The University of Medicine and Pharmacy at Ho Chi Minh City (UMP) became Vietnam’s first medical university to reach the billion-VND revenue mark, recording a total revenue of approximately $63 million in 2023. Tuition fees accounted for less than half of this amount.

According to UMP’s statistics, the university’s revenue of $63 million in 2023 came from two main sources: $27.5 million from tuition fees and $34.5 million from other legitimate sources. This makes UMP the first medical university in Vietnam to join the club of billion-VND universities.

Billion-VND universities in Vietnam

Currently, Vietnam has 11 universities with annual revenue exceeding $42 million, including 7 public and 4 private institutions.

Public universities with billion-VND revenue:

Hanoi University of Science and Technology (HUST)

National Economics University

University of Economics Ho Chi Minh City

Ton Duc Thang University

Industrial University of Ho Chi Minh City

Ho Chi Minh City University of Technology

University of Medicine and Pharmacy at Ho Chi Minh City

Private universities with billion-VND revenue:

FPT University

Ho Chi Minh City University of Technology (HUTECH)

Nguyen Tat Thanh University

Van Lang University

Revenue sources and disparities

Most of the revenue of these universities comes from tuition fees, while revenue from scientific research and technology transfer remains relatively modest.

For example, Ton Duc Thang University reported a total revenue of $47 million in 2023, of which $40.5 million came from tuition fees. Revenue from scientific research, innovation, knowledge transfer, and sponsorship accounted for just $2.2 million, while other legitimate sources brought in $4.3 million.

Similarly, Industrial University of Ho Chi Minh City generated $42 million in revenue in 2023, with $38 million from tuition fees and only $180,000 from scientific and technological research — less than half of the previous year’s figure of $380,000.

Hanoi University of Science and Technology (HUST), despite being Vietnam's top engineering university, recorded revenue of $87 million in 2023, with $58 million from tuition fees and $11.8 million from scientific research and technology transfer. This represents a twofold increase from the university’s revenue in 2022.

National Economics University reported a revenue of over $57 million in 2023, with $41 million from tuition fees and $13.6 million from other sources, while revenue from scientific research and technology transfer reached $1.8 million.

University of Economics Ho Chi Minh City generated a total revenue of $71 million in 2023, of which $44 million came from tuition fees, $21.6 million from research and technology transfer, and $4.8 million from other legitimate sources.

Ho Chi Minh City University of Technology also recorded $42 million in revenue, with $28 million from tuition fees, $1.8 million from scientific research and technology transfer, $4.3 million from other sources, and $4.2 million from the state budget.

Leading private universities

Among private institutions, FPT University tops the list with nearly $120 million in revenue for 2023, followed by Van Lang University with $93.8 million.

Ho Chi Minh City University of Technology (HUTECH) also reported a revenue of $52 million, with $51 million from tuition fees and $460,000 from other sources. Revenue from scientific research and technology transfer reached only $420,000.

Nguyen Tat Thanh University reported $61 million in revenue in 2023, with tuition fees making up 99% ($60 million). Revenue from scientific research and technology transfer totaled $490,000, while other sources contributed $410,000.

Le Huyen