Overall, the program aims to provide a strong premise for comprehensive developing the labor market; effectively mobilizing, distributing, and utilizing resources to boost socio-economic growth; shift to a modernized labor structure; and promote links between the domestic labor market and those of the region and the world.

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Workers at a garment factory

Its objectives are to increase the number of workers with labor market-relevant skills and raise the number of trained workers to 30 percent by 2025 and 30-45 percent by 2030.

Under the program, Vietnam expects to be among the top 60 countries in the Knowledge Workers sub-pillar of the Global Innovation Index (GII) by 2025 and among the top 55 by 2030. The country also sets having 80 percent of its workforce possess IT skills by 2025 and 90 percent by 2030, while reducing the rate of young adults unemployed or untrained to below 8 percent.

To this end, the country plans to improve the relevant legal framework to bolster the development of the labor market; support the development of labor supply and demand, a labor market database, social welfare and insurance, and a specialized labor market; and promote links between the domestic and foreign labor markets.

It will also develop a set of indicators measuring the development of the labor market compared with the regional and global markets, and evaluate the labor gap between regions.

Source: VNA