Software development outsourcing takes place in Vietnam for many of the world’s most prominent tech organizations. This synergy is the result of the best people, cutting-edge technology, and incredible cost-efficiency.
Leading US technology firms, including Intel, IBM, and Microsoft, have recently made significant investments in Vietnam. Many tech businesses from wealthy countries like Japan and Australia have established offices and engaged software developers in Vietnam in the past few years. On a global scale, the style is growing more and more popular.
There are several reasons why Vietnam is the most excellent place to outsource software development services.
- Fast economic growth and stable government policies
- Vietnam is one of Southeast Asia’s most politically stable nations.
- Vietnam is one of Southeast Asia’s most stable countries.
For the past three decades, Vietnam’s economy has grown at a remarkable pace, making it one of Southeast Asia’s most politically stable nations. Both of these aspects are critical to the growth of Vietnam’s software outsourcing company.
It is estimated that between 2002 and 2018, the country’s GDP expanded by 2,7 times. In 2019, it surpassed $2700. Forty-five million people were rescued from poverty, according to the World Bank. By the end of 2020, Trading Economics predicts that Vietnam’s GDP per capita will be $2185. It was a combination of economic stability, the appropriate policies, and good governance that aided Vietnam’s quick rise in the world. Companies aren’t likely to overlook this factor when searching for software outsourcing partners. Compared to China and India, Vietnam is a more affordable destination for outsourcing software development. As far as software development outsourcing goes, India and China currently hold the top two spots. In the last few years, Vietnam has emerged as a new source of outsourcing work.
Software Outsourcing Rates in 2019 around the world
Because A high-quality software producer can be found in Vietnam thanks to outsourcing, it is estimated that outsourcing software development in Vietnam is around 90% less expensive than employing US employees. The cost of outsourcing software development in Vietnam is one-third to one-seventh lower than in India. Foreign corporations are seriously considering Vietnam as a place for offshore software development based on these numbers. Processing costs will rise as the Indian and Chinese markets reach a point of maturity. Companies wishing to save money by outsourcing to Vietnam have a lot to gain by doing so. This year’s Global Service Location Index 201, which assesses the best countries for outsourcing, put Vietnam in 20th place.
Software engineers in Vietnam are among the best in the world.
More than 60% of the Vietnamese population is under 30 years old, making it one of the world’s “golden populations.” As many as 25,000 Vietnamese engineers are graduating from university each year. As the world’s population ages, Vietnam is entering a “golden population” phase. The English language barrier is no longer an issue for younger Vietnamese, thanks to their improved education. They are competent in English and can communicate effectively with customers in English-speaking countries. Another way to fulfill the rising need for qualified offshore software developers is through software outsourcing.
As the economy grows, so does the country’s reputation as a vibrant and highly-processed nation. It is currently regarded as a respectable country with a safe and sound administration. Among Asian countries, Vietnam was voted the safest in an international study in 2002. Investing in Vietnam is being encouraged by the Vietnamese government. Globalization is a tremendous opportunity for the IT business to take advantage of.
Outsourcing in Vietnam is becoming increasingly popular because of its low cost and high quality. A new chapter in Vietnam outsourcing companies are about to be written. The rest of the world will follow this new wave of offshore software and outsource web development in Vietnam. A new outsourcing destination like Vietnam is ideal for organizations who want to keep up with the times without spending a fortune.
Trustworthy outsourcing companies can be found.
An extensive range of software outsourcing companies is available in Vietnam today. If you want to find outsoruce business process you may need the help of an EOR Company.