As more companies are outsourcing jobs around the world, entrepreneurs are constantly looking for the next budding region with skilled inexpensive labor. Vietnam is becoming one of those countries. This has been a result of their large and educated population prime to be used in the IT industry. BBC explains:
“Vietnam has moved a long way from being a technology backwater to become one of the fastest growing IT markets.
Thinh Nguyen, a former Silicon Valley executive, who has been working in Vietnam for the last decade, says the changes have been “staggering”.
Mr Thinh left Vietnam in 1975 when the war ended, but came back to start up Pyramid Software Development in Ho Chi Minh City in 2002. He since sold the company and is now working as a consultant.
“Ten years ago, you could count the number of IT companies using your fingers,” he says.
Now there are more than 750 software companies employing some 35,000 people. Among them, 150 are outsourcing firms.
Industry sources suggest that Vietnam is currently among the top five outsourcing destinations in Asia.
Vietnamese companies are manufacturing software and games for foreign companies, and are starting to export mobile phone apps overseas.
A young population and cheap labour costs are two major advantages that many start-ups have been tapping. The government in Vietnam has also been very encouraging, seeing information technology as beneficial for the country’s economy.”
