Deputy Prime Minister Nguyen Thien Nhan has asked the UK government to give US$50-100 million worth of aid over a five to ten-year period to develop Vietnam-Britain University.
Most of the money will go towards salaries for teachers, researchers and managers who will come from the UK to work at the new university, he said in a statement on the government website.
The school is expected to take over Da Nang University.
During a meeting with British ambassador Mark Kent on Monday, the Deputy PM asked the British Council in Vietnam to send design requirements to the Ministry of Education and Training. The ministry will send them a report detailing the current situation of Da Nang University.
Vietnam has been planning to develop universities to international standards since 2005.
In August, the World Bank approved a loan worth $180 million to help the country build Vietnam-Germany University.
Vietnam University of Science and Technology, a joint project with France, is expected to receive students this year.
Other projects with the US and Russia are underway.