Giggs enjoyed a spell as temporary manager at Old Trafford, before becoming number two to former boss Louis van Gaal after the end of his glittering playing career.
However, since ending his lengthy association with the Red Devils, Giggs has not received another coaching role - despite being linked with several positions, including most recently at Leicester City and Everton.
Giggs will now begin his role at Promotion Fund of Vietnamese Football Talents FC (PVF) on November 20.
A statement on the academy's website said Giggs' responsibilities will include "coaching players, training coaches and participating in building and developing PVF to become the leading youth football training centre in Vietnam, in line with the famous football academies across the world."
Giggs' former United team-mate Paul Scholes has also been tipped to take on a role, with both set to be in attendance for the opening ceremony of PVF's training centre.