Project background
Greater Ho Chi Minh City region’s
new education hub
Nam Long VCD Corporation (Nam Long VCD) is
the master developer of an international-standard
planned community of 355 ha for 8,800 households
and 20,500 people, Vam Co Dong New Urban
Township at Ben Luc, Long An Province in the
greater Ho Chi Minh City area. Vam Co Dong New
Urban Township is a large real estate development
project with a combination of commercial
departments, retail, business park, hospital, country
club house, golf course with condominiums, villas,
town houses, residential department, port, marina,
university and schools to serve the district as well as
other regions such as Mekong Delta region and Ho
Chi Minh City.
Figure 1: Location of Vam Co Dong New Urban
Township development
The new university will be able to offer a range of
undergraduate and graduate courses, basic and
applied research, technology transfers to enterprises,
and other ancillary functions including student and
staff housing. Courses can cover business and
management, arts design and culture, languages,
ICT, science and technology. Approval in principle
to its establishment has already been given on behalf
of the Prime Minister. A superbly-located site is
available for development.
On the fast-growing western side of Ho Chi Minh
City close to Saigon South, the modern side of the
city, Vam Co Dong New Urban Township
development and the surrounding Ben Luc areas’
advantages include:
Currently:
• A 14.07 ha site in an international master planned
community, with favourable transfer or lease
consideration from Nam Long Corporation
Nam Long Investment Corporation is now seeking
strategic domestic and/or foreign investors to help
develop this key part of the Nam Long – Vam Co
Dong New Urban Township development. The
company seeks expressions of interest from
investors and operators to form a partnership
with the company and the holders of the
Principal Approval for university operation,
which will lead to the University Operation
Licence after completion of the legal procedure.
The parties would enter into an in-principle
Memorandum of Understanding with Nam Long and
then undertake a joint feasibility study with Nam
Long and its consultant, Learning Cities
International. If the results of that study were
favourable, the parties would move to a detailed
agreement for joint development of the campus and
independent university operations. There is wide
scope to form and operate the university to the plans
of the successful partner entity.
• Current approval in principle by the Deputy
Prime Minister on behalf of the Prime Minister to
a university licence, a rare opportunity in Viet
Nam
• Strategic geographic location by the newlydeveloped National Road 1A, Saigon-Trung
Luong Expressway, Nguyen Van Linh Avenue
and Vo Van Kiet Avenue, which connect the
project with central regions such as District 1 and
Phu My Hung Residential
• 45 minutes' drive on a divided highway from
District 1, Ho Chi Minh City’s downtown area
• Strong Long An Province and Nam Long VCD
support for fast-track approvals.
In the near future:
• International property development standards on
site and in the Ben Luc Project Area, with
continuing assurances of quality, and active real
1 estate developments in the surrounding areas,
including an international theme park nearby
under construction
studying overseas. Many would prefer to
remain in Viet Nam and are able to afford incountry fee levels for international or topquality Viet Nam qualifications.
• Adjacent to a major new business zone, potential
technology park, restaurants and retail outlets in
the Long An Project
Vam Co Dong New Urban Township
The development of Vam Co Dong is well under
way, with infrastructure works, waterfront
residential, county clubhouse and golf precinct being
led by international firms of architects and
engineers.
• Next to a new international school with potential
for student transfers and shared facilities
• Possibility of use of country club, golf course and
related recreational facilities
• Student and faculty housing opportunities on site
and in adjacent areas
• Land granting approval in 2007-2008
• Availability of quality access to infrastructure
services including high-speed broadband
telecommunications
• Master plan approval in 2010
• Investment certificate in 2009
• Compensation and clearance completion in 2011
• Strong district growth now and vibrant
community, social and recreational facilities.
• Ground breaking June 2011
Figure 2: Vam Co Dong New Urban Township
master plan
Good demand outlook
The region has a very favourable investment and
educational outlook.
•
Ho Chi Minh City’s population of over 7m
people has been growing at 3.6% annually,
spilling over into Long An Province to the west.
•
Long An Province is in a special position as one
of the six provinces of the ‘Key Southern
Economic Zone, gateway to the rice and
seafood exporting zone of the Mekong Delta
area.
•
The GNP of Viet Nam is growing at 7%
annually consistently despite world economic
conditions, and the greater Ho Chi Minh City
area is the one of the richest in Viet Nam per
capita and the largest city region, with rising
discretionary household spending. It is fast
becoming one of Asia’s most dynamic regions.
•
The family culture and government policy of
Viet Nam give exceptionally high standing to
education. There is a young and cashed-up
middle class with high aspirations and ability to
pay for international standard higher education.
•
The government of Viet Nam and Long An
Province see higher education as key to its
economic and social future and meeting the
booming demand for university degrees and
professional skills.
•
Figure 3: Vam Co Dong New Urban Township
development phasing, 2010-11
Investor and operator advantages
The outlook is very good for prospective
international and domestic universities Viet Nam has
high unmet demand for higher education, with fastgrowing numbers of qualified candidates, and many
unable to find places. Though private universities
Shortages of high-quality places in Viet Nam
institutions are causing many families to seek
education overseas, with over 30,000 students
2 have sprung up to cater for this demand, many are of
sub-standard quality. The Government of Viet Nam
strongly encourages domestic and international
investment in education and has established a
framework allowing international providers entry to
the market and to assist genuine domestic investors
and providers.
VCD Corporation and the intellectual property
owners of Mekong University for the purpose of
campus development.
Construction and other
aspects of the development can be done by the
interested party or, at their request, by one of Nam
Long’s development companies. However, the
operation of the university will be left mainly to the
preferred company.
Figure 4: Vam Co Dong New Urban Township
university site
Figure 5: Proposed project structure, Vam Co
Dong New Urban Township university
development
• The only fully-developed international university
in Viet Nam is RMIT International University
Viet Nam in District 7, Ho Chi Minh City, a
100% foreign-owned institution.
• Though there are over 80 universities in Ho Chi
Minh City itself with more than 400,000 students,
there are only three in Long An, a province of
1.5m people.
Project Road Map
• Because of the high priority given to education
by Vietnamese families, many students are
willing to travel to find good quality higher
education, and the development site is very
accessible to the larger Mekong Delta region of
12m people.
• Long An Province has a strong manufacturing
sector and has developed a number of successful
industrial and technology zones, which are
hampered by the shortage of skilled labour.
Professional employment prospects for graduates
from the university will be very good and local
companies will be willing partners in university
expansion.
• Moreover the international opportunities in one
of Asia’s most dynamic city-regions will attract
students to Long An, as well as international
students if the programs are internationally
recognised.
Project structure
It is intended that the preferred investor-operator
consider forming a joint venture with Nam Long
3 Figure 6: Project road map, Vam Co Dong New
Urban Township university development
invested in the company in 2008. In addition,
Vietnam Azalea Fund Limited – a private equity
fund owned by Mekong Capital (one of the
largest equity fund managers in Vietnam)
acquired a stake in Nam Long Investment
Corporation in 2010.
• Nam Long VCD Corporation is one of the
subsidiaries
of
Nam
Long
Investment
Corporation and established mainly for
developing Vam Co Dong New Urban Township.
Contacts
Mr Steven Chu, Managing Director
Nam Long VCD Corporation
Capital Tower, 5B Floor, 06 Nguyen Khac Vien Street,
Tan Phu Ward, District 7, Ho Chi Minh City, Viet Nam
Tel +84-8 54 14 15 16 ext. 1000
Fax +84-8 54 13 14 15
steven.chu@namlongvn.com
Mr. Hoang Anh Tuan, Business Development Manager
Nam Long VCD Corporation
Capital Tower, 5B Floor, 06 Nguyen Khac Vien Street,
Tan Phu Ward, District 7, Ho Chi Minh City, Viet Nam
Tel +84-8 54 14 15 16 ext. 1805.
Mobile: +84 919 817 390
Fax +84-8 54 13 14 15
Professor David Wilmoth
Learning Cities International Pty Ltd
950/2 York Street
Sydney NSW 2000 Australia
Tel +61 418 561 052
david@wilmoth.com.au
Nam Long Investment Corporation
Company background
• Incorporated in 1992 and headquartered in Ho
Chi Minh City, Nam Long Investment is
principally engaged in the development of
residential real estate projects in Vietnam.
• The Company has 10 subsidiaries and joint
ventures and operates in the major cities and
provinces in Vietnam, including Ho Chi Minh
City, Can Tho and Long An.
• Since 1997, the Nam Long Group of Companies
has successfully completed nine projects
covering approximately 82 ha which include land
bank sales and the development of over 1,500
apartments, over 500 townhouses and villas, as
well as a 14-storey office building.
• Two strategic investors, Nam Viet (100% owned
by Goldman Sachs) and Aseana Properties (a
London Stock Exchange listed fund and owned
by Malaysia’s leading developer – Ireka),
4 Figure 7: Mekong University licence is available
for this development
Every effort has been made to provide accurate information in
this document. Nam Long VCD Corporation and its advisers
are not responsible for any actions based on this information,
and interested parties are advised to undertake their own
investigations.
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