The outsourcing development opened new opportunities for businesses. IT outsourcing became a very important cost-cutting measure for thousands of companies. The benefits of outsourcing are incontestable: instead of building their own infrastructure and supporting it, companies outsource it to a third-party and focus on the core of their businesses. They save money, time, and effort. As a form of outsourcing, on-demand software penetrates deeper into the way businesses are built nowadays.
Vietnam is the fourth largest Software Development provider in South East Asia. Vietnam is the friendly country, low crime levels, high aspirations and a growth rate underpinned by a stable government and economy. Every year, there are over 40,000 IT graduates in Vietnam, because Science based subjects are the first choice at Vietnamese Universities. Vietnam’s education system has a bias towards mathematics that has created a ready source of talent for the IT industry.
Moreover, the population of Vietnam is young, literate and increasingly interested in technology. Roughly 70% of population less than 30 years old. This is a strong resource for the industry in general and special in IT industry in particular.
Labor in Vietnam have excellent technical skills, good skills language in Asian and European, flexible in working time zone and highly motivated people determined to succeed.
On other hand, labor cost in Vietnam is considered the cheapest in all potential outsourcing destinations.