Saigon Times, March 10, 2004
By Kim Cuc
Singapore's PSB Corp. will join forces with CetanaVietnam in HCMC to open an international educational center in the city in mid-2004.
The two sides signed an agreement at the Vietnam-Singapore Business Forum yesterday during Vietnamese Prime Minister Phan Van Khai's four-day Singapore visit, which began on Monday.
"PSB Corp. gets a good impression of Vietnam's development," said Henry Heng. general director of PSB Corp.
PSB Intellis, an education and training arm of PSB Corp., will directly take part in the cooperation project.
"The total capital required for the center is more than US$1 million," said Mohan Coomaraswamy, general director of Cetana Vietnam, a subsidiary of Cetana Corp.
Cetana also plans to invest another US$3 million to open other training centers in Hanoi, Danang and Can Tho.
The Cetana PSB International College in HCMC will organize courses on English, business administration, hospitality and travel, information technology, human resources and public relations.
High-grade certificates issued by PSB are recognized by the International Examination Council of Cambridge University, and more than 25 universities around the world.
The six-floor center in District 5 will be equipped with a computer system having Internet access, labs, audio and visual equipment and a library.
PSB Corp. provides integrated business solutions while Cetana Corp. is a Singaporean provider of education and training services.
The forum also saw the signing of other major deals between Vietnam and Singapore, including developing a mobile phone factory in Danang in central Vietnam, setting up a logistic services joint venturein Vietnam, a ship repair joint venture and a memorandum of understanding on credit for Vietnamese importers.
During the Singapore trip, PM Khai and his Singapore counterpart Goh Chok Tong witnessed the signing of an agreement on a comprehensive cooperation framework on Monday.
Khai emphasized the importance of cooperation with Singapore, which is now Vietnam's largest foreign investor with total capital of US$7.8 billion-plus pledged by end-2003.
Two-way trade between the two countries last year was reported at US$3.9 billion.
