This study examines the changes inVietnam's primary and secondary education over the past20 years as well as key factors that affect such criticaleducational outcomes as attendance, grade attainment, andstudent achievement in order to derive implications forpublic education policy. It is divided into an analyticalreport and shorter overview/policy report. The study findssignificant improvement in attendance, attainment, andachievement across all populations. Nonetheless, vulnerablepopulations (in particular the poorest and ethnicminorities) continue to fare poorly as a result ofpersistent, and in some cases, increasing inequalities ineducational attainment and poor student achievement.Educational attainment and achievement are also shown to becomplementary to a large extent. Despite the methodologicallimitations, evidence consistently confirms that certaincharacteristics of schools and teachers are significantlyrelated to both educational outcomes. This opens the doorfor public policy and provides multiple (potential) policies'entrance points' for addressing the remainingchallenges. Some measures have implications for publicfunding, its priorities and/or efficiency, and others aremore closely related to the management of publicinstitutions. Some of the main policy implications derivedfrom the analytical findings are re-asserting or expandingpriorities for public funding through expanding support forthe Fundamental School Quality Level (FSQL), and supportingfull day schooling and conditional cash transfers forvulnerable groups; improving spending efficiency throughbetter targeted fee exemptions and the strengthenedapplication of teacher standards; and improving themanagement of public sector schools through higherprincipals' management capacity, strengthenedaccountability of schools to their communities and better information.