PM Nguyen Tan Dung approves the re-lending conditions for ADB-funded project

PM Nguyen Tan Dung approved conditions for re-lending the loan provided by the Asian Development Bank (ADB) for the Skills Enhancement Project.

The PM assigned the Ministry of Labor, Invalids and Social Affairs to work with the ADB to review criteria and select non-public vocational training schools for Vietnam Development Bank (VDB) to assess their financial capacity and liabilities.

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The project is worth US$78 million, of which ADB finances US$70 million. The Ministry of Labor, Invalids and Social Affairs is the project implementer.

The Project will produce a more competitive and highly skilled workforce in priority industries by developing higher level training programs at a new college level, while also establishing and strengthening system governance and quality assurance frameworks for vocational training. Studies will also strengthen the policy foundation for future development.

The project will improve the quality and management of vocational education and training (VET) programs in 15 public and five private vocational colleges (VCs) in economic zones offering programs for occupations in high demand in priority industries. The programs cover automotive technology, electrical manufacturing, hospitality and tourism, information and communication technology (ICT), mechanical manufacturing, and navigation and shipping./.

By Thuy Dung (VGP)