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Foreign capital poured into education in Vietnam

With a surge in capital contribution and share purchase, foreign capital investment in education in Vietnam rose by nearly 58 percent to 78.89 million USD in the first nine months of this year despite the COVID-19 pandemic, reported the Ministry of Planning and Investment’s Foreign Investment Agency.
Foreign capital poured into education in Vietnam ảnh 1At a Wall Street English centre (Photo: Internet)
Hanoi (VNA) – With a surge in capital contributionand share purchase, foreign capital investment in education in Vietnam rose bynearly 58 percent to 78.89 million USD in the first nine months of this yeardespite the COVID-19 pandemic, reported the Ministry of Planning andInvestment’s Foreign Investment Agency.

Among 15 countries and territories investing in education inVietnam, the British Virgin Islands took the lead with 23.68 million USD invalue, or 30 percent of the total, followed by the Republic of Korea, the USand Singapore.

According to the Vietnam Investment Review, the DiamondCrest Global Limited from the British Virgin Islands poured 17.6 million USDinto an international education company based in Hanoi in May.

The Singapore-based MS English 2 Pte. Ltd, which is wholly ownedby Myanmar Strategic Holdings Co. Ltd. also purchased Wall Street English Co. Ltd.in Ho Chi Minh City in July after two months of negotiations.

Notably, the Wall Street English still incurred a loss of1.4 million USD while its unaudited revenue in the past 12 months reachednearly 13.8 million USD and total asset hit 3.4 million USD as of April 30.

Commenting on the Wall Street English Vietnam, CEO of theMyanmar Strategic Holdings Enrico Cesenni said the Vietnamese company has over6,000 clients in seven centres in Ho Chi Minh City and Binh Duong.

Such centres will continue working under a 10-yearfranchise deal with the Wall Street English International, similar to the dealapplied for Wall Street English Myanmar./.





VNA
#foreign capital investment #Vietnamplus #Vietnam News Agency #capital contribution #share purchase #British Virgin Islands Vietnam

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