Vietnam Is an Excellent Outsourcing Destination
For all the reasons described above, Vietnam is clearly an excellent choice for meeting any business’ outsourcing needs. Here is a quantitative summary of the advantages of working with offshore providers located in Vietnam.
- Price: Vietnam’s labor costs are significantly lower than those of many other companies.
- Labor Force: Vietnam’s labor force has a 96% literacy rate and high scientific and technological knowledge.
- Socio-Economic Stability
- Economic Stability: Vietnam has very high GDP growth, with significant foreign investment and membership in the World Trade Organization.
- Ethnic/Religious Stability: There are no ethnic/religious conflicts in Vietnam.
- Political Stability: Vietnam’s current government has been in place for more than 30 years and there have been no conflicts with neighboring countries for almost the same amount of time.
Business Environment: Vietnam’s laws and public policies favor business and foreign investment and the country is constantly strengthening its protection and enforcement of intellectual property rights.
Language: Most college graduates in Vietnam are fluent in English, which is the second-most popular language in the country, in large part thanks to Vietnamese’s use of the Latin alphabet.