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.
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.
Ministry 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./.
Foreign investment into Vietnamese startups is predicted to increase although the COVID-19 pandemic has left negative impacts on the economy, according to experts.
The fourth outbreak of the COVID-19 pandemic starting from late April has had more negative impacts on daily life as well as socio-economic development than the previous waves in the country.
The Ministry of Planning and Investment (MPI) has coordinated with relevant ministries, sectors, agencies and localities to build a draft resolution on supporting and developing businesses in the 2021-2025 period, with a target of about 710,000 newly-established enterprises in the period.
Qualcomm Technologies Inc., a subsidiary of the US multinational corporation Qualcomm, on September 29 announced three winners at the final round of the Qualcomm Vietnam Innovation Challenge 2021.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustrative image (Source: MPI) 
Ministry of Planning and Investment and USAID launch Vietnam Workforce for an Innovation and Start-up Ecosystem (Photo: VNA) 
