Last updated: Wednesday, February 22, 2017
New Rules on Int’l Cooperation and Investment in EducationPosted: Friday, February 17, 2017
Ministry of Education and Training is drafting a decree on international cooperation and investment in education.
This draft stipulates international cooperation and investment in education and training, including joint training with foreign countries, the establishment and operation of foreign educational institutions, campuses of educational institutions with foreign capital and representative offices of foreign education in Vietnam.
The draft clearly states that joint training programmes with foreign partners and educational institutions of foreign investment in Vietnam must be periodically self-evaluated and have quality inspected according to current regulations of Vietnam.
Educational institutions with joint training with foreign countries, educational institutions of foreign investment and representative offices of foreign education must comply with the current regulations of the law of Vietnam on finance, accounting, auditing and taxation.
Foreign investors are allowed to purchase, transfer shares of the foreign educational institutions which have been established in Vietnam.
Forms of association include: Training directly under foreign programmes or programme built by the two parties; implementation of the entire programme in Vietnam or part programme in Vietnam and part overseas; granting diploma or certificate of Vietnam or foreign country or separate prescribed by each party.
The duration of joint training programme shall not exceed 5 years from the date of approval, and may be extended, each extension does not exceed 5 years. However, the duration of operation of foreign educational institutions does not exceed 50 years from the date of the establishment. In case of necessity, the Government will decide a longer term, but not more than 70 years.
According to the draft, the types of foreign educational institutions which are allowed to be established include: short-term training institutions; preschool; general educational institutions (elementary school, junior high school, high school, high school with multi-level); tertiary education institutions and campuses of higher education establishments with foreign investment capital in Vietnam.
However, provisions for capital of these projects are also clearly defined:
Second, investment projects for general education establishments must have investment rates of at least VND50 million/student (not including the cost of land). Total capital investment is calculated at least based on the time with highest training scale, but not less than VND50 billion.
Third, investment projects for short-term training institutions must have investment rates of at least VND20 million/student (not including the cost of land). Total capital investment is calculated at least based on the number of students at the time of the highest training scale.
Fourth, investment projects for higher education establishments must have a total minimum investment of VND1 trillion (excluding the value of land for school construction), investment capital is determined in cash and property which are prepared to invest and confirmed by competent authorities in writing.
In addition, the investment project for opening campuses of foreign educational institutions must have investment rates and investment capital at least equivalent to the provisions for the establishment of higher education establishments. For foreign educational institutions which do not build new facilities or use the facilities of Vietnam, the investment capital is at least to reach 70 percent of the prescribed level of educational levels.