To identify the necessary competencies for student-teachers majoring in Chemistry, 50 chemistry professors, educational experts, and high school chemistry teachers ranked a set of competencies derived from available sources and based on the elements of the goal setting model in learning. These consisted of thinking, effective communication, management, entrepreneurship, life-long learning, and development of scientific-technological literacy. Furthermore, based on the ministerial documents on expected competencies, five constituents consisting of knowledge, attitude, skill, ability, and personal characteristics were also identified. Employing the entropy based TOPSIS method these competencies and constituencies were ranked and the results show that the most necessary competencies and constituencies are knowledge and entrepreneurship. Thinking and life-long learning, as well as effective communication and management approach the ideal. Results could help with the accomplishment of the country’s educational goals as related to the competency-based education of Chemistry student-teachers.