Vietnam Releases Legal Document on Foreign Investment in Education

By Dezan Shira & Associates

Posted: 31st October 2012 10:00

Decree No. 73/2012/ND-CP regarding education management for foreign cooperation and investment was promulgated in September. Accordingly, the forms of foreign investment allowed in education include 100 percent foreign-capitalized educational institutions and associated educational institutions between domestic investors and foreign investors.
 
Foreign investors can conduct their investment project by establishing one of five permissible forms of foreign-capitalized educational institutions:

 
Under these forms of foreign-capitalized educational institutions, Vietnamese students under five years old are not allowed to be admitted to study abroad program. Additionally, Vietnamese students in elementary and secondary school shall not exceed 10 percent of the students of the school, and in high school shall not exceed 20 percent of total number of student of the school.
 
The Decree also defines the requirements regarding investment capital for investors. Specifically:

 
Additionally, there are other conditions in place concerning facilities, education programs and teaching staff. Above all, projects of investment in establishing the educational institution must be in conformity with the socio-economic development and the educational institution network planning approved by competent State agencies.
 
This Decree takes effect on November 15, 2012.
 
 
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.
 
For further details or to contact the firm, please email info@dezshira.com or visit www.dezshira.com

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