HANOI, Feb. 18 (Xinhua) -- The Vietnamese government has issued a series of conditions for establishing foreign-invested vocational training institutions in Vietnam, local media reported on Monday.
According to a governmental decree, which will take effect on March 20, an investor needs to make sure to obtain at least 1,000 square meters of land for a basic vocational training center; 10,000 square meters for a secondary-level vocational training school in urban areas or 20,000 square meters if the school is located in the suburbs or rural areas; 20,000 square meters for college-level vocational training schools in urban areas, or 40,000 square meters outside urban areas, the Vietnam News daily reported.
The investor also needs to possess at least 5 billion Vietnamese dong (217,000 U.S. dollars) in investment capital to open a vocational training center, and 50 billion Vietnamese dong (nearly 2.2 million U.S. dollars) and 100 billion Vietnamese dong (over 4.3 million U.S. dollars) to open a secondary vocational training school and vocational college, respectively.
According to the Vietnamese Ministry of Planning and Investment, the number of foreign-invested education projects has surged to 374 by the end of 2017 from 111 in September 2012.
