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

Friday, 2021-10-01 15:47:58
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NDO/VNA - 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.

The two-year USAID-funded project is expected to support the nation’s strategy on the fourth industrial revolution to advance continued economic transformation.

MPI Deputy Minister Tran Duy Dong said that Vietnam's innovation ecosystem has passed the stage of quantitative development, and now entered a critical stage requiring in-depth investment to be able to form high-quality innovative start-ups.

To that end, the development of human resources is identified as one of the most important foundations. However, Vietnam's high-quality human resources in the fields of information technology, computer engineering and automation have not yet met the needs of the market, Dong noted.

Ann Marie Yastishock, Mission Director for USAID/Vietnam, stated that USAID WISE showcases the US Government’s commitment to partnering with Vietnam along its economic transformation, and will help advance this strategy, which centres on 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 Industry 4.0 via partnerships with the private sector. The project will build basic digital literacy, provide Industry 4.0 career pathways information to make smart talent investments, offer information and communication technologies, upskilling and reskilling for lifelong learning, and explore innovative financing mechanisms for relevant skills acquisition.

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