Vietnam offers many advantages for international IT buyers. These advantages include:
- A Large and Growing Talent Pool
- Political Stability and Government Support
- A Great Geographic Location
- Top Rankings in Global Outsourcing Studies
Let’s look at each of these advantages and what they mean for you.
A Large and Growing Talent Pool
With more than 100,000 software developers and 75,000 digital content specialists currently in the IT workforce, Vietnam provides a deep talent pool for international tech companies. And with over 40,000 new graduates from IT-related programs each year, the IT workforce is growing rapidly.
Why such rapid growth? Vietnam has a young, tech-savvy population with a strong interest in IT careers. Students gain exposure to computer science at a younger age than in many Western countries, and gain high marks in international science and technology exams. And industry surveys show a passion for technology that is unique and impressive.
Political Stability and Government Support
Vietnam’s government is strongly committed to growing its tech industry. Policies to promote the industry include special enterprise zones, tax breaks and grants for tech companies. They also include infrastructure investments like new software parks and improved ICT connectivity.
These are not temporary policies. As a one-party state with firm political leadership, Vietnam’s leaders are able to make strong, long-term decisions. Political stability also means social stability. While some IT hubs have unpredictable government policies and occasional social upheaval, Vietnam offers consistency and reliability.
A Great Geographic Location
Located in Southeast Asia, Vietnam sits just a few time zones behind Japan, Korea, Australia and other leading economies in the Asia-Pacific region. Likewise, Vietnam is just a few time zones ahead of Germany, the United Kingdom, France and other leading European countries. Daytime, synchronous communication is easy, and development centers are just a short flight away.
Although far from North America, Vietnam is also a major supplier of IT services to companies in Canada and the United States. The time difference is rarely an issue, and sometimes even an advantage in situations when development, maintenance and testing work is best done at night.
Top Rankings in Global Outsourcing Studies
Don’t just take our word for it. Numerous studies by independent research and consulting firms rank Vietnam as one of the world’s most competitive and promising outsourcing destinations. In 2011, AT Kearney’s Global Services Location Index rated Vietnam as having the #1 most financially attractive workforce in the world. In 2014, Vietnam was listed as one of Gartner’s Top 30 Offshore Services Locations. And in 2015, both Ho Chi Minh City and Hanoi ranked as Top 20 cities in the Tholons Top 100 Outsourcing Destinations study.
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