Phong Dinh, CaVi-Tech

Technology is the key for Vietnam to get out of poverty and develop. The Prime Minister of Vietnam, Nguyen Xuan Phuc, urged the country and private businesses to invest more in technology. “If we do not make bold investments in science and technology, we would become stuck in a low-productivity, low added value” as he mentioned on May 2019, at the conference “Science-Technology-Innovation, A Pillar For Socio-Economic Development in Vietnam”.

The global and regional fierce competition, the difficulties in agriculture caused by the rising sea level, and the need for rapid industrialization after four-decade-long stagnation and isolation are the key reasons to the bursting demand for technology and machinery.

Phong Dinh, CaVi-Tech

Business Process Outsourcing (BPO) is one of five industries with the greatest growth potential and investment destination in Vietnam, as written by PwC in the article, Spotlight on Vietnam, on October 2017. The other four industries are solar and wind energy, luxury hotels, modern agribusiness and food, and retail banking).

This fast growing BPO of Vietnam is based on the following two factors. The first is its advanced IT infrastructure and the second is its large IT workforce with 40,000 new university graduates annually. With continued upgrades of digital connectivity and growing market demands, Vietnam’s BPO has plenty of room for development within these three main sectors: domestic/onshore outsourcing, nearshore outsourcing, and offshore outsourcing.