Vietnam's Tech Market: Rapid Growth and Expanding Opportunities
GDP increase 6% last 20 years
Import - Export value in 2022: $730 billion
16 FTAs with 60 countries
Global Top 10 fastest growing middle class populations
(35 million people in 2020 to 56 million people in 2030)
Vietnam’s Internet economy growing 31% a year
($23 billion in 2022 to $50 billion in 2025)
Source: Trading Economics (2023), VnExpress (2022), GWTO Center (2023), VnExpress (2021), Google (2022)
100 million
85.7 million
78 million
70 million
Source: General Statistics Office of Vietnam (2023), Vietnamnet (2023)
New destination for software outsourcing
Top 6
leading countries in
offshore business services worldwide
Top 6
best locations for IT outsourcing
Top 3
in Global Offshoring Hotspot
Top 1
in competitive cost
Most preferable
offshoring destination by Japanese companies
Asia Tier 1 emerging market location
and Top 5 location for outsourcing
Top Outsourcing Cities
in 8 consecutive years
Top 6
leading countries in
offshore business services worldwide
Top 6
best locations for IT outsourcing
Top 3
in Global Offshoring Hotspot
Top 1
in competitive cost
Most preferable
offshoring destination by Japanese companies
Asia Tier 1 emerging market location
and Top 5 location for outsourcing
Top Outsourcing Cities
in 8 consecutive years
Source: The Global Services Location Index (2021), Gartner's Leading Global Locations for Offshore Service (2021), ToweWatson, Services Offshoring Ranking (2013), Resorz Co., Ltd (2016),Gartner's Leading Global Locations for Offshore Service (2016),Tholons (2009 - 2016)
Large talent pool for software industry
Top 10 countries with most engineering graduates
One of ASEAN’s largest labor markets, approximately 56 million people, and with a labor participation rate of 76%
More than 50,000 new graduates join the IT workforce every year
Vietnamese technology skills 2nd in Asia Pacific and 22nd globally
IT workforce is approximately 1 million, of which about half are programmers and software engineers
Ranks 7th on the English Proficiency Index out of 24 Asian countries
Source: Research of World Economic Forum in 2015 on 128 countries (Forbes), Medium, Vietnamplus (2023), Vietnam Briefing (2022), Global Skills Index 2020 Report, EF (2022)
Why Ho Chi Minh City?
Largest city in Vietnam
Population: 9.3 million
20% Vietnam GDP
31% Vietnam enterprises
38% Vietnam FDI investment
50 universities
600,000 students
120,000 IT professionals
Global Top 10 cities for expats living and working abroad
Source: Macrotrends, Vietnam Briefing (2023), Vietnamnews(2022)
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