Regulations on foreign invested vocational training institutions defined

Accordingly, projects on establishing vocational training centers with foreign capital or branches of foreign invested vocational training institutions must invest at least VND60 million (US$2,760) per student, not including land use costs. The total investment is calculated on the number of full-time students at the largest planned training scale.

 Projects on founding foreign invested colleges and vocational schools, as well as their branches, must invest at least VND100 million (US$4,600) per student, not including land use costs. The total investment is calculated at the largest planned training scale and not lower than VND100 billion (US$4.6 million).

 For those which do not invest in new facilities but hire or use existing facilities of Vietnamese shareholders, the minimum investment must be 70% of the above-mentioned regulated amounts.

 The decree also defines conditions for the area for construction, the number of classrooms, halls, offices, administrative quarters, libraries, dormitories and training facilities.

 Foreign invested vocational training institutions registering their operation over 20 years in Viet Nam must have a plan on developing their facilities and their land use should be approved by the provincial People’s Committees.

 If the operation is under 20 years without facility construction, contracts or agreements on hiring facilities stably on appropriate areas should be made for at least five years.

 Regarding operation duration, the decree regulates that the institutions can operate within 50 years from the approved date of establishment. For those established in disadvantaged regions, the Government will decide on longer duration, but not over 70 years.

 (Source:VGP)

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