driven by career advancement and work environment
- Wide range of World Water Day 2024 activities in Vietnam
- Hanoi police fine street vendors for overcharging foreign tourists
- USAID launches US$3 million project to protect Vietnam's natural habitat
- Hanoi to improve children's legal knowledge
- Hanoi celebrates Vietnam Book and Reading Culture Day 2024
- Hanoi's gift and flower market gets a boost on International Women's Day
- Hanoi outlines plan for consumer demand stimulus program
Trending
-
Vietnam is always serious about implementing international human rights commitments
-
Vietnam’s stock market remains attractive investment channel: Expert
-
Vietnam news in brief - April 17
-
Colorful stage shows in Hoan Kiem Lake pedestrian area
-
It happened as it had to happen
-
Hanoi street where dead appliances come back to life
-
Vietnam’s economy urged to rely on internal strengths to weather global uncertainties: ADB
-
Vietnam, Thailand advance realization of “Three Connections” strategy
-
MICHELIN Guide sets its sights on Vietnam’s central region