Vietnam E-Learning segment could reach US$ 3 billion by 2023
By 2023, the country’s market for online learning is estimated to reach revenues of around US$3 billion, with a compound annual growth rate of about 20.2% from 2019-2023.
Experts note the educational technology (EdTech) market is attracting investors as it holds great potential, especially in the context of the COVID-19 pandemic and the subsequent changes in daily operations. Vietnam was listed in the top ten fastest-growing EdTech markets globally, posting annual growth of 44.3%, according to the Vietnam Edtech Report 2021.
In 2021, the country’s status moved from ‘pandemic response education’ to ‘pandemic adaption education’ amid the complicated developments of the pandemic. A news report explained that this year, EdTech will pioneer technology when the demand for digital platforms for learning increases. The Director of the Department of Market Development and Science and Technology Enterprises (under the Ministry of Science and Technology), Pham Hong Quat, noted that the country should boost “open innovation” to attract more resources to further promote the start-up innovation ecosystem in general and the EdTech field in particular. He also hoped that universities will focus on implementing cooperation agreements with foreign universities towards meeting the needs of businesses in the future.
At the end of 2021, the Ministry of Information and Communications (MIC) and the Ministry of Education and Training (MoET) announced a collaboration to digitally transform the education sector. The two ministries said they would compile assessment criteria and information safety standards for online learning platforms. As OpenGov Asia reported, from September to November of last year, the government installed Internet connections to facilitate online learning at 1,000 locations, and installations at the remaining targeted regions were completed in January this year. As around eight million households currently have yet to gain access to fibre-optic cable Internet services, MIC has urged providers to ensure fibre-optic Internet connection for all households in Vietnam before 2025.
A programme launched by the Prime Minister had handed over more than 100,000 computers to help students learn online. It also accelerated the installation of internet connections in remaining locations with a budget of some VND 3 trillion (US$131.54 million), while reducing online learning tuition fees totalling VND 500 billion (US$22 million) for some student groups. Vietnam has developed six online learning platforms, which are being used by about 10 million students.
During the 15th National Assembly’s second sitting, MIC claimed that the national digital transformation programme prioritises digitising education and training. The programme, which was launched in 2020, aims to develop a digital government, economy, and society and form Vietnamese digital technology enterprises capable of going global. Under the strategy, the government aims to use technology to help deliver better quality services, support efficient decision-making, formulate better policies, optimise resources, and aid socio-economic development. Other tasks include operating specialised network infrastructure securely, connecting four administrative levels from the central to the commune level, and building a government cloud computing platform.
By Samaya Dharmaraj – OpenGovAsia.com – April 12, 2022