During the Fourth Industrial Revolution, many organizations are looking beyond their own teams to support their transition to predominantly digital business practices. The ever more pressing need to innovate is accelerating these transformations.
Combined with the growing digital skills gap, leaders in both government and private enterprises are increasingly looking to outsourced IT services and support to efficiently address their pressing needs. However, finding the right location combining geography, the digital skills you need, and an attractive business environment is difficult.
Hanoi, Vietnam, has all of these key factors. Let’s explore why it should be your next location for outsourcing IT talent.
1. Dynamic and Growing Economy
Vietnam is ideally located to serve some of the fastest-growing digital economies in the world including China, The Philippines, and Malaysia.
With a population of just under 98 million people and a median age of 32.5, the country is rich with young workers hungry to develop their digital expertise. Moreover, Vietnam enjoys one of the highest adult literacy rates in the world at 95.8% which speaks to its robust and modern education system.
Hanoi houses over 30 universities and educational institutes and Vietnam is home to over 14,000 IT businesses including hardware, software, and digital content.
2. Highly Skilled Talent Pool
Alongside excellent opportunities for higher learning, students and workers in Vietnam have access to widespread technical infrastructure. As of January 2022, internet penetration had reached 73% of the population, making the digital landscape accessible to over 72 million people.
There were over 2.7 million students in upper secondary education in Vietnam in 2021 and the country is expected to rank in the top 3 globally for the number of engineers by 2024.
Finally, more than 50% of the population can speak English to a high degree of proficiency meaning that domestic support markets have the flexibility to service American and
European companies. Compared to other popular outsourcing locations like India and Poland, of which 12% and 37% speak English respectively, this ensures that the majority of talent will possess a key advantage in providing these services.
3. Commitment to IT
Vietnam’s IT market is among the fastest growing in the world, already valued at over $20 billion in 2019 and expected to grow at a rate of 10-15% between 2021 and 2025.
This explosion of IT investment is largely thanks to the Vietnamese government’s vocal support of a digital future in the country. The National Digital Transformation Program has been particularly instrumental in this endeavor, having set the following digital objectives for Vietnam by 2025:
- Vietnam will be among the top 50 countries in information technology
- The digital economy will account for 20% of GDP
- 50% of inspection activities of state management agencies will be conducted digitally
These are just a taste of the program’s widespread vision for Vietnam in the next decade and indicate a united effort to turn the country into a digital leader in the region.
Tek Experts in Vietnam
Based on the country-wide digital objectives and impressive talent pools, Tek Experts established a presence in Hanoi in 2013. Our state-of-the-art office space is situated in the iconic Lotte Building where over 500 engineers provide technical support and services in both English and Vietnamese to Fortune 500 companies based around the world.
We’re working to develop the skills and talent to further grow our presence in Hanoi and are excited about our potential to expand. Ultimately, however, a truly robust IT support outsourcing strategy should be equipped to serve customers around the world. That’s why it’s so important to develop operations in several locations. Discover 7 great locations IT services and support have proven to be successful to help you choose your ideal partner.