Project to establish a foreign-invested college must have at least vnd 100 million
On May 15, 2015, the Government issued the Decree No. 48/2015/ND-CP detailing a number of articles of the Law on Vocational Education. One of the most significant contents is content on conditions for investment licensing for a foreign-invested vocational education institution.
Specifically, an investment project to establish a foreign-invested vocational intermediate school or college or to open a branch of a foreign-invested intermediate school or college must have an investment rate of at least VND 100 million per learner (excluding land use expenses). The total minimum investment capital shall be calculated based on the time of reaching the biggest training scale, which must be at least VND 100 billion. An investment project to establish a foreign-invested vocational education center must have an investment rate of at least VND 60 million per learner. For a foreign-invested vocational education institution whose physical foundations are rented or are contributed as capital by the Vietnamese party for operation, the investment rate must reach at least 70% of the rate prescribed.
For physical foundations, the construction area must average at least 25 m2 per learner, for an intermediate school or a college, or 4 m2 per learner, for a vocational education center at the time of reaching the biggest training scale as planned; education institution must have dormitories, clubs and canteen and technical, heath, recreational, sports, cultural facilities and toilets for the school’s staff, teachers and students… A foreign-invested vocational education institution registering to operate in Vietnam for 20 years or more shall plan the construction of its physical foundations and obtain the provincial level People’s Committee’s approval of land allocation or lease for construction. A foreign-invested vocational education institution registering to operate for less than 20 years is not required to build its own physical foundations but must have a five-year or longer-term contract or agreement on rent of appropriate school building, classrooms, workshops and auxiliary areas.
A foreign-invested vocational education institution must have adequate permanent teachers to take charge of at least 60% of the content of the training program of a specialization or an occupation. The rate of teachers holding a postgraduate degree must reach at least 15% of the total number of teachers of an intermediate school or college.
This Decree takes effect on July 1, 2015.