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This book, drawing on a political economic perspective of education development, is a comprehensive account of the question "why some education systems flourish while others falter." It provides a state-of-the-art review of the Vietnamese way of education development, figuring out the pitfalls, challenges and opportunities of neoliberal reform. It also sheds new light on the rise of neoliberal capitalism in contemporary Vietnam as the country intensifies its market-oriented economic transition. Starting from educational development concerns, this book differentiates the growth and development concepts in education. While "growth with limited development" is well reflected in many developing education systems, the Vietnamese experience of education development stands to provide readers with unique insights about education in developing economies, especially in understanding how a socialist-oriented education system is struggling to thrive in the times of neoliberal capitalism. Authored by scholars specialising in Vietnamese education and politics, the chapters address key issues pertaining to the political economy of education reform in Vietnam and the government's enduring efforts to drive education toward international standards through its costly market-infused education reforms. This book will appeal to postgraduate students, educators, educational policy-makers and scholars interested in Vietnamese studies, Vietnam education reforms, education governance, education for sustainability, internationalisation of education and the politics of education reforms.