Government sets conditions for foreign investors in vocational schools
Foreign investors should have at least VND100 billion (USD4.4million) in capital in order to establish a vocational college in Vietnam according to a new government decree.
Students at a vocational college in Vietnam. Photo for illustration
The investor would also need to possess at least VND5 billion (USD217,000) in investment capital to open a vocational training centre, and VND50 billion and VND100 billion to open a secondary-level vocational training school and vocational college, respectively.
Institutions would also need to make sure that their Vietnamese students would be taught obligatory subjects as per regulations by the Ministry of Labour, Invalids and Social Affairs.
The decree also specifies the conditions for the establishment of a branch or another campus of a foreign-invested secondary-level vocational schools and colleges, which include a detailed project to establish said branch, with statements clarifying the necessity for such establishment; the name and scope of operation of the branch; a development plan, the planned vocational fields and subjects.
Investors who wish to establish another branch of vocational training institution would need to present a contract or agreement on the lease of infrastructure and facilities for minimum five years, with its investment capital reaching at least 25 per cent of the capital required to establish full-fledged vocational training institutions of corresponding levels mentioned above.
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