Vietnam Education Market

Vietnam Education Market Overview

Vietnam education market is estimated to grow at the fastest CAGR in the forecast period due to improvements in institutional reform and educational technologies, enhancement of local education, rise in educational expenses, and increase in government support. Education technology such as software and hardware technology utilized to provide education on an online platform to enhance the learning experiences in classrooms. Technologies in the education sector help learners to tackle challenges during the learning process. Vietnamese government making huge investments in educational technologies (EdTech) to make distance leading more effective. Based on Do Ventures, across Vietnam, EdTech is on the third number in the list of invested fields during the past 8 years in the technology sector. However, in Vietnam for EdTech total venture capital investment is USD 103 million, followed by payment field and retail. Although, during its early stages, the digital transformation and EdTech is still in Vietnam.

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Major Vietnam Education Market Drivers

The rise in several higher education registrations has evolved which is predicted to drive the Vietnam education industry. The government of Vietnam is taking initiatives to get more enrolments in higher education by developing education infrastructure, and human resource development. Presently, developing local education and effective internet coverage is a foremost priority plan. Additionally, initiatives by the government aim for ambitious goals such as a 10% yearly rise in local university enrolment and introducing a higher education system coupled with global standards. Therefore, it has increased the involvement of the private sector, raised the allocations of the national budget, and motivated foreign direct investments in training services and improving the education sector.

An increase in disposable income, a rise in child education investment, and a growing demand for international education service providers are predicted to present different market growth opportunities in the forecast period. Vietnam’s demographics, with nearly 60% of its almost 90 million population under 35 years old, are predicted to positively influence the educator sector market. Young Vietnamese, benefitting from increased disposable income, are keen to acquire skills and knowledge supported by their parents, coupled with the rising demands of the labor market. Additionally, with the increased aim of investing in kid’s education, there is a growing demand for registering them in international learning environments to gain a higher quality of education. This trend makes the market increasingly fascinating to enter. Vietnam is facing hurdles in skill gaps and local qualifications in different fields. Therefore, it is predicted that international qualifications are perceived as a valuable benefit and, in some fields, are almost necessary.

Beyond the growing demand for international education providers, investors can find different new opportunities facilitated by the government, particularly following the country’s involvement in the WTO. Education remains a key national priority as the government sees it as a crucial factor in determining the economic success of the country. Government efforts are on the way to develop school access and enhance the overall quality of education in Vietnam. Vietnam’s dedication to education system reforms has led to significant progress in general education. The country has introduced substantial changes to achieve international standards of quality in human resources in various factors of general education. A fresh competency-based curriculum has replaced the traditional textbook-focused approach, introducing innovative teaching methods and materials. The new curriculum integrates STEM/STEAM subjects, highlighting the enhancement of critical skills and problem-solving potential among learners. EdTech partners can explore promising business opportunities in the education sector, especially in the digital context for STEM/STEAM subjects and e-textbooks. In addition, there is a high demand for teacher training and assessment products designed for English language training, reflecting the need for educators to adapt to the evolving educational landscape.

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Collaboration initiatives that center on sharing experiences and professional knowledge in curriculum development, implementing digital agendas, and quality assurance at an institutional level play a significant role in fostering the growth of early childhood education in the education sector across Vietnam. For instance, Gakken Holding and KiddiHub Education Technology have joined hands to harness KiddiHub’s well-established online existence to advance non-cognitive learning, intending to foster critical thinking competencies among young students.

The growing early childhood education sector of Vietnam, EdTech ventures have an opportunity to influence the education sector. By offering innovative solutions personalized to the unique requirements of young students, EdTech businesses can contribute to building a solid foundation for constant learning and development.

Presently, due to the development of innovative technologies and the adoption of connected and automated devices, the emergence of blended learning is rising in Vietnam’s education sector market. The integration of traditional face-to-face teaching with e-learning and computer-mediated assistance, known as the hybrid approach, has become prevalent and effective in Vietnam’s educational market. As educators in Vietnam implement, blended learning, there are promising opportunities for local businesses to collaborate with foreign investors. Local partnerships can play an important role as recruiting hubs, simultaneously assessing the market’s requirements and demands. For instance, FPT University in Vietnam and Swinburne University of Technology joined hands to deliver an undergraduate degree in Information and Communication Technology (ICT). This initiative delivered a blended learning experience, using Swinburne’s courseware and ICT solutions, enhanced by FPT’s mentorship, and learning assistance, coupled with registration, admissions, and localized marketing. This is expected to drive education market in Vietnam.

In the field of (VET) vocational education and training can be beneficial to explore partnerships with reputable vocational colleges that are strongly committed to skill development. Partnerships in VET, especially through mini-qualifications and industry-recognized micro-credentials, offer a growth opportunity for both Vietnamese partners and foreign businesses. Key industries like design, tourism and hospitality, communication, and IT could experience benefits from partnerships.

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