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| Vietnam is being recognized as a cost-effective and high-quality IT solution in Asia |
The commercial operations and technological advancement of information technology businesses in Vietnam place a high priority on outsourcing. Businesses all around the world are using this as one of their ultimate answers as they all want to lower operational expenses and boost profits from their operations.
The outsourcing industry is less impacted by economic downturns and societal problems like the most recent COVID-19 outbreak than other industries. On the contrary, both in Europe and the US, there is a greater demand for outsourcing as a result of the recession in many economic areas.
With this approach, outsourcing also helps businesses reduce other unnecessary costs and project quality management is more assured. Software development companies do not need all the programmers working on the same project to be in the same location as they can easily share their progress and update through the internet.
While outsourcing benefits corporations by generating enormous profits, it also helps to increase employment in developing nations. It can be said that software outsourcing is a strategic industry for many IT companies in Vietnam today.
What are the advantages that Vietnam possesses?
The IT sector in Vietnam has advanced significantly in recent years, emerging as a crucial sector of the nation's infrastructure for socioeconomic growth and as a cutting-edge approach to boosting competitiveness on a global scale. In both Asia and the rest of the globe, Vietnam is currently regarded as a growing technology hub with around 1 million people working in the IT sector, including about 250,000 programmers.
From its agricultural roots, Vietnam's economy has undergone a significant transformation. Vietnam entered the World Trade Organization (WTO) in 2007 as a nation without political unrest and with a stable & expanding economy. Since then, the government has worked hard to attract foreign investment, which has boosted economic growth.
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| Vietnam is currently regarded as a growing technology hub with around 1 million people working in the IT sector |
Vietnam is seen by Forbes as a rising star in the IT outsourcing industry. A highly adaptable approach toward work and technology is what global corporations observe when they visit Vietnam.
Most of those firms agree that Vietnamese technologists are able to challenge the status quo and develop novel ideas while feeling at ease working with a worldwide network of clients. As a result, Vietnamese engineers are attracted to being hired by multinational technology organizations.
That’s why the Vietnam IT sector is consistently rated as one of the most labor-intensive industries. The development of these human resources is a top goal in the Government of Vietnam's digital transformation plan.
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| Vietnamese workers are frequently seen as being extremely devoted to the companies they work for |
From the angle of education, English instruction has received a lot of attention in the past 20 years from Vietnamese educational institutions because it is currently the language for worldwide communication. There are around 40,000 fresh graduates – from nearly 300 IT Institutions in Vietnam – who start working in the field of information and communication technology every year.
One factor that is said to be favorable for IT development in that stage is that Vietnamese workers are frequently seen as being extremely devoted to the companies they work for. They frequently prefer to work locally and show loyalty to the businesses in which they are employed. Additionally, hiring a developer in Vietnam is substantially less expensive than hiring one in the US, Europe, or another region like India or China.
Since cutting costs is the primary objective of outsourcing, and since Vietnamese IT talent has been recognized, this is a winning combination for businesses looking to outsource with superior personnel and at a reduced cost.
Quan Dinh H.
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