Evolving toward a more modern structure, approximately one million Vietnamese moved annually between 2014-2017, from agriculture to service and industrial sectors. Rapid urbanization will continue, thus national education development is a priority to improve the skills of the labor force and increase productivity.
With a large population of over 94 million and a young age structure, Vietnam is well placed for expansion of the education sector, however needs to emphasise advancing the quality.
As domestic education often fails to meet international standards, many wealthy households elect to educate their children abroad. According to UNESCO Institute for Statistics, Vietnam outbound students increased by an average of 12% pa from 50,000 in 2012 to approximately 80,000 in 2016. These numbers suggest alternate choices in local education are needed and highlights the potential for investment in this sector.
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