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Owners of kindergartens rush to sell schools due to prolonged COVID-19 outbreak in Vietnam

Owners of kindergartens rush to sell schools due to prolonged COVID-19 outbreak in Vietnam

Wednesday, August 04, 2021, 08:13 GMT+7
Owners of kindergartens rush to sell schools due to prolonged COVID-19 outbreak in Vietnam
Students have their meals at a kindergarten in Ho Chi Minh City. Photo: Thao Thuong / Tuoi Tre

Many owners of private kindergartens in Vietnam have been trying to sell their schools after they ran out of money to maintain their operations following a prolonged shutdown due to the COVID-19 pandemic.

A Facebook group has even been established to facilitate the sale of private kindergartens in many localities.

A user named N.C. stated in his post that he wanted to transfer the ownership of a preschool in southern Binh Duong Province due to the pandemic.

“The venue was licensed in August 2020," C. elaborated.

"About 30 students were learning at the school prior to the outbreak, with monthly tuition at VND2 million [US$87].”

Another Facebook account named Ngoc Linh said she had managed to survive the previous three waves, but can no longer maintain the operation of her kindergarten due to the current round.

Linh stated that the school was officially open in October 2019, adding that she has spent over VND1.5 billion ($65,300) on it so far.

She also offers to liquidate all equipment and tools inside the office, classrooms, and playground, along with air conditioning and CCTV systems at cheap prices.

Similar to Linh, N.T.H.P., who owns a preschool in Ho Chi Minh City, said she has been paying rental fees over the past months even though the venue was closed due to COVID-19.

“I don’t know when the kids are able to come back," P. said.

"I have no other choice but to sell my school.”

N.T.U., who runs a network of seven kindergartens in several districts in Ho Chi Minh City, considered herself among the luckier as she is still able to keep her facilities.

“A lot of my peers have run out of money to maintain the operations of their schools,” U. elaborated.

“One of them told me he had to spend up to VND200 million [$8,700] covering monthly rental fees, teachers’ salary and insurance, as well as interest on his bank loan.”

After failing to sell the school, he eventually gave up and let the landlord take all equipment to pay his debt, U. stated.

Vietnam is struggling with the fourth and worst COVID-19 outbreak, with 170,563 local infections recorded in 62 provinces and cities since April 27.

Social distancing measures have been implemented across the nation, while students are required to stay home as part of pandemic prevention and control efforts.

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