There are more and more Vietnam offshore outsourcing companies, IT companies reflecting the fact that Ho Chi Minh City, Vietnam has become a fast-growing destination for software outsourcing. Vietnam’s GDP has quickly and steadily been growing at a rate of about 7-8% annually over the past 20 years.
Over 50,000 ICT students graduate every year in Vietnam and provide a large talent pool for the Vietnam software industry. The young and well-educated population supports this large talent pool, with over 60% of the population under the age of 30, a literacy rate of greater than 90%, and over 200,000 university and college graduates per year. This will be a great IT resource pool for Vietnam offshore IT companies and a remarkable contribution to the Vietnam offshore software development industry.
With strong government support for the software industry, including tax, education, and software parks, Vietnam provides very competitive costs for high quality offshore software outsourcing and quality assurance (QA) software testing services.
As Vietnam is already a major destination for offshore software outsourcing, there are many offshore outsourcing companies and offshore IT companies in Vietnam. Outsourcing to Vietnam is an ideal choice for large and small companies seeking high quality software. Many world leading companies have turned to TMA, a leading offshore outsourcing company, for Vietnam based software outsourcing, including IBM, Ericsson, Siemens, Alcatel-Lucent, NTT, Avaya, Nortel, Toshiba, NEC, Amdocs, and many others.
Over 40 billion has been invested in Vietnam in the last ten years. It is a clear evidence for how attractive Vietnam can be in an investment, which stands in the top destination list for investment beyond BRIC (UKTI, 2010). The investment is in many areas including offshore software development.