Vocational Education and Training. 

This is a term used in Australia to refer to programs that are aimed at trades or skills-based vocations. For example, an electrician would undertake a VET course in order to become an electrician and would learn the skills during the process, but a lawyer would not. VET courses can be delivered through schools, universities, TAFEs (Technical and Further Education providers) or RTOs (Registered Training Organisations). 

VET courses can start from Cert I (basic skills) and go all the way up to Advanced Diploma level. (The order goes Cert I, Cert II, Cert III, Cert IV, Diploma, Advanced Diploma) 

Virtual Machine usually called a VM is a self-contained application environment which acts as dedicated hardware.