Vietnam Education Market and Recent Development

Vietnam education market still needs more time and effort to develop further. However, it has a bright future on the horizon. According to a leading market research firm, GMI Research, Vietnam education market forecast has positive directions in the years ahead. This rapid development is owing to the rising educational reforms, the growing educational expenses, and the government initiatives and support for the education sector.

Vietnam's strategy for boosting economic growth includes modernizing their education system, which is according to external analysts is lagging behind their Southeast Asian counterparts. Vietnam places significant emphasis on education to enhance the development of human capital, increase higher education enrollment, and modernize educational methods to support the industrialization in a globalized economy.

Current bold reforms in Vietnam include implementing fresh quality assurance and accreditation systems, establishing a qualification framework nationally, and significantly boosting enrollments in higher education.

One of the goals of the ongoing reforms is to internationalize the system of higher education in Vietnam, which is relatively closed off to global influences. The government is actively working to broaden the education of English language while encourage international exchange and cooperation with nations like the USA, Australia, France, and Japan.

There has been a significant increase in the number of young Vietnamese pursuing higher education, leading to a larger group of potential students interested in studying abroad. As Vietnam projects economic growth, student mobility might escalate driven by efforts to globalize both the economy and educational sector.

In addition, the notable rise in Vietnamese mobility mirrors the country’s fast-paced economic advancement, alongside highlighting weaknesses in the nation’s education system. Key drivers of outbound mobility in Vietnam include the burgeoning middle class which can afford overseas education, the widespread growth of education, and restricted availability of high-quality educational options.

Access constraints and concerns about educational quality in Vietnam play a role in fostering outbound mobility. The education system in Vietnam faces challenges in absorbing the expanding youth population, despite the establishment of numerous high education institutions.

The majority of recent university graduates in Vietnam are encountering difficulties in the job market primarily due to inadequate skills, prompting a growing interest among students in pursuing education abroad. Another significant factor pushing Vietnamese students towards education abroad is the increasing demand for the education in English language. Currently this demand is not adequately met by the overstretched Vietnamese education system, despite government directives for universities to adopt English to be the second language.

Over the last decade, the United States has emerged as the top destination option for Vietnamese students pursuing degree programs in another country, despite the expensive costs associated with studying in the USA and the historical story of the Vietnam war. Japanese, Australian, and French universities are also popular choices for Vietnamese students as their preferred study destinations after the United States.

Vietnam does not currently attract a large number of international students in comparison to other countries. The government has taken steps to develop Vietnam education market and attract more foreign students by removing barriers. For example, universities can now establish their own admission criteria for international students, eliminating the previous requirement for Vietnamese-language entrance exams.