Decision 63/2011will take effect on December 26.
The regulation dictates that private-university principals and vice principals must meet the requirements of the education law, and must not be a State employee or over the age of 70.
The amended law also dictates that to set up a private university, at least three organisations or individuals must contribute a maximum of 51 per cent of the total cost.
The new regulation does not limit the number of private universities that an individual shareholder may contribute capital to, a change from the previous regulation which fixed the number at no more than two.
Provincial People's Committees have been assigned the task of authorising the appointment of private university principals and board chairmen. Under the 2009 regulation, the Ministry of Education and Training was responsible for this task.
There are currently 412 colleges and universities including 77 private universities nation-wide.
VietNamNet/Viet Nam News
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