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It is undeniable that education is the main factor which can lead people to the success. However, some countries poorly develop their own educational system and still suffer with this issue. One of the countries that face with the education problem is Vietnam. Recently, the numbers of students attending in colleges and universities in Vietnam continues to drop down. Therefore, many negative effects are occurred, including the economic downfall and the termination of some universities.According to the news reported by Van Chung of VietNamNet Bridge, from an interview with Mr. Nguyen Minh Thuyet, an education expert, there is an excessive number of universities in Vietnam which can be compared with old street houses that cannot be destroyed, but they keep emerging. The main purpose of establish new universities is to improve the quality of education in the country. Moreover, many Vietnameses can be able to study in higher education and compete with people from other countries in the international labor market. Importantly, the government believes that well-developed education can boost up the economy.However, the oversupply of universities can be harmful for the country. Thuyet stated that, actually, 20,000 workers with bachelor degrees are needed in Vietnam annually, but there are approximately 600,000 new graduates in a recent year. As a result, the unemployment rate sharply increases. The evidence taken from Tien Phong’s interview with Nguyen Thi Kim Phung, an acting director of the Higher Education and Training Department shows that the rate of unemployment is one of the important factors that lessens the interest of attending a university. This situation affects many universities in a negative way because some of them cannot recruit new students to reach the highest capacity. Unfortunately, some universities are forced to close down due to a financial problem. Currently, many universities are struggling to exist because of the insufficient number of enrollments. Many universities are taken over by other institutions within the country. For example, Hong Bang University, a well-known private university, was acquired by Nguyen Hoang Technology and Education Group in June. Even though this university did well in the past, it faces with an obstacle of getting new students and with financial supports in recent years claimed by Tuoi Tre from the article of Thanh Nien News. Additionally, most private universities seem to have more problems than government universities because, without good infrastructure and reputation, they cannot survive as the number of universities has increased, but the lack of students still occurs.
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