INSPIUS is a Vietnam software company. We have been a software development service provider for the Singapore market for over six years. While building our network with Singapore startups, we noticed they often shared a similar concern: “Is software outsourcing in Vietnam suitable for my business?”
By the end of this article, you should be able to answer this question.
When talking about Vietnam, we have to acknowledge the fact that Vietnam is one of the fastest-growing economies in the South East Asia region. According to Channel News Asia (CNA), Vietnam has a robust annual growth of 6% since 2010. In 2019 alone, the country received over 38.2 US$ billion of foreign direct investment (FDI), which increased by 7.2% compared to 2018. And for Singapore, Vietnam is its strategic economic partner for years:
- Singapore was Vietnam’s third-largest investor in 2019, with a total investment of US$4.5 billion.
- Singapore’s Direct Investments Abroad (DIA) into Vietnam has more than tripled in the last decade.
- The seven Vietnam-Singapore Industrial Parks (VSIPs) have attracted over US$12.9 billion in investment from more than 800 companies as of 2018.
Another interesting thing about Vietnam’s economy is the main factor behind Vietnam’s growth. In the article “4 factors turning Vietnam into Southeast Asia’s next growth story”, techinasia.com specified, one of the hidden factors that contribute to Vietnam’s growth is its tech talents. Vietnam has:
- ~30,000 IT companies
- ~80,000 IT universities graduates every year
Those resources provide a giant workforce for IT-related industries, and also make Vietnam a potential partner for software outsourcing service in the region. In fact, Vietnam has already surpassed China to become the second-largest software outsourcing partner of Japan.
Why Vietnam software company & Vietnam software engineer?
Going through articles about Vietnam’s youth around 3-5 years ago, you can easily find articles similar to this one from CNA. Singapore media had already portrayed Vietnamese’s youth as:
- Ambitious and smart
- Talented, especially in technology
And they all predicted Vietnam would become a talent hub for tech businesses within a few years, and tech startups would be booming in Vietnam.
Now, in 2020, that prediction was proven. Vietnam software companies and tech startups regularly appear in business journals like techinasia.com, e27.co, or businessinsider.sg. These movements have shaped a unique working culture in the Vietnam software engineer community.
Based on our years of experience in helping connect Singapore tech startups with Vietnam tech talents, we have identified a few great qualities of Vietnam software engineer that can benefit Singapore businesses:
- Smart and equipped with a strong math base due to Vietnam’s education policy.
- Tech-savvy and highly exposed to the latest technology, thanks to Vietnam technology advancement.
- Highly responsible and entrepreneurial-minded.
- A hard-working, creative, and meticulous working style that they inherited Vietnam culture.
All these have made the Vietnamese developer talent pool become one of the most competitive talent groups in the South East Asia region and created a strong base for businesses exploring software outsourcing in Vietnam.
Software Outsourcing in Vietnam & Vietnam software engineer, What’s the catch?
Having a good talent pool means nothing if you fail to plan what you are looking for first. If you want to start software outsourcing in Vietnam, take a look at the following points in our previous article 7 points to look out for when your company wants to hire Vietnam software engineer:
An in-depth understanding of what you are looking for and what challenges you will have to solve in advance will help you process faster and be able to find the gold in the sand.
In case you are finding a local Singapore partner that can help you set up an Agile/SCRUM team for software outsourcing in Vietnam, Inspius has more than six years of experience in assisting Singapore startups with a similar plan. With our certified SCRUM masters and effective practices of agile methodology, we are always ready to jump in and help you to realize any projects successfully.
Drop us an inquiry to discuss how we can help!