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Nearly $43mil. needed to open foreign university in Vietnam

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New Decree 86 on foreign investment and co-operation in education states that investors need at least VND1trn (US$42.90m) in capital in order to set up a university in Vietnam.

Nearly $43mil. needed to open foreign university in Vietnam, Vietnam education, Vietnam higher education, Vietnam vocational training, Vietnam students, Vietnam children, Vietnam education reform, vietnamnet bridge, english news, Vietnam news, news Vietna

The FDI investors must prove their financial ability in accordance with the laws and the investment value must be over VND500bn (USD6,700). 

The requirements have been tightened. According to previous regulations, the institutions must invest at least VND150m per student excluding land costs, with a total minimum investment of not less than VND300 billion (USD13.5m).

Opening a new branch of a foreign university requires a minimum of VND250bn capital, excluding land cost.

The investors are only required 70% of the minimum capital in cases they don't have to build their own facilities on land or have their Vietnamese partners contribute facilities and equipment.

Requirements for lecturers are also tightened as they must have master degrees. Not less than 50% of the lecturers must have doctorate degrees excluding specific fields decided by the Ministry of Education and Training. In the previous regulations, only 35% of the lecturers need doctorate degrees.

The maximum ratio of students to teachers is 10 students per teacher in fine arts faculties, 15 in science and technology faculties and 25 in other faculties.

The degree will take effect from August 1.

 

 

Source: Vietnamnet/Dtinews

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