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Did you know that Vietnam is ranked 7th among the top ten biggest outsourcing nations around the globe? The estimation was made by an advisory firm called Tholons, which is a consultant for global sourcing and investments.
Meanwhile, Ho Chi Minh City and Hanoi, were listed as ranking fifth and tenth when compared to 50 other top emerging outsourcing cities around the world. Ho Chi Minh City was also on the list in 2006 for declining labor costs and high standards of quality in the IT industry.
Tholons’ report was put together by service providers and buyers (1st and 2nd tier service providers) and included surveys along with related information from institutions worldwide and various governments.
The Tholons/Global services survey examines six criteria for determining the top outsourcing destinations. They include the quality of human resources and the proportion as well. In addition, labor costs are also looked at. Along with that comes trade promotions, risk levels, living standards and infrastructure.
Incidentally, Ho Chi Minh Cit and Hanoi were listed as 4th and 11th in 2008 in the global outsourcing rankings.
The Vietnam Software Association said the software industry in Vietnam is growing at a growth rate of 30-40 percent/year. Vietnam hosts over 720 outsourcing firms and approximately 9,000 engineers trained in IT by local universities and colleges.
In its annual report, Tholon said outsourcing to Vietnam is perceived as a popular option since Vietnam is viewed as a vibrant destination for software development services and engineering services outsourcing in Asia.
Among the top outsourcing options in Tholon’s survey include outsourcing to Philippines (Cebu City), and outsourcing to China (Shanghai). The two countries are also listed as second and third in the list of top offshoring countries. That list was capped by India.
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