"Rolling out the red carpet" for the CEO.

It's not unusual for localities to "roll out the red carpet" to attract talent in fields such as science and technology, education and training, or culture and arts.

However, when Hanoi proposed hiring experts and managers from the private sector to run state-owned enterprises and public service units, it still attracted special attention. This is because it is not just a personnel change but also reflects a new mindset in public sector governance.

For a long time, the selection of leaders in state-owned enterprises has primarily followed administrative procedures, confined to pre-existing personnel planning. While this approach ensures stability, it also reveals limitations when the economy demands modern management capabilities, innovative thinking, and rapid adaptability.

Meanwhile, the private sector has seen the emergence of many CEOs (chief executive officers) and experienced managers who have helped businesses achieve strong growth, improve capital efficiency, and expand markets. Hanoi's "opening up" and proposal to hire experts and managers to run state-owned enterprises demonstrates a determination to change traditional management practices.

A notable point in Hanoi's recent draft proposal is the shift from administrative appointments to leadership selection based on competence and output. The city plans to implement a contract-based system, paying salaries by agreement and linking income to performance. Those hired could receive bonuses of up to four months' salary if they perform their duties well.

More importantly, the draft also sets strict conditions regarding conflict of interest control, transparent declaration, and a commitment to non-corruption. This shows that Hanoi not only wants to attract talented people but also aims to build a more transparent and professional governance mechanism.

With Vietnam aiming to become a high-income country by 2045, reforming the governance of state-owned enterprises is an urgent requirement. Many experts believe that hiring professional CEOs is normal in a market economy. The important thing is to empower executives with genuine authority and evaluate performance based on concrete results.

However, simply "rolling out the red carpet" is not enough. If businesses remain constrained by too many procedures, multiple layers of approval processes, or a fear of responsibility, even the most talented CEOs will struggle to create breakthroughs. Successful reform must be accompanied by clear delegation of authority and transparent accountability.

The pilot program also needs to be implemented cautiously, with specific criteria and effective monitoring mechanisms. We cannot allow a situation where CEOs are hired through market mechanisms but management remains bureaucratic, or where the open mechanism becomes a loophole for vested interests.

Hanoi's proposal is a positive sign, showing that public administration thinking is shifting towards prioritizing actual competence and work efficiency. When the public sector proactively seeks talent and is willing to compete to attract skilled individuals, it is not only a personnel innovation but also a shift in development thinking.

If implemented effectively, the "red carpet" mechanism for welcoming CEOs could become a catalyst for state-owned enterprise reform, contributing to improved management efficiency and creating further impetus for economic growth.

Source: https://nld.com.vn/trai-tham-do-don-ceo-196260528203841803.htm