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The Vietnamese government has agreed to spend a reciprocal capital amount of $20 million on building a new facility for the Vietnam-Germany University.

The information was disclosed by the Minister of Education and Training, Pham Vu Luan, at the university opening ceremony held in Ho Chi Minh City on October 6.

Students at the Vietnam-Germany University at a practising lesson

Construction of the new university, to be located on a 45 hectare site in Ben Cat District, in the southern province of Binh Duong, is scheduled for completion between 2016 and 2017. The training center is expected to attract around 5,000 students by 2020 from the current number of 100.

Currently, the university is situated on the 8th floor, covering 700 square metres at the University of Science in Ho Chi Minh City.

The World Bank (WB) pledged to fund $180 million for the university, including a $150 non-profit loan on a 40-year term.

The university will have a total investment of $200 million with $100 million planned for infrastructure, $50 million for equipment purchase and the rest for training the future faculty.

This is a major cooperative project between the Vietnamese government and Germany’s Hesse State and also the first public university project abroad of the latter.