British University Vietnam (BUV) announced a $165 million campus expansion plan on Thursday ahead of the 50th anniversary of Vietnam-UK diplomatic relations.
The first phase of the expansion and part of the second phase have already been completed, and include the main hall, 24-hour library, classrooms, sports facilities, community spaces, and a food court. The second phase is scheduled for completion in early 2025 and the whole project is set to be completed in 2028.
Founded in 2009 with an initial investment of $36 million, the university now has 3,000 students. That number is expected to grow to 5,000 after the second phase is completed.
Speaking at the event, Deputy Minister of Education and Training Nguyen Van Phuc said the most important goal of foreign-invested universities in Vietnam is to deliver international quality courses to Vietnamese students and to enhance training quality. He added that the development of BUV is part of the cooperation between Vietnam and the UK in education.
Vietnam had attracted 525 foreign direct investment (FDI) projects in education with total registered capital of $4.4 billion as of the end of 2019, according to the Ministry of Education and Training. Educational services at different levels in Vietnam are offering opportunities for overseas funds and investors to tap into.
RMIT University Vietnam plans to expand its Saigon South campus in Ho Chi Minh City through a strategic investment fund of AUD250 million ($165.5 million).
In May, Teky Alpha, a Hanoi-headquartered educational technology startup, raised $5 million from Singapore-based impact investment firm Sweef Capital. The investment will support the expansion of Teky’s educational services in Vietnam’s public school system and after-school programs for children aged five to 18 years.
Also in May, Vietnam’s EQuest Education Group announced it had successfully raised $120 million through a combination of debt from creditors and equity from KKR, a global private equity giant that had already invested $100 million in EQuest.
EQuest said the latest proceeds will be utilized for investment in the Canadian International School System (CISS) in HCMC, and to expand its college and university operations, particularly the Broward College Vietnam campuses in Hanoi, Hue, and HCMC.
In April, MindX, an edtech startup focusing on technology training, raised $15 million in a series B funding round led by Singapore-headquartered private equity fund Kaizenvest.