|
|
  |
Memorandum
of Understanding of Establishment of Eastern Institution of Technology in Linyi
by Bio Development International, Inc. and Stratos
LLC During
November 4 to 6, 2001, Mr. John Flanagan
and Mr. Yulin Shao,
representatives of Bio Development International, Inc. (USA) and Mr. Efstratios
Soubassakis representative of Stratos LLC
(Greece), visited Linyi municipality and negotiated with the Government of Linyi
municipality, regarding the establishment of
Eastern Institute of Technology. Based on consultation of all parties the
following articles were concluded: 1.
The mission of the Eastern Institute of Technology is: to contribute to
the development of the High-Tech Industry of
China, to meet the demand for senior and professional staff for foreign
companies in China, to supply professional personnel to international businesses
and financial industries. Eastern Institute of
Technology will be a non-profit and public service organization, training
individuals in Engineering, Management and Foreign languages to meet the
international standard demands. The Institute will include undergraduate and
graduate curriculums in Engineering, Applied
Sciences and Management and also will include Continuing Education at graduate
level. The Institute will consist of four colleges: Engineering, Applied
Sciences, Management and Languages. Engineering College will include three
departments: Telecommunications, Energy and Environment, and Electrical
Engineering. Applied Science College will consist of two departments: Computer
Sciences and Information Technology. Management College will include two
departments: Finance and Business Management. The Language College will focus on
enhancing English language skills of individuals. Most of courses of the
Institute will be taught in the English language. 2.
The Eastern Institute of Technology will operate in accordance with the
Chinese Laws and regulations regarding the utilization of foreign investment for
educational purposes. Considering the changes resulting from the acceptance of
China into the WTO, all parties agree that
Engineering, Applied Sciences and Management Sciences should first adopt
international standards. Eastern Institute of Technology will be established by
cooperation of foreign and Chinese parties. Foreign parties will invest and
develop the Institute, will choose Board of Directors as governing body and the
Institute will be independent in financial, educational and management maters. 3.
Considering the Chinese policy regarding the foreign investment in
educational sector and the real needs of Linyi city, all parties agree that the
initial development of the Eastern Institute of Technology will be combined with
the development of the Linyi University: one school - two systems. The
Engineering and Management departments of Linyi University will be enhanced due
to the development of the Eastern Institute of Technology,
therefore, the principal and educational model of the Institute defined in the
second part of this MOU will
not be altered because of this cooperation between Eastern Institute of
Technology and Linyi University. 4.
All parties agree that the cooperation between the Eastern Institute of
Technology and Linyi University will be based on a win-to-win situation. The
government of Linyi municipality understands that Linyi as a large city with
population often million, and since the economics of Linyi city is
underdeveloped it will be very difficult to invest and develop the Linyi
University completely relied on government investment. Considering the limited
availability in faculty and research facilities it has to use a creative
approach in order to make Linyi University a high standards school. At initial
stage of development of Linyi University, the co-establishment of Eastern
Institute of Technology will enhance the reputation and educational qualities of
Linyi University. Linyi University and Eastern Institute of Technology should
mutually respect their decisions in their future cooperation and development.
The Eastern Institute of Technology can stay in Linyi University as its part.
Also, it can become an independent University when the conditions allow. 5.
The investment budget required for Eastern Institute of Technology is
around 600 million RMB. The enrolment of the Institute will reach ten thousands
in five to eight years. Fifteen hundred students will enroll in the first year
of operation, two thousands in the second year and the number will increase in
accordance with the needs of Linyi. The Institute will use either four academic
years system, as commonly required in the Chinese University educational level,
or a 1 + 4 + 1 system that is: the students have, during the first year, to
reach on a comprehensive level of speaking, writing and orally understanding the
English language. The next four years they will acquire the knowledge and
abilities to be awarded the Bachelor's degree. The last year, they can pursue
graduate studies. A credit system will be utilized. Faculty structure: forty to
fifty percent will be foreign faculty, there will be 10 PhD/ Doctors trained in
the USA and Europe, as leaders in their specialties. The ratio of the professors
to students will be maintained at one to forty, in the first two years and will
be adjusted to one to thirty, later on; that is comparative with the good
universities in the USA and Europe. Recruiting and compensation for the
professors will be at competitive international levels. 6.
Site selection for the Eastern Institute of Technology should fully
comprehend and respect foreign investors' decision. An independent location of
the Institution, outside the Linyi University, will be allowed. One University
with two campuses is not unusual in China and internationally. 7.
In order to guarantee that the operation system of Eastern Institute of
Technology will be comparable with international standards, the Institute should
have independent legal status. The human resources, finance and asset management
of the Institute should be kept independent. 8.
For the establishment of the Eastern Institute of Technology, the
government of Linyi city will provide all necessary conveniences and assistance
for the establishment of the Institute, in accordance to the Chinese laws,
regulations and application procedures. 9.
All parties agree that the development of the Eastern Institute of
Technology will enter practical operation once approved by the provincial
government. The Linyi government agrees that initially the foreign parties can
establish an "International Exchange and Training Center of Sciences,
Technology, Trading and Investment" and submit application in accordance
with the relevant application procedures. The premises of the Center will be
located in Linyi High Tech Development Zone. 10.
All parties should promote this project with the spirit of sincere
cooperation, based on this MOU. Linyi government will direct proper staff to
assist and coordinate the application procedures and the establishment of
Eastern Institute of Technology. 11.
Once the articles of this MOU are reported and approved by the provincial
government, the agreements, contracts, and feasibility research report should be
prepared immediately. 12.
This MOU is written in Chinese and English; each version has three
originals and are hold by the three participants. Signed
by:
|
|
Send mail to Webmaster
with questions or comments about this web site. |
