Illustrative image. (Source: VNA) Hanoi (VNA) – The Asian Development Bank (ADB) hasapproved a 78-million-USD financing package to help Vietnam’s labour force meetmarket demands by improving the quality of national technical and vocationaleducation and training (TVET) institutions.
With more than 60 percent of thepopulation under 35 years of age, Vietnam has the potential to deliver high andsustainable economic growth, said ADB senior social sector specialist SakikoTanaka.
To help realize this potential, theSkills and Knowledge for Inclusive Economic Growth Project aims to help ensureVietnam’s workforce has the skills and knowledge necessary to increase theircompetitiveness and productivity for the global market, she noted.
The project, supported by a75-million-USD loan from the ADB, will provide advanced training equipment to16 national TVET institutes. In collaboration with the business community,these upgrades will help enhance the quality of training programmes foradvanced skills in key growth areas, such as electronics, mechanics,biotechnology, automation, and automotive industry.
In addition, a 3-million-USD grant providedby the Japanese government will complement these activities by strengtheningthe quality of the soft skills, such as the ability to communicate, teamwork,and problem-solving, and developing demand-driven short-term skills programmesfor women and youth in disadvantaged communities.
Vietnam has enjoyed sustainedeconomic growth in recent years, becoming one of the fastest growing economiesin Southeast Asia. But the country is currently facing a shortage of skilledlabour, and its labour productivity is lower than its neighbours in SoutheastAsia — 7.5 percent of Singapore’s and 17 percent of Malaysia’s in 2015, forinstance.
A survey by the Vietnam Chamber ofCommerce and Industry (VCCI) said TVET graduates lack industry-specific skillsand other soft skills.
The project is expected to benefit about75,000 students by improving teaching and learning environment. At least 2,500adults and out-of-school youth are expected to take part in short-term skillstraining courses to help them find better-paid jobs or start their ownbusinesses. –VNA
VNA
