Home Credit and Institute for Educational Research awarded scholarships to 350 kids whose parents are working in industrial parks and export processing zones in HCM City late last week. — VNS File Photo

HCM CITY (Biz Hub) — The Institute for Educational Research and Home Credit Vietnam have instituted the "Blossoming Buds" scholarship worth VND1 million (US$47) each for preschool children of workers at industrial parks and export processing zones, and last week gave it away to over 350 kids in HCM City.

A total of 1,000 scholarships worth VND1 billion ($47,000) will be awarded in the city and Binh Duong and Dong Nai provinces this year.

"With a long-term commitment and unceasing efforts to improve the standard of living of Vietnamese, we hope to join hands with the Government and other organisations to take care of children, who are the potential generation of the country," Friedrich Weiss, general director of consumer financial services company Home Credit Viet Nam, said.

At a ceremony held to hand over the scholarships, Nguyen Kim Dung, vice chairwoman of the HCM City University of Pedagogy's IER, said a study by her institute found that in HCM City and Dong Nai public preschools only met 50 per cent of the demand.

In Binh Duong, the ratio was a mere 20 per cent, she said.

"This is cause for alarm for educational authorities as well as local governments, who need to increase the number of preschools to meet the demand of parents, especially workers who have the least choices for their children due to difficult conditions and low incomes," she added.

In Binh Duong, the scholarships will be awarded in May, and in Dong Nai, a month later. — VNS