On October 05th, 2024, the Government issued Decree No. 124/2024/ND-CP, amending and supplementing several articles of Decree 86/2018/ND-CP regulating foreign investment cooperation in the education sector (“the Decree”), with several notable points as follows:
– Adding Clause 3 to Article 5 of Decree 86/2018/ND-CP regarding financial conditions for foreign investment cooperation as follows:
+ Educational institutions or economic organizations, after foreign investors contribute capital, purchase shares, or purchase capital contributions, must meet the market access conditions for foreign investors as stipulated by the Investment Law, the conditions for establishing foreign-invested educational institutions in Decree No. 86/2018/ND-CP, this Decree and conditions related to financial obligations regarding land rent payments for the remaining land rent term (if any), and related taxes and fees by the land law on land during the implementation operation of the educational institution.
– Amending Article 6 of Decree 86/2018/ND-CP, clarifying and expanding the subjects of educational partnerships to include:
+ On the Vietnamese side: Private preschools and private general education institutions invested by domestic investors and ensuring operational conditions, established and operated in Vietnam.
+ On the foreign side: (i) Educational institutions legally established and operating abroad, with at least 05 years of operation abroad up to the date of application submission, and not violating the laws of the host country during the period of operation, offering direct teaching, and holding a valid education quality accreditation certificate or being recognized for educational quality by a competent foreign educational authority or organization; (ii) The organizations providing educational programs legally established and operating abroad, with at least 05 years of operating in providing preschool or general education programs up to the date of application submission for educational partnership.
– Amending and supplementing Clause 2 of Article 17 of Decree 86/2018/ND-CP, specifying that foreign training programs implemented in Vietnam must ensure the following requirements:
+ It must be a training program of a foreign higher education institution, authorized by a competent authority in that country to offer training and award degrees or hold a valid quality accreditation certificate issued by a legal quality accreditation organization.
+ The content must not harm national defense, national security, or public interest; do not promote religion, distort history; or negatively affect Vietnamese culture, morality, and customs.
This Decree takes effect from November 20th, 2024.
