In the context of fundamental and comprehensive reform of education and training, physical education plays an increasingly important role in developing human resources with the physical fitness, adaptability, and capacity required to work in modern professional environments. At technical universities, physical education not only contributes to improving health but also helps students develop professional discipline, collaborative skills, and a long-term commitment to physical exercise. This study aims to assess the current status of physical education for students at technical universities, examine the factors influencing its effectiveness, and propose solutions for improving physical education in the context of comprehensive educational reform. The study employs a mixed-methods approach, combining document analysis and synthesis, policy analysis, descriptive statistics, and a survey of 175 administrators, lecturers, and students at seven technical universities in Ho Chi Minh City. The findings indicate that physical education has made positive progress in awareness, the organization of activities, and supporting conditions. However, implementation effectiveness continues to be influenced by institutional governance, lecturer competencies, physical facilities, student motivation, and coordination mechanisms among stakeholders. Accordingly, the study proposes five groups of solutions: curriculum reform, innovative teaching methods, increased investment in physical facilities and digital transformation, the development of a campus environment that promotes a culture of physical exercise, and improved governance mechanisms accompanied by stronger collaboration among universities, enterprises, and society to enhance the quality of physical education for students at technical universities.