$360 million project gets underway in Hanoi.
Construction of the Viet Nhat University project officially began on December 20 at the Hoa Lac High-Tech Zone in Hanoi.
Total investment capital stands at $365 million, including loan capital from Japanese official development assistance (ODA) of $200 million, sponsorship capital from Japanese enterprises of $100 million, and reciprocal government capital of $65 million.
The project, which was announced by President Truong Tan Sang during his visit to Japan in February, is backed by leaders of the two countries. It targets to combine the university and enterprises with the aim of becoming a major education center in the region and is expected to be completed in 2020.
Speaking at the breaking ground ceremony, Deputy Prime Minister Vu Duc Dam said that Viet Nhat University will play an important role in developing high quality human resources and contribute to strengthening the strategic partnership between Vietnam and Japan. He also stressed that the Hanoi People's Committee and authorities in both countries must coordinate closely to ensure quality and project progress.
Viet Nhat University will concentrate on training in scientific fields, including nanotechnology, environmental technology, infrastructure and technical applications, space science, and public policy targeted towards sustainable development.