The memorandum acknowledges the basic principles of the cooperation between the two parties for implementing the investing in and the developing of a part of VNU’s modern university town in Thạch Hòa commune, Thạch Thất district, Hanoi.

Speaking at the signing ceremony, VNU President Phùng Xuân Nhạ said that the memorandum signing was an important event in implementing the policy of connecting education with business, and also was the first step in building a higher education zone of the international standard in Vietnam, initializing a period of cooperation based on the quality - service principle.

VNU President Phùng Xuân Nhạ stressed, "This important event not only contributes to a sustainable development of the two parties but also benefits our country's development in the process of international integration, showing an important connection between such a long-standing tradition university as VNU and a Vietnam’s leading private group like BRG".

Expressing his gratitude to BRG Group leaders for their interest in education, VNU President Phùng Xuân Nhạ hoped that by the end of 2015, the two parties would have agreed on an overall plan to be submitted to the Government for approval and in 2016 the implementation of the project could be launched.

Ms Nguyễn Thị Nga affirmed that BRG Group would contribute ideas, share experience in managing business and financial resources for VNU to come up with the best project proposal. After signing the memorandum, the two sides will focus on research, survey, design and implementation of the investment project “International Education Zone” following the model of the world’s developed countries with modification to suit Vietnam's conditions.

Prior to the signing of the Memorandum of Cooperation with BRG Group, VNU had had other cooperative agreements with partners from ministries, industries, localities and businesses such as the Ministry of National Defense, the Ministry of Natural Resources and Environment, Vietnam Oil and Gas Group, Viettel Group, Bank for Investment and Development of Vietnam, etc.