Over the past 10 years the Vietnamese economy has been growing at a staggering rate. From this growth has emerged a thirst for technology and knowledge which has positioned Vietnam as the new global destination for outsourcing ranging from manufacturing to IT.

There are six key factors that put Vietnam in an ideal position to solidify itself the alternative to outsourcing to countries like India and China.

1. Price: The labor costs in Vietnam are significantly lower than many other companies.

2. Labor Force: Vietnam has a young and passionate labor force which has a 96% literacy rate with a focus on building its scientific and technological knowledge.

3. Business Environment: Vietnam’s laws and public policies favor business and foreign investment and the country is constantly strengthening its protection and enforcement of intellectual property rights.

4. Economic Stability: Vietnam joined the World Trade Organization in 2008 and over the past 6-10 years has had very high GDP growth. Foreign direct investment (FDI) tipped 60 billion USD in 2008 with major commitments from global companies such as Intel and more than 26 billion committed to infrastructure and real estate.

5. Communication: Being able to communication in English is very important to consider when looking for an outsourcing partner. Here in Vietnam, most university graduates can read and write competent English. Spoken English, however, is currently of low quality but is improving.

6. Socio-Economic Stability

• Political Stability: The current Vietnamese government has been in place over 30 years, with strong relationships built with neighboring countries.

• Ethnic/Religious Stability: There are no ethnic/religious conflicts in Vietnam.

If you are looking for your ideal web outsourcing partner contact us today via email for more information on how we can partner together.