With a culture that emphasizes action and flexibility in management, universities like VinUni can better meet the needs of high-quality education and be relevant to the labor market.

The trend of multinational corporations entering the higher education sector is increasing. According to Times Higher Education, this trend has become evident over the past decades with the emergence of many universities founded and funded by large corporations.

Some notable examples include Pohang University of Science and Technology (POSTECH) in South Korea, founded in the 1980s by the Pohang Steel Corporation, Petronas University of Technology in Malaysia founded by Petronas Oil and Gas Group, and one of the most recent newcomers, VinUni, invested in by Vingroup - Vietnam's leading multi-industry corporation.

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VinUni University - the first elite and private non-profit university in Vietnam, located in Vinhomes Ocean Park urban area (Gia Lam, Hanoi)

Vingroup established VinUni with the goal of becoming an excellent university, with the mission of training talents for the future. The school has established strategic partnerships with Cornell University and the University of Pennsylvania, demonstrating its commitment to excellence, innovation in research and teaching as well as making a difference in the world.

Times Higher Education notes that opening a university does not usually generate much profit for a business. However, businesses can be motivated by other factors.

"These prestigious universities are truly among the best universities, and the most advanced educational institutions in their countries," said Professor Emeritus Philip Altbach of the Center for International Higher Education at Boston University (USA).

According to professors and doctors at these universities, the highlight of the university model established by enterprises lies in its flexibility and superior efficiency compared to traditional public universities.

“Freed from bureaucracy, these universities can focus on their core mission,” Times Higher Education commented.

A typical example is VinUni University. This magazine quoted Professor David Bangsberg, President of VinUni University, saying that the culture here emphasizes action.

“The construction team at VinUni completed the work with a speed and efficiency that I have never seen before. The entire campus, an impressive architectural work, was built in just 14 months. By comparison, a new public health school project in the US that I participated in took up to 5 years to build a building,” Mr. Bangsberg cited.

“Working closely with a reputable multinational corporation, we have access to advanced financial accounting and management methods. That is a great thing,” Mr. Bangsberg added.

Some scholars believe that universities with business roots have an advantage in training students who are adaptable to work, due to their close connection to practice and the labor market.

“In general, business-led universities are highly regarded in middle-income countries where public education systems can be constrained. With their strong financial resources and management flexibility, they can better meet the demand for high-quality education that is relevant to the labour market,” Times Higher Education commented.

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Professor, Doctor David Bangsberg - the world's leading medical scientist takes on the role of Principal and Director of the Institute of Health Sciences, VinUni University

According to the British magazine, VinUni has emerged as a typical example of efforts to ensure sustainability. Professor David Bangsberg said that VinUni is implementing a comprehensive strategy including diversifying revenue sources, strengthening cooperation with businesses and attracting funding for research.

“Our entrepreneurial spirit extends to the university,” says Bangsberg. “Our biggest challenge is to build an airplane on the fly, which is to prioritize flexibility and urgency over pre-planned implementation.”

Phuong Cuc