With the growing influx of jobs in the outsourcing industry, companies are looking for locations with lucrative prospects. While countries like China and India are the prime destinations for Tech Outsourcing, the rising cost of outsourcing in response to high demand and competition in these regions are forcing IT providers to look for more affordable and hence profitable locations for their outsourcing needs. And the prime pick for most Tech Giants is the small island nation of Vietnam. With top companies like LG, Samsung, Microsoft and Intel having already invested and reaped heavy benefits from their startup projects in Vietnam, the nation now seems to have potential Outsourcing hub written all over it. Many companies, both small scale and large scale alike are eying Vietnam as their new outsourcing destination.
While it may seem as though Vietnam has the potential to be the next big outsourcing host, the country at the moment lacks the resources and infrastructure for large scale projects by multinational companies, says Josh Lieberman, President of KMS technology, in his report on the subject. This however is only minor setback that could be solved in the near future and does not in any way curtail Vietnam’s chances at becoming a major outsourcing hub in the not so distant future. Lieberman states that Vietnam’s potential for this industry was first realized when it achieved a ‘Good’ rating from Gartner in 2010 when it was named one of the top 30 countries for offshore services. This year’s report states that the country has advanced tremendously and is considered an emerging market right alongside India and China.
Despite its several setbacks the education standards in Vietnam and pretty high today and the IT skills are developed to such an extent that it has the potential to surpass India. Along with this Vietnam is also undergoing a transformation in regards to technology with the rise of several local companies seeing fair amount of success. This has given a boost to the IT industry within the country, encouraging students to take up IT. The level of commitment and loyalty found everywhere in Vietnam only increases its chances in this industry.
Vietnam may still be new to the industry and it still has a long way to go to turn its potential in this industry to reality, but the way Vietnam has been progressing in this industry and all the developments that have come to this country in the recent years point to a bright and prosperous future.