USAID-funded project betters Vietnam’s innovation, startup ecosystem

The Ministry of Planning and Investment (MPI) and the US Agency for International Development (USAID) on October 1 launched the Vietnam Workforce for an Innovation and Start-up Ecosystem (WISE) project.
USAID-funded project betters Vietnam’s innovation, startup ecosystem ảnh 1Illustrative image (Source: MPI)
Hanoi (VNA) - The Ministry of Planning and Investment (MPI) and theUS Agency for International Development (USAID) on October 1 launched theVietnam Workforce for an Innovation and Start-up Ecosystem (WISE) project.

The two-year USAID-funded project is expected to support the nation’s strategyon the fourth industrial revolution to advance continued economictransformation.

MPI Deputy Minister Tran Duy Dong said that Vietnam's innovationecosystem has passed the stage of quantitative development, and now entered acritical stage requiring in-depth investment to be able to form high-qualityinnovative start-ups.

To that end, the development of human resources is identified as one of themost important foundations. However, Vietnam's high-quality human resources inthe fields of information technology, computer engineering and automation havenot yet met the needs of the market, Dong noted.

USAID-funded project betters Vietnam’s innovation, startup ecosystem ảnh 2Ministry of Planning and Investment and USAID  launch Vietnam Workforce for an Innovation and Start-up Ecosystem (Photo: VNA)
Ann Marie Yastishock, Mission Director for USAID/Vietnam, stated that USAIDWISE showcases the US Government’s commitment to partnering with Vietnam alongits economic transformation, and will help advance this strategy, which centreson mastering and integrating new advanced technologies, spurring innovation,and accelerating the growth of the digital economy.

USAID WISE will therefore support scalable, market-driven,and sustainable models in which to prepare the nation’s workers for Industry4.0 via partnerships with the private sector. The project will build basicdigital literacy, provide Industry 4.0 career pathways information to makesmart talent investments, offer information and communication technologies,upskilling and reskilling for lifelong learning, and explore innovative financingmechanisms for relevant skills acquisition.

The project will also support Vietnam's efforts toemphasise Industry 4.0 skills development opportunities to all demographics bydevoting a special focus on women and vulnerable groups in order to help narrowthe country’s digital divide. This priority is consistent with the USAIDDigital Strategy and will deliver a long-term impact in the nation through aninformation and communication technology sector that features leaders, coders,designers, and technicians that advance the use and development of Industry 4.0as it takes root across the Vietnamese economy./.

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