On Monday Aberystwyth University and the Royal Veterinary College pledged to develop a joint training programme.
The venture will create a hub tailored to the needs of the Welsh farming and animal health industries.
Cabinet Secretary for Environment Lesley Griffiths said the move was "excellent news for Welsh farmers and the veterinary profession".
"Veterinary education for Wales has long been a topic of discussion and this is an ambition now being realised," she said.
"This collaboration between Aberystwyth University and the Royal Veterinary College will provide a much needed hub of veterinary expertise right in the heart of our longest established university."
Wales does not currently have any provision for veterinary education and the programme will focus on farming and livestock science, increasing the number of professionals in veterinary medicine.
Farmers' unions have said there are not enough vets to deal with sick farm animals in Wales.
Plans to bring a dedicated vet school to Wales have moved a step closer.