Vietnamese parents are paying significant amounts for foreign education.
Vietnamese parents tend to invest dramatically more money for their children to study overseas each year. The amount spent on costs associated with sending children abroad in 2013 was around $1 billion. However, that figure ballooned to almost $1.5 billion a year later, according to initial estimates by the Ministry of Education and Training (MET).
The number of Vietnamese students studying overseas has increased significantly, by 675 per cent over the past five years. Even so, that number is predicted to increase rapidly in the forthcoming years.
Vietnam is currently in the top ten countries for the amount of students studying in the US, according to the latest report by Open Doors.
The MET said that the number of Vietnamese students studying overseas was rising very fast, with the current figure around 110,000 in 47 countries and territories. Their academic level ranges from high school to postgraduate.
Among the overseas students, about 10 per cent of them are on scholarships from the government.