This chapter examines the evolution of private education in Vietnam from its historical roots through contemporary developments. Drawing on historical analysis and empirical data, the study traces how private education emerged as a response to excess demand during the post-Đổi Mới period of the late 1980s and evolved into a differentiated sector serving diverse educational needs. The analysis identifies key typologies of private schools in Vietnam—religious, non-public, private, and foreign-invested institutions—and examines their distinctive features in finance, administration, and academic programs. Statistical evidence reveals that, despite its peripheral size in Vietnam’s education system, the private sector plays certain roles in access (in)equity and quality. More specifically, while private schools offer potentially higher teaching quality (itself a contentious argument) and better facilities, they demonstrate limited inclusion of underprivileged groups. This research contributes to understanding how private education has been shaped by Vietnam’s shifting socioeconomic and political contexts, suggesting that its future development will likely continue along the trajectory of addressing differentiated demands rather than merely absorbing excess capacity in the education system.