Da Nang expedites establishment of int’l financial institute, facilitated by Australian university

Authorities in central Vietnam have accelerated the foundation of a not-for-profit international financial institute, a project in cooperation with the University of New South Wales in Australia

Vice-chairman of the Da Nang People’s Committee Dang Viet Dung (R) and Prof. Bohul Zhang, deputy director of the Institute of Global Finance under the University of New South Wales

During a working session with a visiting delegation from the Australian university on Friday last week, Vice-chairman of the Da Nang People’s Committee Dang Viet Dung praised the idea of setting up the institute in the central Vietnamese city.

The facility will operate under a non-profit model, solely aimed at improving the quality of higher education and facilitating international standard research in finance in the Southeast Asian country.

Vice-chairman Dung requested competent agencies to continue discussing with and assisting the University of New South Wales in the project by reviewing the feasibility report and figuring out specific ways to execute the plan quickly.

According to Prof. Bohul Zhang, deputy director of the Institute of Global Finance under the management of the Australian university, the future institute is expected to offer financial training courses to state officials, public servants, and local business and community leaders.

The institute will also conduct extensive study in finance and analysis on financial policies under the supervision and quality management of an international advisory council.

It is anticipated to offer training to 100 students per year, with courses lasting from one month to two years.

The average tuition fee for each learner is estimated at US$15,000 per annum. The institute will strive to be financially independent, following a non-profit model similar to that of Fulbright University Vietnam.

The advisory council will include professors and researchers from credible universities, namely Harvard, Stanford, London Business School, and organizations such as World Bank, Asian Development Bank, and several others.

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