Funding Methods for Educational Institutions

09:22, 11/07/2024

The Ministry of Education and Training has just promulgated Circular No. 16/2018/TT-BGDDT stipulating sponsorship for educational institutions within the national education system. The forms of sponsorship for educational institutions are regulated as follows:

Monetary Sponsorship: Sponsors will transfer an amount in Vietnamese dong or foreign currency, diamonds, gemstones, precious metals directly to the educational institution or through the account of the educational institution opened at the state treasury or commercial bank.

In-kind Sponsorship: Sponsors will transfer to the educational institution items such as books, notebooks, clothes, food, materials, equipment, teaching tools, construction works, and other usable items that meet the practical needs of learners and educational institutions.

For the form of sponsorship through construction works, the appraisal, approval of technical designs and total estimates, issuance of construction permits, project quality management, acceptance, handover, warranty, and insurance of construction works shall be carried out in accordance with the prevailing laws on construction investment.

Non-material Sponsorship: Sponsors will transfer or grant the right to use intellectual property assets without charge; land use rights; contribute labor; provide free training services, study tours, surveys, seminars, and consultancy experts to the educational institution.

Source: Binh Phuoc Online Newspaper

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