The Prime Minister has recently agreed with the investment policy for a project to establish the Fulbright University Vietnam (FUV) in Ho Chi Minh City. This will be the first American-styled non-profit private university in Vietnam. The key difference of the FUV model as compared to the existing Vietnamese private higher education system is that it enjoys the strong support of the U.S. and Vietnamese governments.
FUV will operate in a special financial mechanism with the investment of the Trust for University Innovation in Vietnam (TUIV). The Trust will take the lead in raising money from Vietnamese and American benefactors, including individuals, corporations, foundations, and donor agencies. FUV’s long-term financial viability will hinge on its ability to cultivate a diversified funding base that includes tuition, research funding, and endowment income. The FUV financial model will be based on four major pillars, including tuition, philanthropic contributions, research grants, and endowment revenues. FUV claims to embody the principles that are prerequisites for educational excellence: academic freedom, meritocracy, transparency, and accountability.
FUV will benchmark itself against the best by pursuing accreditation from U.S. accrediting bodies. Additionally, FUV will seek discipline specific accreditation. It will be laser-focused on recruiting talented Vietnamese scholars and scientists by offering a professional environment and individual incentives commensurate with those available in the U.S.
FUV will incorporate the Fulbright Economics Teaching Program’s (FETP) Master in Public Policy (MPP) which will continue to be a scholarship program. All MPP applicants will receive a full two-year scholarship that covers tuition fees. FUV will also offer master’s programs in management and technology and aims to expand to undergraduate and doctorate levels.
FUV’s new degree programs will be developed in cooperation with American academic partners and with the consultancy of the business community to ensure the quality and market relevancy of FUV’s curricula in order to meet the need of a skilled labour force of Vietnam’s economy.
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