Vietnam looks to lure more investment in education

Illustrative image (Photo: VNA)

Hanoi (VNA) – The Ministry of Education and Training on September 15 held a conference on cooperation and investment in education with the aim of mobilising social resources for education development in Vietnam.

In his opening remarks, Deputy Minister of Education and Training Nguyen Van Phuc said the education sector has already taken a series of measures and achieved important results in mobilising resources for education development.

Over 3,800 non-public educational institutions have been set up nationwide, he said, adding that Vietnam’s cooperation and investment policy for education has contributed to improving the quality of training and its ranking on the world education map.

To improve the quality of human resources training, meet the requirements of industrialisation, modernisation and international integration, the Vietnamese Government always encourages and creates favourable conditions for domestic and investors to invest in education and training development at all levels, he said.

The development of high-quality educational programmes in Vietnam helps attract not only Vietnamese students but also regional and international peers, he stressed, noting that there is great potential for investment in education in Vietnam.

Deputy Director General of the International Cooperation Department under the Ministry of Education and Training Nguyen Tien Dung said among the 3,800 non-public educational institutions, the number of foreign-invested establishments account for 17%.

As of December 31, 2021, Vietnam had 605 valid foreign-invested education cooperation projects with a total investment of over 4.57 billion USD, an increase of 321 projects and 3.5 billion USD compared to five years before. The projects are mainly concentrated in Hanoi and HCM City, accounting for 91.23% of the total registered capital.

At the university level, as of December 31, 2021, the country had 408 training cooperation programmes with foreign partners, including those from the UK (101 programmes), the US (59), France (53), Australia (37), and the Republic of Korea (27).  

Domestic educational managers and experts, and scholars from prestigious foreign institutions discussed ways to attract more investment and promote cooperation in the field during the conference.

Accordingly, to successfully invest in education in Vietnam, investors need to regularly update relevant legal regulations, conduct surveys on the demand of localities, and implement quality projects./.