Vietnam: The financial mechanism of state-owned education accreditation organizations shall be operated according to that of public service provider

Specifically, according to Article 15 of the Regulations on conditions for the foundation and dissolution, missions and rights of the education accreditation organization promulgated together with Circular No. 61/2012/TT-BGDĐT of the Ministry of Education and Training of Vietnam, the funding source of the education accreditation organization founded by the State shall include:

- Funding provided by the State:

+ The investment funding for basic construction, reciprocal capital, funding for purchasing equipments and repairing fixed assets shall be allocated in the scope of the cost estimate of budget expenditure approved by the competent authority;

+ The funding for undertaking missions of education accreditation ordered by the State;

+ Regular operating funding: The regular operating subsidy from the State Budget shall not be provided for more than 3 first years of foundation depending on the cost estimate of state budget assigned by the competent authority each year;

- Non-business revenue sources: earning from fees as regulated; the activity of external evaluation for educational facilities and programs; consideration and recognization of educational facilities and programs meeting the standard of education quality; the organization or involvement in domestic and international activities of education quality evaluation and other non-business revenue (if any);

- Sponsor capital, subsidy, presents from domestic and international organizations and individuals;

- Other legal funding sources in accordance with regulations of the law (if any);

- The financial mechanism of state-owned education accreditation organizations shall be operated according to that of public service provider in compliance with regulations of the Government and in consideration of the feature of education accreditation organization for the purpose of particularly regulating its financial mechanism in line the reality.

Note: The funding source of non state education accreditation organizations shall include the source of operating funding of the organization through capital contribution of organizations and individuals and other legal funding sources as regulated. Non state education accreditation organizations shall use the same financial mechanism as that of private facilities doing business in the sector of education and training as regulated by the Government.

View more provisions at Circular No. 61/2012/TT-BGDĐT of the Ministry of Education and Training of Vietnam, effective from February 15, 2013.

Le Vy

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