The project aims to open opportunities for more than 54,000 unemployed graduates to look for work overseas.
According to MoLISA, the number of unemployed graduates from universities, colleges, vocational training schools or higher education was 326,000 by the end of March and it is rising.
Vietnam has used some programmes to send skilled workers to countries such as Germany, Japan and the Republic of Korea (RoK), but their effectiveness has been limited.
The ministry said sending skilled labourers abroad will be a sustainable and long-term project from now to 2025.
The scheme is divided into two phases.
In the first phase from now to 2020, more than 17,000 well-trained workers in health, electronics, telecommunications, information technology, mechanics, cooking and hotels will be sent to Germany, Japan and the RoK.
In the second phase from 2021 to 2025, more than 39,000 labourers trained in physics, informatics, cooking and sailing will work in these countries.
In addition, labourers will be sent to ASEAN countries and the United Arab Emirates to work in the beauty industry, hotel and restaurant services, engineering and construction.
Tong Hai Nam, deputy head of MoLISA’s Overseas Labour Management Department, said that total funding for the project was about 1.3 trillion VND (more than 57 million USD) from the state budget, loans from the Vietnam Development Bank and the Fund for Support of Abroad Employment Development.
"The state budget only plays a supporting role in policies and mechanisms, while the people who want to work overseas or schools that wish to participate in the project will borrow from the bank or fund," Nam told Thoi Bao Kinh Doanh (Business Times).
Meanwhile, the number of unemployed skilled labourers is increasing, but it is not easy to find a job abroad because training at home does not meet the requirements, experts say.
Nam said that it was necessary to adjust vocational training to match international standards.
"Next time, we will negotiate with host countries for recognition of qualifications and may receive their modules and training content to teach at home," Nam said.
Currently, the Republic of Korea, Japan, Malaysia and Taiwan are the markets with the most Vietnamese workers. By the end of June, Japan was the largest labour market with 5,755 employees, followed by Taiwan with 5,691 and the RoK with 818.
According to the Overseas Labour Management Department, in the first six months this year, the total number of Vietnamese laborers working abroad is 57,424, accounting for 54.69 percent of the 2017 plan, up 6.08 percent over the same period last year.
Under the plan, MoLISA aims to send 105,000 labourers to work in the RoK, Japan and Taiwan this year.
Besides these main markets, the ministry is trying to complete deals with Thailand, Laos, Malaysia and Australia to send more workers abroad.
It will continue to send nurses and hospital orderlies to Japan and Germany to work under agreements signed between Vietnam and the two countries.
According to Nam, the number of Vietnamese workers abroad has increased steadily over the past three years. Job skill demands have become tougher. Japan, the RoK and Germany are the most demanding markets.
Besides good health, labourers have to have other skills such as foreign languages and high professionalism, he said.
However, Nam also said that if Vietnam trains high quality labour, priority must be given to domestic use.