Accordingly, the United State Agency for International Development (USAID) will grant 7.2 million USD over three years to help the university develop its tertiary training programme. This is USAID’s first ever grant to the Fulbright Vietnam University.

Ceremony in Ho Chi Minh City announces the establishment of Fulbright Vietnam University.

The Bureau of Education and Cultural Affairs under the US Department of State has also decided to offer 8.3 million USD to the university. The Department of State has funded the Fulbright Economics Teaching Programme - the predecessor of the university – over the past 20 years.
Speaking at the ceremony to announce the grants, US Ambassador to Vietnam Ted Osius said the USADID’s financial assistance aims to help reduce the cost at the university, thus facilitating access to the institution for Vietnamese students, while reaffirming the US’s commitment to the success of the university.
The university will open the first master’s programme in September, and begin recruiting undergraduate students in 2018. Fulbright University Vietnam President Dam Bich Thuy expressed her pleasure at receiving the aid from the US Government, which she said is significant to the university’s development in the early stage.
On the occasion, the university also announced its 40 full scholarships, each worth up to 65 million VND (2,680 USD) for an eight-week English language skill course for high school students from July 3 to August 31. Registration can be made online at www.fel.edu.vn or at the university’s office in Ho Chi Minh City.
Fulbright University Vietnam (FUV) is a private nonprofit university in the Saigon Hi-Tech Park in Ho Chi Minh City, Vietnam. It is one of Vietnam's first private, nonprofit institutions of higher education. The FUV concept emerged from discussions convened by the Vietnam Program at the Harvard Kennedy School aimed at planning the next stage in the development of the Fulbright Economics Teaching Program (FETP), a center of public policy research and teaching in Ho Chi Minh City.
Since 2014, the university's development has been coordinated by the Trust for University Innovation in Vietnam (TUIV), a nonprofit corporation based in the Boston area. TUIV and the Harvard Vietnam Program are recipients of several grants from the Bureau of Educational and Cultural Affairs of the United States Department of State.