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PRESS
RELEASE OF EIT Foundation January 2002 On November 6, 2001, a Memorandum of Understanding (MOU), concerning the foundation of the Eastern Institute of Technology, was signed by the government of Linyi municipality, China, Bio Development International, Inc., USA, and Stratos LLC, Greece, EU. The signature ceremony was held in Ronghua Hotel, Linyi City, Shandong, China. Government officials: Mr. Qiao, Shandong province party secretary, Mr. Yan, vice mayor of Linyi Municipality, Representatives from Bio Development International, Inc. (BDI) and Stratos LLC: Dr. Shao, director of Asian Business Development of BDI, Mr. Flanagan, Manager of International Marketing of BDI, and Dr. Soubassakis, President of Stratos LLC attended and celebrated the ceremony. The MOU is a result of about 10 months discussions, meetings, negotiation, and planning among all involved parties. November 4 to November 6, 2001, following preliminary contacts, meetings and relative proposals, official meetings took place at Linyi Municipality, Shandong, China, concerning the foundation of the Eastern Institute of Technology, EIT, in Linyi Municipality. Mayor Li, Vice Mayor Xu, and Vice Mayor Bao were participated in the meetings and discussion. The foundation of EIT is highly appraised and supported by Government of Linyi Municipality and Shandong Province. The
investment budget required for EIT is around 600 million RMB (~US$75.00 Million;
~Euro 83 Million). The implementation, foundation, buildings’ construction and operation
will be subjected to existing laws of China and local government, as well as
regulations for import/export of capital investment, educational programs, and
acceptance of the local, state and international political and academic
societies. Mission
of EIT
The mission of EIT is to enhance of individuals'
professional skills
and scientific common sense, and broaden individuals' knowledge on international
business practice and standards, which is very important for Chinese companies
after WTO. By this, EIT will contribute to the development of the High-Tech
Industry of China and supply professional personnel to international businesses
and financial industries. In addition, EIT will take measures to offer
opportunities to the local dynamic youth, fighting local and regional poverty.
EIT is committed to offer equality in opportunity and education, regardless of
gender, economic background, and political and social status. EIT will provide
scholarships, various financial aids and loans to significant portion of
students, who
are in need of financial aids to get academic education and fight local and regional
destitution. Other assistance
tools will be in form of availability
of part time jobs, in EIT, other educational entities and local industry and
services, during the academic period. EIT’s quality and contacts will secure
positions for students with high achievements and in financial need during
vacation periods as internships. Structure
of EIT
The Institute will
include undergraduate and graduate curriculums in Engineering, Applied Sciences
and Management and Continuing Education. EIT 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
Sciences College will consist of two departments: Computer Sciences and
Information Technology. College of Management
will include two departments: Finance and Business Management. The Language College will focus on enhancing English language and
terminology skills of individuals. EIT will train
individuals in Engineering, Management and Foreign languages to meet the
international standard demands. Most of courses of the Institute will be taught
in the English language. EIT will operate
in accordance with the Chinese Laws and regulations regarding the utilization of
foreign investment for educational purposes. EIT 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. 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
and progressively of Shandong
province and China.
The Institute will use either four years academic system, as commonly required
in the Chinese University educational level, or an enhanced 1 + 4 + 1 system
that is: during the first year, the students will reach on a comprehensive level
of speaking, writing and orally understanding the English language and their
studies’ terminology. 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 about 10 well known
scientists trained in USA/Europe as leaders in their specialties. The ratio of
the professors to students will be maintained at one to thirty in the first two
years, and adjusted to one to twenty later on. Recruiting and compensation for
the professors will be at competitive international levels. Student
Exchange Programs EIT
will develop student exchange programs to provide opportunities for
international students from the US, Canada, Europe and other areas for study at
the EIT in their relevant majors. Benefits of the program include the
stimulation of cultural exchange between China and western countries, enhancing
the image and reputation of the EIT, improving EIT student’s knowledge of
western culture and international business standards. Development
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 EIT 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 EIT;
the
principal and educational model of the Institute defined in the previous
paragraph will not be altered because of this cooperation between EIT and Linyi
University. The
government of Linyi municipality understands that Linyi as a large city with
population of ten 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 EIT will
enhance the reputation and educational qualities of Linyi University. Linyi
University and EIT will mutually respect their decisions in their future
cooperation and development. EIT can stay in Linyi University as its part. In
addition, it can become an independent University when the conditions allow. Site
selection for EIT will fully comprehend and respect foreign investors' decision.
An independent location for the Institution, in the outskirts of Linyi has been
proposed and Municipality’s government has committed to provide about
1,400,000 m2 land at mutually acceptable terms. For the first year,
one of four campus of the Linyi Normal College will be rented for the first
students to attend and reach at English language and terminology high levels. In
order to guarantee that the operation system of EIT will be comparable with
international standards, the Institute will have independent legal status. The
human resources, finance and asset management of the Institute will be kept
independent. For
the establishment of EIT, the government of Linyi city has agreed and signed
that will provide all necessary conveniences and assistance for the
establishment of the Institute. International
Center
As
an inter-medium step, the foreign parties has established an "International
Center of Management Training and Sciences and Technology Exchange" and the
Government of Linyi has provided one floor, about 300 m2, of the
Administration Building of the Linyi High Tech Development Zone, to serve as the
initial premises of the Center. The government of Linyi has also proposed to the
investors the availability of about 20,000 m2, in the center of the
city, in order to be developed into a 35 – 40 story building, with the 15
lower floors serving as business offices, bank headquarters and the permanent
location of the Center while the top 20 floors to become a hotel. The
Center is a non-profit organization and has an ownership of 50% by USA
partners and 50% by Greek partners. It will cover the Linyi – Gingdao area,
with a population of about 20 million and increase rates of GDP exceeding
10%
per annum, for the last decade. Programs
of the Center include: 1.
International Executive Programs The
curriculum and timetables for the training of the first group of about 40
managers of Chinese organizations, in China and internationally have been
proposed and expected date for the beginning of the courses is March 11, 2002.
Data bank for speakers and instructors has been opened and being enriched.
Preliminary steps for legal and other documents have been taken. 2.
Cultural Exchange Programs There
have been contacts for the mutual cultural experience exchange between China and
Greece/ USA. Also, steps have been taken to adopt the “Twin Cities” concepts
between cities in China and the USA/ Europe. 3.
Chamber of Commerce Chamber
of Commerce and other institutions have been proposed and their foundation is
being organized.
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