A recent report by Raconteur shows that a number of countries are catching up India and other traditional outsourcing destinations with Vietnam coming in at number 10.
Vietnam has been named as one of the UK government’s trade arm’s 20 high-growth nations and economists believe it has huge potential in the long run.
Notably, 60 per cent of its population of 90 million is aged under 30 and the Vietnamese authorities are working hard to create a broadly based and more highly skilled workforce.
This makes it a contender to become a major outsourcing destination in the future and, according to a recent report by accountancy firm KPMG, it is already considered an attractive destination for IT outsourcing services thanks to its young and well-trained workforce, competitive cost structure and stable business environment.
Around 98 per cent of respondents to the survey rated Vietnam as an attractive market for IT outsourcing business and indicated they will invest in expanding there.
The survey also found the labour force in Vietnam to be eager, hard-working and quick to adapt to technological change, although language skills seem to be a barrier.
View the full Raconteur report here