Members of the Australian Technology Network of Universities (ATN) have again demonstrated their excellence in transnational education with RMIT University’s AU$ 250 million commitment to Vietnam, providing further evidence of their leadership in this field.
The strategic investment in RMIT University’s Hanoi Industry and Innovation Hub, which received praise from the Executive Director of the Australian Technology Network of Universities (ATN), exemplifies the significance of strong international partnerships such as the one with Vietnam.
The AU$ 250 million commitment, announced by the Prime Minister of Australia, highlights RMIT’s dedication to delivering high-quality Australian education to its Vietnam campus. The establishment of the innovation hub, led by the RMIT Vice-Chancellor and his team, will serve as a crucial gateway between the two countries, reinforcing the enduring friendship and cooperation in the region.
The substantial fund allocation will also be used for investments in education, research, partnerships, and campus infrastructure. As the foremost international university in Vietnam, RMIT’s contributions align with the nation’s social and economic objectives, emphasising its commitment to supporting the country’s growth and development.
Established in 2000, RMIT Vietnam was the first foreign-owned international university in the country. As part of its Country Commitment to Vietnam, RMIT aims to foster collaboration among the communities, government, and industries in Hanoi. This commitment focuses on key priorities such as smart and sustainable cities and emerging technologies, demonstrating RMIT’s dedication to supporting and advancing these important areas of development in Vietnam.
The transformative power of education extends to individuals, communities, and economies, according to the RMIT Vice-Chancellor. As the largest higher education institution in Australia operating within Vietnam, RMIT is proud of its role as a leading provider of international education in the country. Over the course of 23 years, RMIT has made significant contributions to Vietnam, reflecting its commitment to the nation’s progress and development.
The investment holds particular significance as it aligns with the 50th year of diplomatic relations between Australia and Vietnam. The commitment made by RMIT will serve as a crucial factor in advancing the objectives of the Australia-Vietnam Enhanced Economic Engagement Strategy, which aims to double two-way investment between the two nations. This investment showcases RMIT’s dedication to fostering stronger economic ties and collaboration, contributing to the growth and prosperity of both Australia and Vietnam.
Australia-Vietnam Enhanced Economic Engagement Strategy
In August 2019, Vietnam and Australia reached an agreement to establish an Enhanced Economic Engagement Strategy. The objective of this strategy is to strengthen their trade partnership and double two-way investment, aiming to become one of their top ten trade partners.
By enhancing trade and investment liberalisation, promoting economic connectivity, and capitalising on emerging market opportunities, the strategy reinforces the mutual commitment of both countries. In light of the economic challenges and uncertainties posed by the COVID-19 pandemic, the governments of Vietnam and Australia have recognised the need to include an emphasis on economic recovery within the strategy.
RMIT University’s substantial investment in Vietnam’s education, research, partnerships, and infrastructure serves as a testament to the institution’s commitment to excellence and leadership in transnational education. This investment not only strengthens RMIT’s position as Vietnam’s leading international university but also aligns with the shared goals of Australia and Vietnam to enhance economic engagement and foster bilateral trade and investment.
As the two countries celebrate their 50th year of diplomatic relations, RMIT’s commitment will play a pivotal role in realising their ambitions of becoming top trade partners and doubling two-way investment. With a focus on economic recovery in the face of challenges brought by the COVID-19 pandemic, RMIT’s investment stands as a symbol of resilience and collaboration, contributing to the social, economic, and technological advancement of both nations.
