WHY EXHIBIT

According to TTC edu, Vietnam’s private education market is valued at about 17 trillion won, growing at an average annual rate of 12%. Despite the GDP size of Korea being about 9.5 times larger than Vietnam, the size of Vietnam’s private education market is 1.5 times larger. Vietnam has a total school-age population of 30 million, and its education budget has consistently been 4.9% of GDP over the past decade, the highest in Southeast Asia. From 2011 to 2020, the share of the education budget in the national budget ranged from 17 to 18 percent annually, or 4.9% of GDP. This percentage is higher than that of neighboring countries like Cambodia (1.9%) and Laos (3.3%), as well as education leader Singapore (2.9%). It also surpasses Indonesia (17.5%) and the United States (13%), although it is lower than Singapore’s 19.9%. According to the revised Education Law of 2019, Vietnam’s education budget must allocate at least 20% of the national budget to education.