HR development investment for the period is estimated to reach VND2.135 quadrillion (US$103 billion), or 12 per cent of gross capital formation, the majority of which is set to come out of the State budget, Official Development Assistance and Foreign Direct Investment.
Prime Minister Nguyen Tan Dung said that foreign capital should be directed at empowering training institutions to meet international standards.
The new incentive is mainly aimed at rapidly enlarging the country's trained workforce from the 40 per cent of last year to 70 per cent by 2020 (from 15.5 per cent to 50 per cent for agriculture, fisheries and forestry, from 78 to 92 per cent for industry and from 41 to 56 per cent for construction).
It also seeks to improve the quality of teachers to help train workers effectively.
As one of its chief proponents, Deputy Prime Minister Nguyen Thien Nhan said that, during policy making processes, human resource demands have rarely been taken into consideration until only recently.
"Whenever working with local authorities, they know a lot about capital and land needed for development, but when asked about human resource demand, they know very little," he said.
"This is the first time that Viet Nam will have a plan aimed specifically at human resource development in terms of sector demand and supply," Nhan added.
According to the deputy PM, only when human resource demand was clearly identified, would the education sector be able to determine concrete steps aimed at supply.
Former Minister of Education and Training Banh Tien Long said that identifying enrolment targets for each institution ahead of each academic year must be synchronous in both qualitative and quantitative terms.
"Training institutions shouldn't focus on numbers alone but on the quality of students they enrol and for what purposes they do so," he said.
Around 30.5 million workers, or 55 per cent of a workforce of 55 million, are expected to receive training by 2015 while the number of service sector workers will increase from 13 million, or 26.8 per cent of the workforce last year, to 15-16 million in 2015 and to 17-19 million (27-29 per cent) in 2020.
While the plan aims to identify the number of workers required by the construction, transport, finance-banking, tourism, information technology and nuclear energy sectors alongside labour export, it will also identify demand by region.
Nhan said that by the end of this year, each sector and locality would have had to finish compiling plans and information systems of their own to keep track of human resource development.
Chairman of the National Assembly's Committee for Culture, Education, Youth and Children Dao Trong Thi said that per capita investment in education, despite having been larger than that in other sectors, was still low compared to other countries.
On average, Viet Nam has invested around $100 per head while developed countries often invested thousands of dollars in each of their individual students, he said.
"We are still not good enough at utilising current investments. Funds should have been better managed," he added.
It is expected that there will be 259 universities by 2020 and 314 colleges by 2015, meaning 70 new universities and 88 colleges will have to be established by then.
The Government plans to increase the number of vocational schools to 540 and vocational centres to 1,050 during the next decade.
The total investment for education and vocational training in this period is estimated at around VND1.3 quadrillion ($63 billion).
Source: VNS
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