Vietnam is tipped to become a more popular outsourcing destination than both China and India within the next five years.
The bold claim has been made by recruitment company Harvey Nash, which recently acquired Ho Chi Minh-based recruitment business SilkRoad for $1.8 million.
Harvey Nash cited the fact that Vietnam has the second-highest gross domestic product growth after China and that it's now the third-largest offshore-services destination in Southeast Asia.
The Vietnamese labor pool also has about 80,000 IT graduates, a figure that is increasing by 9,000 per year. More than half of Vietnam's 84 million population is under 25 years old, and 83 percent of all graduates are science-based.
But Mark Kobayashi-Hillary, co-author of Global Services: Moving to a Level Playing Field, said Vietnam's growth still pales in comparison to that of China and India, which are each churning out 2.5 million graduates per year.
"There would have to be unbelievable growth in Vietnam. But it's not really about one country competing with another. We are moving towards global services, and the whole pie is getting bigger," he said.
Companies already outsourcing IT services to Vietnam include Honda Motor and Intel.
"With a growing and youthful IT workforce, low costs and high aspirations to develop its software services," SilkRoad CEO Marc Voss said in a statement, "Vietnam is a natural offshore location and has all the ingredients to become the leading market choice in the next few years."
Any country that establishes a trade surplus with the U.S. should be taxed to make up for it and the funds should go directly into Social Security until we can afford to have our own families again and not only through the good will of crooked business owners looking for windfall profits by driving wages down.
Trade deficit? Try trade surplus. According to Forbes, through the first 8 months of this year, the US has a $6.4 Billion trade surplus with Vietnam.
In regards to your idea... isn't the problem with American's not competing on the global market place? Why should Americans be working in factory and other menial labor jobs? Our cost of living is much to high for this. If we really want these kind of jobs, we should stop living a first-world lifestyle, and the jobs will come back.
We need to pour money into re-educating those factory workers to compete on the global marketplace. Dumping money into entitlement programs is not going to fix the root of the problem. Education is the root. Spend our money there (instead of wars!)
Why not offshore high-tech to 'Nam? We've already offshored nut production. The next time you stop by Trader Joe's, read the labels on nut products like cashews. You'll see that they either come from 'Nam or Thailand. The nutcrackers, well of course they are from China. After you eat your 'Nam nuts then you can brush your teeth with Chinese toothpaste.
why is the most recent story on Vietnam IMPOSSIBLE to find on your website and this outdated one featured? Where is "Vietnam becomes crouching tech tiger?"
MIT creates a simulation to celebrate the 50th anniversary of Spacewar. A relic of the early days of minicomputers, it was one of the first computer video games and set the stage for many others, including Asteroids.
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AstrologyDating.com is a new site that tries to find you your perfect love on the basis of birth date, birth time, and birthplace. But will it tell you the truth? Well, it asks you to pay only per match. So I tried it.
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Tor's "obfsproxy" technology would make encrypted data look innocuous and let it dodge government censors. That could help citizens in Iran reach blocked sites as antigovernment protests reportedly loom.
iPhones and Angry Birds aside, the arcade endures. Crave pays a visit--and offers up an homage to games and gamers of years past and a tribute to the possibly endangered, but not yet dead, atmosphere of the arcade itself.
Any country that establishes a trade surplus with the U.S. should be taxed to make up for it and the funds should go directly into Social Security until we can afford to have our own families again and not only through the good will of crooked business owners looking for windfall profits by driving wages down.
End of subject.
In regards to your idea... isn't the problem with American's not competing on the global market place? Why should Americans be working in factory and other menial labor jobs? Our cost of living is much to high for this. If we really want these kind of jobs, we should stop living a first-world lifestyle, and the jobs will come back.
We need to pour money into re-educating those factory workers to compete on the global marketplace. Dumping money into entitlement programs is not going to fix the root of the problem. Education is the root. Spend our money there (instead of wars!)
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8x Solutions Inc. - Software Outsourcing Company in HCMC, Vietnam
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