Vietnam Leading the way in IT: Trends and Opportunities.
Overview and achievement of Vietnam IT Industry :“ Vietnam IT talent second only to New Zealand in APAC”
According to the Global Skills Index 2020 reported Vietnam's technology skills rank second in the region and 22nd globally. Among the 4 countries in Asia Pacific receiving the highest rating in the technology sector, Vietnam has surpassed Japan and Australia to come in second and won the 22nd position in the ranking. Global.
Interestingly, when it comes to the business sector, Vietnam ranks 33rd in the world and 7th in Asia Pacific only.
So what sets Vietnam tech talent apart? The report provides valuable information on the traits of Vietnamese programmers and the current status and future of IT recruitment.
Vietnam has the strongest skills and competitive edge development of:
Mobile operating systems - Android and iOS;
Computer networking (blockchain and wireless networking),
Human-computer interaction (user interface and machine translation);
Security engineering (cyberattacks, and cryptography).
In general sales and associated recruitment demand of tech companies (specifically IT industry) showed signs of recovery and growth again after the pandemic. Spearheading Vietnams development, the prosperity of IT brings great signs to the country's economy as well as a positive spread to other fields and industries.
Business trends.
The impact of Covid and the global economic decline is felt also in Vietnam. The tourism, healthcare, online customer services, and marketing industries are expected to have significantly increasing unemployment rates this year, starting from the second quarter. The number of companies indefinitely suspending their business in Vietnam has also increased sharply. The IT industry is not as sensitive to these fluctuations as other industries, however the industry is not immune. One example includes GoViet's operations in HCMC; who have restructured the company's operations and merged with their parent company - Gojek - in Indonesia.
Businesses need to adjust their workforce and recruitment plans accordingly. About 10% of businesses are forced to make difficult decisions to ensure their financial resources and the survival of the company and downsizing their business and operations.
Some new recruitment business trends have emerging during the pandemic, especially within technology companies include solutions offering and facilitate a face-to-face interview through online tools for example. Another trend from the pandemic is the the large-scale re-training of skills and the growing popularity of online courses and certifications.
While new roles were down during lockdown inn Vietnam, immediately after the pandemic seemed controlled, we observed a number of trends in the type of IT positions which were receiving priority and still had a high recruitment drive in Vietnam.
- Firstly, focus on recruiting positions with wide skillset and high level of expertise and experience with a clear decline in the demand for 'fresher' or junior roles.
- Secondly, companies are focusing more on internal training solutions to upgrade their own employees skills to fill their internal capability needs.
Vietnam is and will continue to be an ideal destination for global technology companies to seek a base for their tech product development with the abundant highly skilled tech talent in the market to develop their business. HCMC also has many start-ups, large and small, developing projects and capabilities related to AI, Machine Learning, blockchain, creating a multitude of experience and talent for the entire technology industry to benefit from.
Source : Techtalk.vn
The demand for the IT workforce is always growing and as such the average salary of an IT engineer/ developer has not been affected too much. It is clear in the Covid-19 period, the more versatile IT talent (full-stack) with the latest technologies, will still be met with a generous salary compared to the market, increasing significantly (more than 20%) compared to the previous period. On the other hand, as recruitment demand slows down significantly, conventional IT personnel tend to decrease in average salary.
Positions that businesses are looking for most, are:
- Full Stack Developer (versatile programmer, undertaking both front-end and back-end)
- Back -end Developer (technology design, the database behind the product)
- Mobile Developer (mobile application programmer).
Positions that businesses are looking for immediately.
(Source; Vietnam, IT landscape, 2020).
Overall, there was no spike in average wages for positions (TopDev, 2019). However, given the demand and investment from large international companies, the IT industry's benefits and compensation will continue to become more competitive.
Ready to get out of the outbreak.
As another wave of COVID-19 hits the nation, many businesses are already on the verge of collapse. In general, however the Vietnamese economy is expected to be ready to bounce back from pandemic wave - with one of the few countries globally still showing economic growth.
“The Vietnamese economy suffers some trauma from the impact of the Covid-19 epidemic, but still has the brightest prospects in Asia. Vietnam's retail sales, imports, and industrial production all increased in June over the same period last year. It is clear that the Vietnamese situation is better than most other Asian economies. ” stated by Economist Edward Teather of UBS Research,
Enterprises in the sectors directly affected (tourism, hotel, aviation, and education have been in a state of "hibernation" in the past 3 months. Despite being affected by the epidemic, this is also an opportunity for businesses to renew themselves, find new directions in accordance with the market needs to survive and grow stronger.
Sensitive businesses will change the state from "freezing" to immediately seizing new opportunities for development. This is the basis for promoting capacity building of the economy, as a premise for more sustainable development.