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A huge difference between the two countries is that in the Philippines, everyone speaks English. To me that's a big advantage. In Vietnam, the level of English is going to be really low for most people. My suggestion is to skip Vietnam and go the Philippines.
Interesting reading this thread. I was in Vietnam for three years and just recently moved to the Philippines. I still love Vietnam and consider it home but I'm having a blast here. No plans on leaving anytime soon. Still trying out different locations a month at a time, trying to find my long term home base.