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Grab Vietnam’s $25B Education Tiger by the Tail
Chair of Growth and EdTechNZ member Tim Haynes, CEO and Co-founder of Neurofrog, shares insights from the Prime Minister’s Trade Mission to Vietnam, highlighting the immense opportunities for New Zealand’s EdTech sector. In his article, Tim explores Vietnam’s booming education market, its digital transformation initiatives, and how collaboration between nations can unlock a golden era of education-led growth in ASEAN.
Our 50-year relationship with Vietnam has just reached a new milestone with the NZ-Vietnam Strategic Partnership Upgrade, signalling a golden era of collaborative opportunities in education.
Vietnam is more than a market; it’s a gateway to ASEAN and the thriving Confucian Tiger economies, offering unmatched opportunities for New Zealand’s EdTech sector. In today’s interconnected world, collaboration drives success, and Vietnam is poised to become the latest Tiger economy to roar, creating an ideal platform for transformative partnerships.
NZ-Vietnam Trade Mission
During the recent PM Christopher Luxon Trade Mission to Vietnam, we witnessed firsthand the power of soft diplomacy and top-down relationships in Asia. NZ Inc (MFAT + ENZ + NZTE + New Zealand Consulate-General) worked like a well-oiled machine, showcasing New Zealand’s trusted reputation to support Vietnam’s appetite for education, technology, and innovative solutions.
Vietnam: A Strategic Entry Point
Vietnam stands out as a high-growth, less saturated market with massive government-led reforms driving its digital transformation. It is one of Asia’s fastest-growing economies, with its middle class projected to expand to 26 million (26%) by 2026, reflecting steady economic expansion and rising incomes.
Vietnam’s young, dynamic workforce places a strong cultural emphasis on education, positioning the country as an ideal gateway to neighbouring Confucian markets such as China, Japan, South Korea, Taiwan, Singapore, and the broader ASEAN region. These economies prioritise cognitive capital development, driving significant demand for education-focused products and services.
Digital Transformation: A Catalyst for Opportunity
Vietnam’s government is heavily investing in its digital transformation, aiming to become an advanced digital economy. This includes massive upskilling initiatives in education, AI, technology, and innovation to power the nation’s brain economy. For New Zealand EdTech companies, this represents a once-in-a-generation opportunity to align with Vietnam’s ambitions by offering solutions that support their education-led digital transformation.
Collaboration: The Competitive Advantage
In our interconnected world, collaboration drives success. For NZ EdTech exporters, working together and forming partnerships with fellow EdTech companies and Vietnamese partners is essential to unlocking the immense opportunities in this dynamic market. Great collaborations don’t just extract value — they create it, driving mutual growth and innovation.
By combining resources, expertise, and market insights, collaboration reduces barriers to entry, such as navigating cultural and regulatory complexities, while adding immediate value. The upgraded strategic partnership between New Zealand and Vietnam further lowers barriers like tariffs and simplifies operations, paving the way for deeper, more impactful collaborations.
Flexibility in Go-to-Market Strategy
Adapting your go-to-market (GTM) strategy is essential for success in Vietnam. Tailoring product offerings and business models to navigate the urban-rural divide, align with Confucian values, and accommodate varying income levels is key. Building strong relationships on the ground is critical — Vietnam thrives on trust-based partnerships and top-down relationships.
Takeaways for NZ Education Exporters
• Prioritise Partnerships: Collaborate with NZ EdTech and Vietnamese partners to share expertise and resources and establish boots on the ground to navigate cultural and regulatory landscapes effectively.
• Go Digital: A strong digital strategy and mindset aligns with Vietnam’s transformation goals.
• Be Adaptive: Tailor offerings to Vietnam’s unique needs while respecting Confucian values.
• Leverage Trade Agreements: NZ EdTech can leverage CPTPP and AANZFTA to reduce costs and support Vietnam’s education modernisation and digital transformation.
Why Now?
Vietnam is ready to roar as the next Tiger, with a booming economy, a middle class projected to reach 26M by 2026, and significant investments in education. With English as the official second language and strong government support, Vietnam offers a unique opportunity for New Zealand’s EdTech sector as the gateway to ASEAN markets. Through collaboration and innovation, we can shape this golden era of education-led growth.
Together, we’re stronger!
