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At the launch ceremony (Photo: VNA)

The launch marks the three main pillars of the group for business, education and training and scientific research, and shows the group's contributions to the development of human resources in Vietnam in order to make breakthroughs in science and technology.

Phenikaa University was formerly known as Thanh Tay University, and became a member of the group in 2017.

Addressing the launching ceremony, Ho Xuan Nang, the group's chairman and chairman of the university and the foundation, shared that with a sense of responsibility to the development of the country, the group decided to make not-for-profit investments in education and science and technology development.

The launch of the university and the foundation also aim to create an incubator environment and develop talents while encouraging innovation as well as pursuing and realising ideas of scientists and startups, contributing to building the country’s internal strength, he added.

Following the philosophy of “Respect – Innovation – Critical Thinking”, the university has set its sights on becoming one of the top 100 universities in Asia in 20 years.

Aiming to provide international standard teaching, the group has signed a comprehensive education cooperation agreement with the US-based Andrews University.

The partnership will provide learning opportunities through internationally-certified training curriculum in the majors of business administration, nursing, and aviation technologies. They will also work on joint research on business administration training; develop teacher training programmes, and a training curriculum for the Phenikaa inter-level international school.

Also at the event, the group announced it will spend 1 trillion VND (more than 43 million USD) on the Phenikaa Foundation.

The group has signed an MoU to further improve the technology research with the Office of National Science and Technology Research Programmes of the Ministry of Science and Technology.

Established in 2010, with core business operations in industrial manufacturing and technology, education and scientific research, Phenikaa Group is mostly known for its listed firm Vicostone, one of the world’s leading firms providing high-quality quartz-based engineered stones. The group has also expanded into the hi-tech, smart and automated products sectors.