Education News

ADB: New university to help Vietnam become industrialized nation

May 3, 2011, 8:05 GMT

Hanoi - A new university project could provide a model for driving growth in Vietnam, the Asian Development Bank (ADB) said Tuesday.

The ADB said it was providing 190 million dollars in loans to set up the University of Science and Technology in the capital. The French government is to provide 100 million euros (148 million dollars) over 10 years and the Vietnamese government 23 million dollars.

The institution will support research, technical innovation and skills development, the bank said.

'As the Vietnamese economy evolves, innovation and technical skills are expected to play an increasingly important role in driving growth and development,' Norman LaRocque, the ADB's senior education specialist for South-East Asia, said.

'This new model university will support this by providing industry-relevant science and technology teaching and research,'

The announcement was made during the bank's 44th annual meeting, held in Hanoi this year and due to wrap up on Friday.

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