New regulations for foreign-invested vocational training institutions

According to information from the Government Office, the Government has just issued a Decree detailing a number of articles of the Law on Vocational Education. The Decree clearly stipulates the time, investment capital, and material conditions for operation of foreign-invested vocational education institutions.

(Illustration photo: Quy Trung/VNA)

Accordingly, depending on the level of the center or intermediate school or college, the required level of investment capital is different.

Specifically, for investment projects to establish vocational education centers with foreign investment capital, investment projects applying to open branches of foreign-invested vocational education centers must have an investment rate of at least 60 million VND/student (excluding land use costs).

The total minimum investment capital is calculated based on the number of full-time students at the time of the highest expected training scale.

If it is a secondary or college level, the minimum investment is 100 million VND/student (excluding land use costs). The total minimum investment capital is calculated based on the time when the highest training scale is expected, but not less than 100 billion VND.

For vocational training institutions with foreign investment that do not build new facilities but only lease or have the Vietnamese party contribute capital with existing facilities to carry out activities, the investment level must reach at least 70% of the above prescribed levels.

In addition to regulations ensuring capital conditions, the Decree also stipulates conditions for school facilities, libraries, dormitories, etc. Schools registered to operate in Vietnam for less than 20 years can rent facilities, but if over 20 years, they must have a plan to build schools.

The term of operation of a foreign-invested vocational training institution shall not exceed 50 years, calculated from the date of establishment. In the case of a foreign-invested vocational training institution established in an area with difficult socio-economic conditions, the term may be longer, but not more than 70 years./

According to Vietnamplus