Vietnam’s software outsourcing industry has been gaining in popularity fast during the last 10 years. The global tech community depends on Vietnam to get quality software solutions at affordable prices. Being one of the best outsourcing destinations in Asia, Vietnam perfectly meets the expectations of a large number of international companies.
60% of the Vietnamese population is under 30 years of age
The population of Vietnam is over 97 million people. People under 30 years of age constitute 60% of the entire population. The young generation has been getting a good education in this country. You can find a large number of young people who are pursuing rewarding IT careers with great enthusiasm.
The vast pool of skilled technical engineering graduates and IT professionals
The dynamic young Vietnamese generation offers a vast pool of accomplished software developers. This pool is good enough to fulfill the ever-growing offshore development needs of different enterprises. You need to realize that more than 25,000 technical engineering graduates are coming out every year from different universities in Vietnam.
The most prominent reason that makes Vietnam one of the most sought-after software outsourcing destinations is the availability of a highly-skilled IT workforce. Many people believe that Vietnam has the potential to become a second Silicon Valley. The abundance of talent makes this country a perfect choice for software outsourcing.
Young software developers and other IT professionals in Vietnam have the expertise to make use of cutting edge technologies such as cloud computing, machine learning, the internet of things (IoT), and blockchain to deliver outstanding software solutions. Moreover, these young people have hands-on experience working with many large scale projects. They apply their creativity and technical brilliance judiciously to offer the finest quality software outsourcing services for their clients.
Language is no longer a barrier
The English language barrier was a major constraint that Vietnam had to deal with while competing with other software outsourcing countries. This issue does not exist anymore. As mentioned above, the younger generation in Vietnam has better education and is proficient in the English language. They can communicate with the clients in the English-speaking countries fluently.
Competitive outsourcing cost is another significant reason that makes Vietnam special. According to the CIO Magazine, Vietnam is approximately 90% cheaper compared to developing software in the USA. This factor attracts many global giants to rely on Vietnam to meet their software outsourcing requirements.
If you compare Vietnam’s outsourcing industry with other major outsourcing destinations in Asia like India, you can find that software development prices in Vietnam are extremely cheap. The CIO Magazine also suggests that the costs charged by the Vietnamese outsourcing companies are one-third times cheaper than their Indian counterparts.
Stable government policies and fast economic growth rate
Vietnam easily finds a place in the list of most politically stable countries in SouthEast Asia. The economy has been experiencing rapid growth for the last 30 years. Both of these factors play an important part in strengthening the Vietnam software outsourcing industry.
During the last 15 years, this country has been undergoing tremendous transformation. According to the World Bank statistics, the GDP per capita in Vietnam increased by 2.7 times between 2002 and 2018. It crossed $2700 in 2019. The World Bank says that 45 million people were lifted out of poverty during this period.
The GDP per capita in Vietnam is expected to reach $2185 by the end of 2020, according to Trading Economics. Various factors such as economic stability, right policies, and proper governance contributed immensely to the rapid progress of Vietnam.
Availability of trusted outsourcing companies
Today, you can come across a wide variety of software outsourcing providers in Vietnam. Many clients worldwide are searching for a trusted service provider with a good track record. Vietnam is home to several top service providers like ICTS, Saigon Technology, who have customers in many countries including the USA, Australia, Singapore, Canada, Germany, Norway, France, and more.
Leading software outsourcing companies in Vietnam offer offshore software development services of exceptional quality at incredibly affordable prices. You can also find them providing the best quality custom software development, software outsourcing, web application, mobile app development, and UI/UX design solutions.
The unique combination of high-quality services and cheap prices easily makes Vietnam one of the best destinations in the world. The vast pool of young software developers with good proficiency in the English language makes this country globally competitive. All these aspects motivate many global tech companies to explore the tremendous possibilities of offshore development in Vietnam. The Vietnam software outsourcing industry has the best answers and solutions to all your technology-related outsourcing needs.