This chapter aims to trace the formation and impacts of neoliberal education in Vietnam and its implications for the country's socialist-oriented market economic transition. The autonomy and socialisation policies that aimed to solve the triple challenge of poverty, inequality, and unemployment reflect a market-infused approach to education, whereby universal low-fee state provision of education is increasingly undermined by commodification and where possible, privatisation of education. Under neoliberal reforms endorsed by supranational institutions and national elites, some areas of education have experienced progressive achievements that help the country join the world's high human development category group to surpass other countries with similar levels of development. That being said, the present evolution in the education system has been accompanied with relatively high risks of class inequalities and educationalisation induced by neoliberal capitalism. This chapter further sheds new light on as to why neoliberalism is a useful lens for understanding the political economy and nature of power in education development under the neoliberal global forces that has been profoundly impacting Vietnamese society.