Why do many foreign companies prefer to invest in the IT industry in Vietnam?

We can easily realize that, when the Covid-19 pandemic rages, most of us have the need to use digital technology more to serve our daily needs: work online (work from home). ), shopping, entertainment,…

At this time, many companies and businesses have rushed to optimize their online platforms to “catch up” with demand and accelerate development. It is such a context that has created the premise for the “boom” of the information technology industry.

At the same time, it is impossible not to mention the strong flow of the 4.0 revolution in the world in general and Vietnam in particular. Typically, the emergence of a series of IoT, Blockchain, AI, …

In 2017, PwC said about the promising outsourcing industry in Vietnam: “It is not surprising that Vietnam is gradually being chosen by many countries around the world, because countries have “familiar” such as China and India have outstanding costs, higher than the common ground. In general, Hanoi and Ho Chi Minh City are two major software outsourcing regions, PwC praises Vietnam.

Reports also show that large technology corporations such as Samsung, Microsoft, LG, Intel are also investing heavily in Vietnam. Along with that, a strength of Vietnamese people is the nature of constantly learning to improve themselves. This country has been and is changing, thanks to a generation of hard-working and dedicated young people.

Vietnamese programmers work 6 days a week, while in the West, the working time per week is only 5 days. In the previous generation of employees in Vietnam, working 12 hours a day and 6-7 days a week was still very normal.

In Vietnam, the BPO industry has grown significantly. According to data from the Vietnam Software and IT Services Association (VINASA), IT outsourcing has grown by 20%-35% annually over the past decade, with last year’s industry revenue reaching 2. 2 billion USD.

“Vietnam is truly one of the most competitive options in the world for outsourcing,” according to Gartner. The great advantage of this country is that the labor cost in Vietnam is only half that of India.

According to Forbes.com (February 22, 2023), Vietnam’s AI readiness index has reached 51.82/100, up 14 places from last year and surpassing the global average of 47. 72. This shows a positive sign of AI accessibility in Vietnam.

Leading companies in the world such as Google, Facebook, Amazon, etc. are investing a lot of money to develop artificial intelligence systems. AI startups are also growing exponentially. In Vietnam, investment in AI is increasing, with the emergence of companies and research institutions such as FPT AI, VinAI Research, Viettel AI and Vingroup AI Institute. Other businesses are also looking for AI skilled human resources to improve their business performance.

With the development of AI, job opportunities in this industry will continue to increase in the future, especially in areas such as healthcare, finance, manufacturing and retail. This is a great opportunity for you to join.

Some prominent applications include:

Virtual assistants: Virtual assistants like Amazon Alexa, Google Assistant, Siri, etc. are all built on AI. These virtual assistants will help improve the user experience, better solve user problems.

Digital Marketing: AI technology makes data collection and data-driven decisions more efficient and accurate.

Finance: AI can be used to predict financial market trends, optimize trading processes, and reduce risks.

Health: AI can help in diagnosing diseases and designing treatment plans. AI systems can analyze medical data to predict disease risk and optimize diagnosis and treatment.

Traffic: AI can be used to reduce traffic accidents by predicting the risk of accidents and providing timely warnings to drivers.

These applications are only a small part of the applications of AI. There are many other areas where AI can be used to solve complex problems in people’s daily lives.

Therefore, at KOVIEPARTNERS, we are always ready to provide Vietnamese human resources in the IT industry for foreign organizations and businesses with the goal of connecting and developing the global coverage technology industry. Besides, creating conditions for foreign businesses to have the opportunity to experience the talents of IT human resources in Vietnam.

We are always committed to providing IT services that suit your needs and always ensure the best service quality. Bringing trust to customers is always our working motto.

Ideas today, reality tomorrow!

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KOVIEPARTNERS

Hanoi: 22 Thanh Cong, Ba Dinh, Hanoi

Hotline: 0368.903.045

Seoul Office: Botanic Park Tower 1, 759-3, Magok-dong, Gangseo-gu, Seoul.

Email: Koviepartnersvn@gmail.com

Website: www.koviepartnersvn.com