An extraordinary general body meeting of the Hoa Sen University was called last Tuesday to discuss the implications of Nguyen Hoang Corporation acquiring a large stake in it. Nguyen Hoang is an education group. Given the scale of the transaction and the fact that Hoa Sen has become a prestigious, well known university in the country, the acquisition has stirred much debate and dispute in the education sector. Some are wary of education being treated as just another business, and worry about the impact it will have on the quality of education and the original orientations of the universities. Others argue that this is not a bad thing, that it is normal commercial activity that can have beneficial impacts. According to experts, Hoa Sen carries a value of around VND2 trillion ($85.6 million) with modern facilities, many students, good reputation and decent growth momentum. Although it has experienced temporary internal disputes and devaluations, the university is still one of the educational institutions in Vietnam with high revenues from student fees. Hoa Sen is one of several private universities in Vietnam that have experienced ownership transfers in recent years. Many corporations with strong financial reserves are investing millions to acquire universities and colleges in the country. Easier path to ownership Experts say that sale and acquisition of private university stocks have boomed in Vietnam over the past few years, because buying shares in an operating university is far easier than establishing a new one. Economist Tran Vinh Du told the Thanh Nien… [Read full story]
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