Vietnam's IT sector has witnessed remarkable growth, fueled by a rising middle class, significant infrastructure investment, and a strong emphasis on education. The country's young population, expanding middle class, and increasing internet penetration create a favorable environment for IT businesses. Additionally, Vietnam's strategic location in Southeast Asia provides access to a vast regional market, while its favorable business climate, government support, and abundant tech talent pool further enhance its attractiveness.
https://aniday.com
VIETNAM - INFORMATION TECHNOLOGY – THE SKY IS THE LIMIT – WHAT YOU MUST KNOW:Dr. Oliver Massmann
The document discusses opportunities and challenges in Vietnam's growing information technology sector. It outlines recommendations in three key areas: 1) Allowing more flexibility for outsourcing IT staff and removing restrictions on sublease terms and capital requirements. 2) Improving IT education through international curriculum standards and increased industry collaboration and internships. 3) Increasing Vietnam's international internet bandwidth to attract more investment and make the sector more competitive. The document argues these changes would help Vietnam develop its IT industry and transition to a knowledge-based economy.
“After all, in order to achieve impressive results as other advanced countries, Vietnam needs to accelerate its labor productivity. The confrontation between the world’s development models ultimately lies in the fact that which model creates higher productivity. That is also the reason why we see great world’s powers competing against each other primarily not about trade, but technology. As technology is the way to help Vietnam get rid of its short-sightedness and strive for ambitious visions, the dream of Vietnam becoming an IT nation will soon come true."
In the last 5 years, Vietnam has been going through positive changes in digital transformation, thus moving forward into a digital economy and a digital society. Therefore, the wave of tech startups as well as startup projects from large companies, has continuously been on the rise. With the entire technology industry’s substantial growth in general, it can be said that by 2020, Vietnam will be considered as an IT nation of Southeast Asia. Minister of Information and Communications Nguyen Manh Hung said that an additional 50,000 IT businesses (ICT) is necessary for Vietnam to accelerate its digital transformation. A trend called Make In Vietnam is on a strong momentum where the developers and technology experts have considered more about bringing Vietnamese products to the world. Product companies are gradually showing their appearance.
At present, the IT industry is being evaluated as one of the leading industries in Vietnam. There is a number of more than 153 institutions training 50,000 IT personnel. According to experts’ assessment, Vietnam will be an ideal destination for leading technology companies in the world and the region to have their product development located. Particularly in the Vietnam market, there are numerous small and large startups developing potential projects directly related to AI and Machine Learning, which creates an abundance of outstanding values for the technology industry as a whole.
Report includes:
- Vietnam - New Destination;
- Vietnam - IT Talent Pool;
- Vietnam Developers' Salary;
- Vietnam IT Personnel Supply-Demand
Report by: https://topdev.vn
Why tech-giants move their outsourcing operations to Vietnam- whitepaperTMA Solutions
Major tech giants like Intel, Samsung, Nokia, and others have established outsourcing operations in Vietnam due to its competitive advantages as an outsourcing destination. Key factors driving this include Vietnam's low labor costs which are 90% lower than in the US, favorable tax incentives, a large skilled labor force, socio-economic stability, cultural similarities with the West, and the government's push to develop the IT sector. The document provides an overview of the tech companies in Vietnam and outlines reasons for their growth in the country like cost effectiveness, tax benefits, workforce quality, and political stability.
Thailand is developing its digital infrastructure and transitioning to a digital economy through initiatives like the National Digital Economy Master Plan which aims to improve broadband access, develop data centers and cloud services, and promote tech startups. This will position Thailand as a digital hub in ASEAN and attract investors in growing digital sectors like data centers, where companies like Supernap are investing billions in large new facilities. One example of a successful foreign investment is ThaiGerTec, a Thai-German automotive software company that has gained global attention for its work with companies like BMW and now employs 60 specialists in Thailand.
1) Thailand has actively developed its ICT infrastructure and adopted digital technologies like AI and cloud computing to enhance business efficiency. Mobile activities like e-commerce are also widely embraced.
2) Supported by its digital readiness and strategic location, Thailand has attracted significant investment in its digital transformation and startup community, positioning it as a leading digital economy in Southeast Asia.
3) Thailand provides incentives for digital investment and has improved regulations to promote sectors like fintech and e-commerce. It aims to become a top global startup hub and digital investment destination.
This is a geography presentation focusing on technology and economics with a focus on the UAE. Additionally, these are mentioned: The three main industries; primary, secondary and tertiary sectors. Government spending. Advantages of high-tech economic systems. Risk-taking vs. ventures.
Vietnam has a fast growing digital economy and ICT sector, driven by strong GDP growth, increasing FDI, and government initiatives. The report identifies opportunities in fintech, e-commerce, smart cities, agriculture technology, and skills development to address workforce shortages as Vietnam prepares for Industry 4.0. However, Vietnam faces challenges around infrastructure investment, regulatory reforms, and developing technical skills to fully capitalize on these opportunities by 2025.
The World Economic Forum has recently launched The Global Information Technology Report 2013.
In this presentation we have tried to put some important find outs from the same report and few other news and information from global media.
VIETNAM - INFORMATION TECHNOLOGY – THE SKY IS THE LIMIT – WHAT YOU MUST KNOW:Dr. Oliver Massmann
The document discusses opportunities and challenges in Vietnam's growing information technology sector. It outlines recommendations in three key areas: 1) Allowing more flexibility for outsourcing IT staff and removing restrictions on sublease terms and capital requirements. 2) Improving IT education through international curriculum standards and increased industry collaboration and internships. 3) Increasing Vietnam's international internet bandwidth to attract more investment and make the sector more competitive. The document argues these changes would help Vietnam develop its IT industry and transition to a knowledge-based economy.
“After all, in order to achieve impressive results as other advanced countries, Vietnam needs to accelerate its labor productivity. The confrontation between the world’s development models ultimately lies in the fact that which model creates higher productivity. That is also the reason why we see great world’s powers competing against each other primarily not about trade, but technology. As technology is the way to help Vietnam get rid of its short-sightedness and strive for ambitious visions, the dream of Vietnam becoming an IT nation will soon come true."
In the last 5 years, Vietnam has been going through positive changes in digital transformation, thus moving forward into a digital economy and a digital society. Therefore, the wave of tech startups as well as startup projects from large companies, has continuously been on the rise. With the entire technology industry’s substantial growth in general, it can be said that by 2020, Vietnam will be considered as an IT nation of Southeast Asia. Minister of Information and Communications Nguyen Manh Hung said that an additional 50,000 IT businesses (ICT) is necessary for Vietnam to accelerate its digital transformation. A trend called Make In Vietnam is on a strong momentum where the developers and technology experts have considered more about bringing Vietnamese products to the world. Product companies are gradually showing their appearance.
At present, the IT industry is being evaluated as one of the leading industries in Vietnam. There is a number of more than 153 institutions training 50,000 IT personnel. According to experts’ assessment, Vietnam will be an ideal destination for leading technology companies in the world and the region to have their product development located. Particularly in the Vietnam market, there are numerous small and large startups developing potential projects directly related to AI and Machine Learning, which creates an abundance of outstanding values for the technology industry as a whole.
Report includes:
- Vietnam - New Destination;
- Vietnam - IT Talent Pool;
- Vietnam Developers' Salary;
- Vietnam IT Personnel Supply-Demand
Report by: https://topdev.vn
Why tech-giants move their outsourcing operations to Vietnam- whitepaperTMA Solutions
Major tech giants like Intel, Samsung, Nokia, and others have established outsourcing operations in Vietnam due to its competitive advantages as an outsourcing destination. Key factors driving this include Vietnam's low labor costs which are 90% lower than in the US, favorable tax incentives, a large skilled labor force, socio-economic stability, cultural similarities with the West, and the government's push to develop the IT sector. The document provides an overview of the tech companies in Vietnam and outlines reasons for their growth in the country like cost effectiveness, tax benefits, workforce quality, and political stability.
Thailand is developing its digital infrastructure and transitioning to a digital economy through initiatives like the National Digital Economy Master Plan which aims to improve broadband access, develop data centers and cloud services, and promote tech startups. This will position Thailand as a digital hub in ASEAN and attract investors in growing digital sectors like data centers, where companies like Supernap are investing billions in large new facilities. One example of a successful foreign investment is ThaiGerTec, a Thai-German automotive software company that has gained global attention for its work with companies like BMW and now employs 60 specialists in Thailand.
1) Thailand has actively developed its ICT infrastructure and adopted digital technologies like AI and cloud computing to enhance business efficiency. Mobile activities like e-commerce are also widely embraced.
2) Supported by its digital readiness and strategic location, Thailand has attracted significant investment in its digital transformation and startup community, positioning it as a leading digital economy in Southeast Asia.
3) Thailand provides incentives for digital investment and has improved regulations to promote sectors like fintech and e-commerce. It aims to become a top global startup hub and digital investment destination.
This is a geography presentation focusing on technology and economics with a focus on the UAE. Additionally, these are mentioned: The three main industries; primary, secondary and tertiary sectors. Government spending. Advantages of high-tech economic systems. Risk-taking vs. ventures.
Vietnam has a fast growing digital economy and ICT sector, driven by strong GDP growth, increasing FDI, and government initiatives. The report identifies opportunities in fintech, e-commerce, smart cities, agriculture technology, and skills development to address workforce shortages as Vietnam prepares for Industry 4.0. However, Vietnam faces challenges around infrastructure investment, regulatory reforms, and developing technical skills to fully capitalize on these opportunities by 2025.
The World Economic Forum has recently launched The Global Information Technology Report 2013.
In this presentation we have tried to put some important find outs from the same report and few other news and information from global media.
Thailand is transforming its economy to embrace both industry and the digital sector. The government is establishing a Ministry of Digital Economy and Society and developing a digital economy framework focused on digital commerce, entrepreneurship, innovation, and content. This includes improving infrastructure like broadband networks and data centers. The government is also supporting the growing startup ecosystem and innovative workforce to position Thailand as a digital hub in ASEAN.
The document provides an overview of investment trends and opportunities in Thailand's new Digital Park project. Some key points:
- The Digital Park located in Chonburi province aims to be Thailand's innovation hub, bringing together investors, startups and technology companies.
- Major foreign investors in the park include companies from China, Taiwan, and the US.
- The park consists of zones for private sector innovation, education, and smart living. It aims to accelerate Thailand's digital transformation.
- The Thai government offers various tax incentives through the BOI to promote investment in digital technologies and infrastructure development.
TCI 2015 Samsung Electronics' Manufacturing Complex in VietnamTCI Network
Samsung Electronics has established a large manufacturing complex in Vietnam to take advantage of the country's strategic location, low costs, and growing consumer market. The complex produces smartphones, tablets and other electronics and employs over 100,000 workers. Samsung's investment and operations have helped seed the development of Vietnam's electronics industry by transferring technology, developing the local workforce, and encouraging the growth of local supplier companies. As a result, Vietnam has begun to establish itself as a hub for electronics production and exports in Southeast Asia.
Vietnam software outsourcing , Why is Vietnam, Why is TMA, leading Vietnam software outsourcing company, your quality partner for software outsourcing company
This document discusses Thailand's growing digital economy and leadership in digital transformation in ASEAN. It notes that Thailand has a relatively high internet penetration rate at 66% and is ranked 39th globally in digital competitiveness by IMD. The Thai government is actively promoting technology through its Thailand 4.0 model and a 2016-2036 National Digital Economy Masterplan. Thailand has invested heavily in digital infrastructure like rural broadband and Digital Park Thailand. It also offers a skilled, educated workforce and the SMART Visa program to attract global talent to support its transition to a digital economy and become a regional leader.
The document summarizes the Palestinian ICT sector and opportunities for cooperation with Malta. It outlines that the Palestinian ICT sector has experienced strong growth, currently contributing over $300 million to GDP. It employs over 10,000 workers and has competitive advantages including a young, educated workforce and experience working with global tech companies. The document proposes several areas of cooperation between Palestine and Malta, including developing marketing channels, facilitating investment, pursuing joint R&D projects, and establishing outsourcing opportunities in areas like BPO and ITO.
The Eleventh Malaysia Plan focuses on using ICT to enable knowledge economy growth in key areas like industry, infrastructure, human capital and digital inclusion. These ICT enablers can increase productivity through innovation and enhance competitiveness and wealth creation. Re-energizing the ICT industry, developing high quality talent, improving digital infrastructure and pursuing digital inclusion are priorities to support a knowledge economy with a skilled workforce that drives innovation.
This report will allow FinTech startups and investors to have a better overview of Thailand’s economy and opportunities available in the market to bring out the potential and greater financial inclusion in Thailand.
Information technology (IT) is the application of computers to store, study, retrieve, transmit, and manipulate data, or information, often in the context of a business or other enterprise. IT is considered a subset of information and communications technology (ICT).
Thailand’s rising income levels, expanding digital literacy and smartphone usage, and a supportive regulatory regime have benefited Thai FinTechs as the country makes significant developments in creating a startup ecosystem supported by government initiatives, active VC funding and supportive financial institutions (FIs) and investor community.
Thailand’s rising income levels, expanding digital literacy and smartphone usage, and a supportive regulatory regime have benefited Thai FinTechs as the country makes significant developments in creating a startup ecosystem supported by government initiatives, active VC funding and supportive financial institutions (FIs) and investor community.
Bangladesh's hi-tech industry is growing due to several factors:
- A large, young population that is increasingly tech-savvy and connected
- Initiatives by local companies to manufacture smartphones and develop IoT devices
- Growing foreign investment in tech startups, especially in fintech, logistics, and mobility
However, challenges remain including a lack of skilled middle managers and low labor productivity compared to countries like China and India. Building strategic partnerships and a strong "Digital Bangladesh" brand could help the country further develop its hi-tech sector and attract more local and global demand.
The report provides an update on initiatives to promote Toronto's Information and Communications Technology sector. It outlines activities to strengthen the sector through partnerships with schools and industry to boost the talent pipeline and address future labor demands. Recommendations include continuing to report back on the state of the ICT industry and success of initiatives to promote the sector.
ICTLabs™ International is a new initiative, it is a company represents the interest of high profile Technology Syndicate working to enhance the ICT foundation and industries in the emerging market, through establishing local initiatives aimed at R&D output commercializing, attracting foreign investment into emerging markets, developing the means to transfer technology and facilitate technology diffusion.
My task is to promote the concept of ICT for Development via creating the ecosystem that all the Technology partners will collaborate through, for both funding the Technology Research & Development or adopting the Information & Communication Technology programs. I’m a member of the Foundation Committee and the Directors Board as well.
This document summarizes a presentation on electronic commerce in India. It outlines the growth of e-commerce and internet usage in India. It discusses the key issues facing e-commerce adoption including infrastructure, skills gaps, and awareness. It also outlines several government initiatives to promote e-commerce such as establishing standards, pilot projects, and education programs. The conclusion emphasizes the important role of education in developing countries and the need for joint public-private efforts to promote e-commerce.
Information economy strategy - Department for Business, Innovation and Skill...bisgovuk
The document discusses the UK government's Information Economy Strategy and Information Economy Council. The strategy aims to enhance national competitiveness through growing a strong innovative information sector, empowering organizations and citizens to use technology confidently, and developing digital infrastructure. The Information Economy Council, a industry-government partnership co-chaired by the Minister for Universities and Science and the President of Tech UK, oversees three working groups focused on business environment, future technologies/infrastructure, and skills/capability.
This document discusses small and medium enterprises (SMEs) and their adoption of information and communication technologies (ICT). It begins by defining SMEs, noting that definitions vary by country but generally refer to enterprises with 250 employees or fewer. SMEs are extremely important to economies in the Asia-Pacific region, comprising over 95% of businesses and generating a significant portion of employment and GDP. However, SMEs in the region have been slow to adopt ICT due to various constraints. The document examines why SMEs should adopt ICT, how they can use it, reviews past ICT policies, and makes recommendations to encourage greater adoption.
The document provides an overview of Thailand's growing ICT market, which is projected to reach $9.3 billion by 2016. Mobile phones and internet have high penetration rates, with mobile subscribers reaching 72 million in 2011. The top three mobile network operators control 98% of the market. While fixed broadband penetration is low, the government is promoting mobile broadband. Enterprise software, mobile applications, and cloud computing are major segments of the growing software market. Communications equipment and services make up over 60% of the overall ICT market, with mobile networks driving further growth in banking, e-commerce and other sectors. Factors such as government investment, urbanization, and digitalization of various industries are fueling the expansion of Thailand's
1) The document discusses how Thailand's electronics and electrical industry has boosted its smart electronics sector, as digital technologies have become more important during the COVID-19 pandemic for business operations and daily life.
2) Thailand has a vibrant electronics supply chain comprising over 2,500 enterprises and 750,000 workers, and its exports of electronics such as computers have increased sharply during the pandemic.
3) The country is well-positioned to support the smart electronics industry due to its skilled workforce, reliable infrastructure, and status as a major producer of components like integrated circuits and hard disk drives that power technologies like the Internet of Things.
With the market value of its digital economy considered the 2nd largest in ASEAN, Thailand has witnessed a digital revolution affecting processes, activities and transactions across almost every sector. Driven by the pursuit of the economic targets and vision contained within its Thailand 4.0 policy, Thailand is well on its way to achieving digital transformation. In 2018, it was estimated that approximately 17% of Thailand’s Gross Domestic Product (GDP) was derived from the digital economy.
Thailand is transforming its economy to embrace both industry and the digital sector. The government is establishing a Ministry of Digital Economy and Society and developing a digital economy framework focused on digital commerce, entrepreneurship, innovation, and content. This includes improving infrastructure like broadband networks and data centers. The government is also supporting the growing startup ecosystem and innovative workforce to position Thailand as a digital hub in ASEAN.
The document provides an overview of investment trends and opportunities in Thailand's new Digital Park project. Some key points:
- The Digital Park located in Chonburi province aims to be Thailand's innovation hub, bringing together investors, startups and technology companies.
- Major foreign investors in the park include companies from China, Taiwan, and the US.
- The park consists of zones for private sector innovation, education, and smart living. It aims to accelerate Thailand's digital transformation.
- The Thai government offers various tax incentives through the BOI to promote investment in digital technologies and infrastructure development.
TCI 2015 Samsung Electronics' Manufacturing Complex in VietnamTCI Network
Samsung Electronics has established a large manufacturing complex in Vietnam to take advantage of the country's strategic location, low costs, and growing consumer market. The complex produces smartphones, tablets and other electronics and employs over 100,000 workers. Samsung's investment and operations have helped seed the development of Vietnam's electronics industry by transferring technology, developing the local workforce, and encouraging the growth of local supplier companies. As a result, Vietnam has begun to establish itself as a hub for electronics production and exports in Southeast Asia.
Vietnam software outsourcing , Why is Vietnam, Why is TMA, leading Vietnam software outsourcing company, your quality partner for software outsourcing company
This document discusses Thailand's growing digital economy and leadership in digital transformation in ASEAN. It notes that Thailand has a relatively high internet penetration rate at 66% and is ranked 39th globally in digital competitiveness by IMD. The Thai government is actively promoting technology through its Thailand 4.0 model and a 2016-2036 National Digital Economy Masterplan. Thailand has invested heavily in digital infrastructure like rural broadband and Digital Park Thailand. It also offers a skilled, educated workforce and the SMART Visa program to attract global talent to support its transition to a digital economy and become a regional leader.
The document summarizes the Palestinian ICT sector and opportunities for cooperation with Malta. It outlines that the Palestinian ICT sector has experienced strong growth, currently contributing over $300 million to GDP. It employs over 10,000 workers and has competitive advantages including a young, educated workforce and experience working with global tech companies. The document proposes several areas of cooperation between Palestine and Malta, including developing marketing channels, facilitating investment, pursuing joint R&D projects, and establishing outsourcing opportunities in areas like BPO and ITO.
The Eleventh Malaysia Plan focuses on using ICT to enable knowledge economy growth in key areas like industry, infrastructure, human capital and digital inclusion. These ICT enablers can increase productivity through innovation and enhance competitiveness and wealth creation. Re-energizing the ICT industry, developing high quality talent, improving digital infrastructure and pursuing digital inclusion are priorities to support a knowledge economy with a skilled workforce that drives innovation.
This report will allow FinTech startups and investors to have a better overview of Thailand’s economy and opportunities available in the market to bring out the potential and greater financial inclusion in Thailand.
Information technology (IT) is the application of computers to store, study, retrieve, transmit, and manipulate data, or information, often in the context of a business or other enterprise. IT is considered a subset of information and communications technology (ICT).
Thailand’s rising income levels, expanding digital literacy and smartphone usage, and a supportive regulatory regime have benefited Thai FinTechs as the country makes significant developments in creating a startup ecosystem supported by government initiatives, active VC funding and supportive financial institutions (FIs) and investor community.
Thailand’s rising income levels, expanding digital literacy and smartphone usage, and a supportive regulatory regime have benefited Thai FinTechs as the country makes significant developments in creating a startup ecosystem supported by government initiatives, active VC funding and supportive financial institutions (FIs) and investor community.
Bangladesh's hi-tech industry is growing due to several factors:
- A large, young population that is increasingly tech-savvy and connected
- Initiatives by local companies to manufacture smartphones and develop IoT devices
- Growing foreign investment in tech startups, especially in fintech, logistics, and mobility
However, challenges remain including a lack of skilled middle managers and low labor productivity compared to countries like China and India. Building strategic partnerships and a strong "Digital Bangladesh" brand could help the country further develop its hi-tech sector and attract more local and global demand.
The report provides an update on initiatives to promote Toronto's Information and Communications Technology sector. It outlines activities to strengthen the sector through partnerships with schools and industry to boost the talent pipeline and address future labor demands. Recommendations include continuing to report back on the state of the ICT industry and success of initiatives to promote the sector.
ICTLabs™ International is a new initiative, it is a company represents the interest of high profile Technology Syndicate working to enhance the ICT foundation and industries in the emerging market, through establishing local initiatives aimed at R&D output commercializing, attracting foreign investment into emerging markets, developing the means to transfer technology and facilitate technology diffusion.
My task is to promote the concept of ICT for Development via creating the ecosystem that all the Technology partners will collaborate through, for both funding the Technology Research & Development or adopting the Information & Communication Technology programs. I’m a member of the Foundation Committee and the Directors Board as well.
This document summarizes a presentation on electronic commerce in India. It outlines the growth of e-commerce and internet usage in India. It discusses the key issues facing e-commerce adoption including infrastructure, skills gaps, and awareness. It also outlines several government initiatives to promote e-commerce such as establishing standards, pilot projects, and education programs. The conclusion emphasizes the important role of education in developing countries and the need for joint public-private efforts to promote e-commerce.
Information economy strategy - Department for Business, Innovation and Skill...bisgovuk
The document discusses the UK government's Information Economy Strategy and Information Economy Council. The strategy aims to enhance national competitiveness through growing a strong innovative information sector, empowering organizations and citizens to use technology confidently, and developing digital infrastructure. The Information Economy Council, a industry-government partnership co-chaired by the Minister for Universities and Science and the President of Tech UK, oversees three working groups focused on business environment, future technologies/infrastructure, and skills/capability.
This document discusses small and medium enterprises (SMEs) and their adoption of information and communication technologies (ICT). It begins by defining SMEs, noting that definitions vary by country but generally refer to enterprises with 250 employees or fewer. SMEs are extremely important to economies in the Asia-Pacific region, comprising over 95% of businesses and generating a significant portion of employment and GDP. However, SMEs in the region have been slow to adopt ICT due to various constraints. The document examines why SMEs should adopt ICT, how they can use it, reviews past ICT policies, and makes recommendations to encourage greater adoption.
The document provides an overview of Thailand's growing ICT market, which is projected to reach $9.3 billion by 2016. Mobile phones and internet have high penetration rates, with mobile subscribers reaching 72 million in 2011. The top three mobile network operators control 98% of the market. While fixed broadband penetration is low, the government is promoting mobile broadband. Enterprise software, mobile applications, and cloud computing are major segments of the growing software market. Communications equipment and services make up over 60% of the overall ICT market, with mobile networks driving further growth in banking, e-commerce and other sectors. Factors such as government investment, urbanization, and digitalization of various industries are fueling the expansion of Thailand's
1) The document discusses how Thailand's electronics and electrical industry has boosted its smart electronics sector, as digital technologies have become more important during the COVID-19 pandemic for business operations and daily life.
2) Thailand has a vibrant electronics supply chain comprising over 2,500 enterprises and 750,000 workers, and its exports of electronics such as computers have increased sharply during the pandemic.
3) The country is well-positioned to support the smart electronics industry due to its skilled workforce, reliable infrastructure, and status as a major producer of components like integrated circuits and hard disk drives that power technologies like the Internet of Things.
With the market value of its digital economy considered the 2nd largest in ASEAN, Thailand has witnessed a digital revolution affecting processes, activities and transactions across almost every sector. Driven by the pursuit of the economic targets and vision contained within its Thailand 4.0 policy, Thailand is well on its way to achieving digital transformation. In 2018, it was estimated that approximately 17% of Thailand’s Gross Domestic Product (GDP) was derived from the digital economy.
Similar to Guide Build Tech Teams in Vietnam | Aniday (20)
The Rules Do Apply: Navigating HR ComplianceAggregage
https://www.humanresourcestoday.com/frs/26903483/the-rules-do-apply--navigating-hr-compliance
HR Compliance is like a giant game of whack-a-mole. Once you think your company is compliant with all policies and procedures documented and in place, there’s a new or amended law, regulation, or final rule that pops up landing you back at ‘start.’ There are shifts, interpretations, and balancing acts to understanding compliance changes. Keeping up is not easy and it’s very time consuming.
This is a particular pain point for small HR departments, or HR departments of 1, that lack compliance teams and in-house labor attorneys. So, what do you do?
The goal of this webinar is to make you smarter in knowing what you should be focused on and the questions you should be asking. It will also provide you with resources for making compliance more manageable.
Objectives:
• Understand the regulatory landscape, including labor laws at the local, state, and federal levels
• Best practices for developing, implementing, and maintaining effective compliance programs
• Resources and strategies for staying informed about changes to labor laws, regulations, and compliance requirements
1. Vietnam’s
Tech Hub
Building
Guide
Vietnam's growing tech industry
and talented workforce makes it an
ideal location. Our report provides a
guide to help your business take
advantage of the benefits Vietnam
has to offer.
www.recruitery.co
2. Table of Content
01 Introduction
Insights 3
Vietnam’s Snapshot 4
02 Vietnam’s Tech Industry
Vietnam’s IT Sector Overview 5
What to expect from Vietnam’s Top 3 IT
Industries in years to come?
6
Why Foreign Companies should Build Tech Hub
in Vietnam?
7
03 Tech Market
Tech Market in Vietnam 11
Median Salary Report 12
Guide on Hiring in Vietnam 13
04 Build Tech Team
Build a Tech Team with Recruitery 16
www.recruitery.co
3. 01 Introduction
Welcome to the guide report on
expanding your IT business to the
vibrant market of Vietnam. In today's
interconnected world, the IT industry
plays a pivotal role in driving economic
growth and innovation. Vietnam's IT
sector has witnessed remarkable
growth over the years, fuelled by the
growing middle class and increasing
investment in infrastructure and
education.
The country's young population,
expanding middle class, and
increasing internet penetration create
an ideal environment for IT businesses
to thrive. Moreover, Vietnam's strategic
geographical location, favorable
business climate, government support
and pool of tech talent further
contribute to its attractiveness as a
market for IT expansion.
As you delve into this report, you will
develop a better grasp of the current
state of the IT industry, the future
expectations for Vietnam's top three
IT sectors, the median IT salary
report, and the compelling reasons
why foreign tech companies should
consider expanding or building a
tech hub in Vietnam. Equipped with
this knowledge, you will be
empowered to devise effective
strategies aligned with your business
objectives and make the most of
Vietnam's vast potential.
We sincerely hope that this guide
report serves as a valuable resource
in your journey to expand your IT
business to the Vietnamese market.
Insights on
Building a Tech
Hub in Vietnam
Vietnam’s Tech Hub Building Guide | 3
4. 99,897,228
Total 2023 Population
50,74 Million
Working-Age Population
32.5
2023 Median Age
4,475.51 USD
GDP per Capita
1.5 Million
IT Workforce (est 2023)
10+
International Airports
Vietnam's
Snapshot
— 01 Introduction
Vietnam’s Tech Hub Building Guide | 4
5. Vietnam's IT industry has significantly grown and now holds a critical
position in the country's economy. It ranks first in the software service
industry among the fastest-growing ASEAN countries, making it a leading
player in the global IT landscape.
The government aims to make Vietnam a top digital destination in
Southeast Asia by 2030, with supportive policies that foster opportunities
for technology businesses to expand and scale. This growth creates
abundant job prospects within the IT industry and emphasizes its
importance and potential for further advancements towards becoming a
leading digital economy.
In addition, many large technology companies have been investing and
expanding in Vietnam.
02 Vietnam’s Tech
Industry
Vietnam’s IT Sector Overview
Vietnam’s Tech Hub Building Guide | 5
6. What to expect from Vietnam’s Top
3 IT Industries in years to come?
1. Artificial Intelligence (AI)
Vietnam's AI industry has been adopted in various sectors such as
e-commerce, human resources, education, agriculture, healthcare,
and more. To further promote AI development, the government
recently passed a resolution aiming to increase the number of
enterprises in the advanced technology industry to 50% by 2025,
thereby encouraging foreign direct investment (FDI) that can aid in the
advancement of AI.
2. E-commerce
Vietnam's e-commerce market is projected to rank third in the region
by 2025. Ho Chi Minh City and Hanoi are key e-commerce hubs,
accounting for 70% of total sales in the country. The availability of
reliable internet connectivity in rural areas creates promising
expansion prospects. Vietnam's cost-effective and efficient
development process has attracted prominent e-commerce
companies in Asia to establish dedicated teams in the country.
3. Fintech
Vietnam's FinTech sector is projected to reach $18 billion by 2024,
driven by a young population, a growing middle class, and increasing
internet penetration. The country offers favorable conditions for fintech
industry growth. Particularly, significant expansion is observed in digital
payments, peer-to-peer lending, and blockchain technology with
cryptocurrencies.
— 02 Vietnam’s Tech Industry
Vietnam’s Tech Hub Building Guide | 6
7. 1. Government Support
2. Young Talent Pool
3. 100% Foreign Ownership
4. Low Operational Cost
Why foreign
tech companies
should build Tech
Hub in Vietnam?
— 02 Vietnam’s Tech Industry
Vietnam’s Tech Hub Building Guide | 7
8. Government
Support
The Vietnamese government provides funding, tax incentives,
technical training, and business mentoring to support the tech
sector's development. This assistance aids foreign tech companies in
establishing a strong presence and growing their operations in
Vietnam.
1.
1.1 National Program for Innovation
Vietnam's National Program for Innovation aims to boost startup
formation and recover from the Covid-19 investment decline in
2022. It fosters a favorable environment for tech startups by
offering funding, training, and support. The program targets the
creation of 2,000 innovative startups and 600,000 jobs by 2025.
1.2 Lucrative Tax Incentives
Foreign investors and companies are attracted to Vietnam
due to the enticing tax incentives provided by the government.
The Vietnamese government prioritizes investment in the IT
sector and offers appealing incentives. Technology
companies can benefit from corporate income tax (CIT)
incentives, such as 10% CIT for 15 years, four years of CIT
exemption, and a 50% tax reduction for the subsequent 9
years.
— 02 Vietnam’s Tech Industry
Vietnam’s Tech Hub Building Guide | 8
9. Young Talent
Pool
2.
100% Foreign
Ownership
3.
Vietnam allows foreign companies
100% ownership when setting up
operations, enabling them to
maintain full control and benefit
from lower business costs in
Vietnam.
Vietnam benefits from its youthful population, with
a median age of 30.4 years and 50% of the total
population under 30. The country's improving
education system contributes to a large pool of
highly skilled talent.
Vietnam is renowned for its growing tech talent,
with over 400,000 IT engineers currently employed
and an additional 50,000 IT graduates each year.
Vietnam boasts a tech-savvy population and a
growing middle class, making it an ideal market for
new businesses.
— 02 Vietnam’s Tech Industry
Vietnam’s Tech Hub Building Guide | 9
10. Among Myanmar, India, Philippines, Malaysia, Thailand,
Indonesia, and Singapore, Vietnam has the lowest
operating costs, with a minimum monthly expense of
$79,280.
Low Operational
Cost
152,791
142,344
130,672
128,216
124,277
79,280
65,313
366,561
Singapore
Indonesia
Thailand
Malaysia
Philippines
India
Vietnam
Cambodia
Minimum Monthly Operating Costs (USD)
— 02 Vietnam’s Tech Industry
4.
Vietnam’s Tech Hub Building Guide | 10
11. Vietnam has been building infrastructure to develop the information technology
sector. Overseas technology companies setting up an office in Vietnam can
receive additional incentives such as land rent exemption for IT businesses
inside tech parks built by the government, further helping to reduce their
expenses.
Hoa Lac Hi-Tech Park
Saigon Hi-Tech Park
Danang Hi-Tech Park
Ho Chi Minh City
Software Park
Ninh Thuan Hi-Tech Park
Hanoi Software Park
Can Tho Information
Technology Center
Da Lat Hi-Tech Park
Bac Ninh Hi-Tech Park
Quang Trung Software
City
The high-tech parks that have been established are:
03 Tech
Market
IT Infrastructure
Vietnam’s Tech Hub Building Guide | 11
12. IT Median
Salary Report
IT jobs are in high demand as technology products and services become more
integrated into our daily lives.
One of the most pressing concerns for business leaders is talent shortages,
which could potentially impact companies' competitive advantages in the
long-run.
— 03 Tech Market
Tech Stack
Under
1 year
From 1 to less
than 3 years
3 to less
than 5 years
5 to 8
years
8+
years
JavaScript 500 700 1200 1500 2800
C# 690 780 1100 1300 1650
Java 500 780 1300 1700 2100
PHP 550 820 1250 1300 1700
Python 780 1000 1500 2100 3000
TypeScript 970 1000 1400 1700 2500
SQL 650 820 1680 1850 2000
C++ 600 650 1000 1600 2000
Kotlin 600 780 1730 2160 2800
Swift 550 990 1800 2100 2700
Go 600 1100 1600 2600 3200
HTML/CSS 450 650 780 1100 1200
Bash/Shell 550 820 1400 2500 3000
Ruby 650 860 1500 2800 3250
Dart 500 600 850 1800 2250
PowerShell 550 650 900 1100 1500
Objective-C 860 1250 1550 1950 2400
Vietnam’s Tech Hub Building Guide | 12
Unit: USD
13. Guide on Hiring in
Vietnam
The 2021 Labor Code of the Republic of Vietnam defines
provisions for employee protections and workers’ rights
applicable to Vietnam’s workforce of 56.5 million.
Employees in Vietnam enjoy protections against
discrimination based on age, religion, sexual
orientation, gender expression, and race.
— 03 Tech Market
Vietnam’s Tech Hub Building Guide | 13
14. The Vietnamese government mandates
a two-tier minimum wage for skilled and unskilled
workers across four distinct regions within the
country.
Region I: VND 4,420,000 ($192.80)
Region II: VND 3,920,000 ($170.99)
Region III: VND 3,430,000 ($149.61)
Region IV: VND 3,070,000 ($133.91)
Minimum
Wage
Skilled workers are entitled to a minimum wage that’s at least 7% higher than the
base rate defined for unskilled workers.
1.
— 03 Tech Market
Vietnam’s Tech Hub Building Guide | 14
15. Employer
Cost
2.
The employer's cost is 23.5% of the
employee's salary:
Social Insurance - 17.5%
Health Insurance - 03%
Accident Insurance - 0.5%
Control Union Fee - 02%
Unemployment Insurance - 01%
Overtime
Pay and
Maximum
Hours
3.
— 03 Tech Market
Vietnam’s Tech Hub Building Guide | 15
Standard working hours:
8 hours/day,
40 hours/week
Standard workweek:
Monday - Friday.
Overtime payment is mandatory.
Employees can work no more than 12 hours a day,
including normal and overtime (OT) hours.
For OT hours, employees are paid:
● 150% of the hourly rate on weekdays
● 200% of the hourly rate on weekly days off
● 300% of the hourly rate on public holidays
16. Build a Tech Team with
Recruitery
Our services
Global Recruitment
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Trusted by
Vietnam’s Tech Hub Building Guide | 16
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Https://recruitery.co
Hello@Recruitery.co
Free consultation
We provides a long-term solution for successfully delivering your product
roadmap without outsourcing your software development. In just a few weeks,
we can set up dedicated software development teams in Vietnam which will be
steadily integrated in your organization and can eventually be fully transferred.
Recruitery is an all-in-one hiring solution that streamlines the process of finding,
hiring, and paying local talent in compliance with regulation.
The global payroll solution equipped with a comprehensive suite of payroll
management features such as automated tax calculation, payment processing,
and reporting.