It’s no surprise that Vietnam is being mentioned as an alternative, amid rising costs and attrition rates in popular offshoring destinations like China and India. The General Statistics Office of Vietnam reports the growth of almost 7 per cent in GDP during 2018. As a result, many tech giants like Samsung, Microsoft, LG and Intel have invested in large operations in Vietnam, and a growing number of technology startups have secured investment.
Vietnam has a lot going for it, and it’s a great outsourcing destination for some companies looking to build teams up to a couple of hundred resources, but it doesn’t have the scale for prime time right now for multi-national corporations to set up large-scale development centres.
Surprised Figures and Facts in Vietnam
Large Talent Pool
According to a research of the World Economic Forum in 2015 on 128 countries, Vietnam is in the top 10 countries with most engineering graduates in the world with more than 250,000 graduate students with majority of information technology.
Competitive price based on the quality
IT service quality that Vietnam providing equal to and sometimes exceed what India offering. Additionally, typical labour costs for Vietnam-outsourced IT products and services are as much as 20% less than those in India, and much less than European providers. It means that with the same price, the value you receive will be better in Vietnam than other outsourcing countries.
Language
As English is considered as a global language, Vietnam quickly universalize it as the top requirements in working nowadays, especially in the IT industry. You can secure an articulate and consultative workforce with good verbal and written English if you know where to look.
Economic Outlook
Vietnam’s dynamic economic growth attracts a lot of attention as it is expected to grow by 6.8% in 2019, and 6.9% in 2020,. Almost world economic experts believe in the fruitful future of Vietnam to be able to rival larger competitors, competitors as China and India soon.
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