Abstract
Public investment in education and training occupies an important proportion in Vietnam public budget, approximately 20%, equivalent to 5% GDP. Public investment in education and training has many positive benefits and impact on the economy and society by contributing to economic growth, by improving the national productivity, people’s qualification and intellectual level well as reducing unemployment, poverty in a country. On the basis of an empirical analysis in Vietnam, this paper propose several relevant recommendation for Vietnam government to improve the performance of public investment in education and training by making contribution to ensure suitable investment structure as well as uphold important role of education and training to the development of the economy and society.
Highlights
In the perspective of knowledge economy, UNESCO stated the important role of education and training by inciting governments to increase public investment in education and training
This paper aims to analyze the public investment in education and training in Vietnam
On the basis of our empirical analysis, we propose recommendations to Vietnam government for a more suitable investment structure as well as for upholding important the important role of education and training to the development of the economy and society
Summary
In the perspective of knowledge economy, UNESCO stated the important role of education and training by inciting governments to increase public investment in education and training. The public investment in education and training is considered as driver for economy and society development by improving people’s qualification, intellectual level, supplying qualified human resource, contributing to social values, and the economic growth of a country. Education and training allows a country to exploit and uphold competency of their citizens in general and the employees in particular, by improving working productivity and competence (Sianesi & Van Reenen, 2000). In Vietnam, the government pays always a particular attention on public investment in education and training since long time ago. Apart from several achievements, public investment in education and training still exist shortcomings such as unreasonable investment structure in education and training with inequality of investment in different grades. The activity of training was not linked to the target, not basing on output efficiency
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