Vingroup and the Singapore Management University (SMU) plan to further their co-operation in business administration following a Memorandum of Understanding (MoU) inked between the two sides on Thursday.

Under the MoU, the two sides will co-ordinate in technical research and development in areas related to business models, customer behavior and experience.

SMU will also help Vingroup sharpen the management of its leadership team to meet the needs of international integration besides improving the capacity of the group’s IT specialists in term of architectural design and technology application solutions.

The MoU would also facilitate the exchange of professors and students between SMU and Vingroup’s VinUni University, the group said in a statement.

Vingroup vice chairman and CEO Nguyễn Việt Quang said he hoped that SMU would work with his group to promote the development of a new generation of entrepreneurs with a strong spirit and aspirations to lead their companies to compete in the international arena.

"In the past two years, SMU has worked closely with Vingroup in human resource development,” SMU president Arnoud de Meyer said, adding that to date, many of Vingroup’s senior leaders had completed their leadership programmes with excellent results.

“With this MoU, we are looking forward to continuing our long-term partnership with Vingroup in the near future,” the president said.

SMU is one of Asia’s leading universities in business management. The university is well-known for its breakthrough technology and teaching methods. SMU is one of Asia’s most eminent universities that emphasises practical research that can address global concerns.

Meanwhile, Vingroup is largest private enterprise in Việt Nam with its presence in a wide range of sectors including real estate, hotel and entertainment, retail, industry, technology, healthcare, farming and education.

The group’s VinUni University will be based in Hà Nội. Construction of the campus is expected to begin this year. The first batch of students will be enrolled in 2020.

VinUni University will focus on business, technology and health sciences. — VNS