Vietnam's first privately funded university has been launched by United States Secretary of  State John Kerry. The move marked the next stage of an evolving relationship between the U.S. and Vietnam,  Kerry said.

According to the White House statement, the Fulbright University is affiliated by the Harvard. It is situated in Ho Chi Minh City, the commercial centre of the country. It will be the first independent, non-profit university in Vietnam.

Kerry, who served as a young U.S. naval offer in the Vietnam War, said that, "The war is an indelible but increasingly distant memory, and for most it is not a memory at all." The war killed hundreds of thousands of Vietnamese and 58,000 U.S. troops.

"Certainly, the students who are going to enroll in this university are far more interested in plugging into the world economy than being stuck in the past."

"That reality is clearly reflected in the changing relationship between Vietnam and the United States that we saw even changing over the course of the three-and-a-half days," he added.

Bob Kerrey, a former Nebraska senator and veteran of the Vietnam will be the chair person of the university. He lost his leg during combat.

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Nandini