Investors need $45 million to set up foreign university

The draft decree on international cooperation in education from the Ministry of Education and Training says investors must have at least VND1 trillion (US$45 million) in capital to set up a university in Vietnam, reports VietNamNet Bridge.

Under the current regulation, investors must spend a rate of VND150 million (US$6,500) per student, not including expenses on land use rights. The minimum capital must not be lower than VND300 billion. If the draft decree is approved, the minimum required capital will be raised to VND1 trillion. Regarding the requirements on teaching staff, lecturers must have at least a masters degree, while the number of lecturers with doctorates must not be lower than 50% of total lecturers, instead of 35% as stipulated in the current regulation.

Regarding the requirement on US$45 million capital, Nguyen Dang Vang, director of the International Cooperation Department in the Ministry of Education and Training, said this was a reasonable required investment rate to ensure the quality of university training. In fact, to have high training quality, the investment rate should be much higher. The Vietnamese-Germany University has the investment capital of US$200 million, or four times higher than the required capital.
Full report on the VietNamNet Bridge site