Massive startup costs lead investors to search for existing universities to buy Universities in Vietnam are being offered for sale at record prices following a recent government decree that raised the minimum charter capital for opening a new university to VND1 trillion (US$44.05 million). In 2009, investors only needed VND50 billion ($2.2 million) in charter capital to establish a private university. This means that in just eight years, the required capital investment to open a new university in Vietnam has increased by 20 times. To avoid pouring so much money into such a risky venture, investors are now hunting for existing universities to acquire, massively inflating the valuation of universities. University rush T., one investor who already owns a number of colleges, said he had been looking to buy a university for months without success. “It costs too much and takes too long to open a new university,” T. said. “Buying an existing one is much more convenient. However, universities that sold for, say, VND300 billion [$13.22 million] in the past are now demanding double that.” A university in southern Dong Nai Province has put itself up for sale at VND600 billion ($26.44 million), and has already refused offers from… Read full this story
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