The University of Sydney Viet Nam Institute (SVI) officially opened in Viet Nam in June 2024 as a non-profit social enterprise owned by the University of Sydney. Supported by up to AU$40-45 million (£20-23 million) in non-profit funding from the Australian government and international donors, the institute will reinvest all its revenue into research activities in Viet Nam. SVI is the second Research Unit of an overseas university to set up in Viet Nam after OUCRU (Oxford University Clinical Research Unit - https://www.oucru.org/) in 1991. SVI is also open to collaborating in these research areas with international individuals, organisations and universities, including UK universities, in Viet Nam. Amid a highly competitive environment, UK universities may want to consider exploring potential multi-national research collaboration opportunities, with this as a model for research establishment outside the UK.