On the afternoon of March 30, Ms. Nguyen Thi Ut Em, President of the American International School (AIS) Board of Directors, held a meeting with all parents about the school's upcoming operation plan. The meeting was attended by representatives of relevant agencies including the Ho Chi Minh City Department of Education and Training, Ho Chi Minh City Police...
At the beginning of the meeting, an officer from the Internal Political Security Department of Ho Chi Minh City Police said that the information that Ho Chi Minh City will "spend money" to help solve the school's financial difficulties is incorrect.
Currently, the school investor is no longer financially capable. The authorities are closely monitoring all activities of Ms. Nguyen Thi Ut Em, including banning her from leaving the country until the case is resolved.
In recent negotiations between the school owner and investors, no specific solutions have been proposed. The school representative said that the school is unable to pay its financial obligations due to having to cover a portion of the tuition fees.
Ms. Ut Em proposed to ask for support from parents on a short-term plan from now until June 2024.
In the long term, the solution that Ms. Ut Em proposed is to equitize the enterprise, parents pay money in the form of a capital contribution contract and receive equivalent share value.
For previous loans, parents in need will convert the value of money into shares. If parents do not agree, when the school sells the shares, it will return them to the parents.
The parties believe that the equitization plan is feasible in current conditions, but it is necessary to develop a detailed plan and specifically calculate the contributions of parents and investors.
Finally, Ms. Ut Em apologized to parents for the scandals that occurred at the American International High School. She said that she would open an account for parents to contribute, the account will be managed by the state. It is estimated that the provisional budget to maintain learning activities for students from April 1 to the end of the 2023-2024 school year is 125 billion VND.
Also at the meeting, many parents asked the school to publicly disclose the debts, however the school representative did not give a specific figure.
A leader of the HCM City Department of Education and Training said that 125 billion VND is the school's preliminary calculation. If the contribution is made, parents will be the ones to supervise this fund, and the authorities will send people to support.
"In the immediate future, we need to find a way for students to return to school as usual on April 1. The option of parents paying to maintain school operations until the end of the school year is considered optimal in the current context, because if they transfer schools, parents will also have to pay tuition at the new school," said a representative of the Ho Chi Minh City Department of Education and Training.
The voting results at the end of the working session showed that the majority of parents agreed with the plan to pay more money to maintain operations.
Previously, in a report sent to the Government, the Ho Chi Minh City People's Committee said that the city will suspend enrollment for the 2024-2025 school year at the American International High School until the investor resolves financial and personnel issues and stabilizes teaching.
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