Software development outsourcing in Vietnam costs 50% less than the rivals from India and China.
Hiring outsourcing development companies in Vietnam is cheaper than China, India
Currently, India and China are industry leaders for outsourcing development companies. Vietnam market started to emerge as a new outsourcing site. With offshore developments including web application services, mobile applications, fintech solutions and more.
2019 Global Software Outsourcing Rates
Because Outsourcing in Vietnam is being recognized as a low-quality software manufacturer in Asia. According to CIO magazine, software development outsourcing in Vietnam is about 90% cheaper than hiring the US labor force. Compared to India, software development outsourcing in Vietnam is cheaper from one third to one-seventh. These are figures that foreign companies are really considering to set the location for their offshore software development in Vietnam. When the Indian and Chinese markets have entered the maturity cycle, the cost of processing will tend to increase. Outsourcing to Vietnam means a lot to companies looking to develop the most cost-effective way. Outsourcing service ranking by Global Service Location Index 201, Vietnam ranks 20th among the top countries recognized as excellent outsourcing destinations.
Cost of outsourcing software in Vietnam, India and China
Vietnam’s software engineer workforces are high-quality
Vietnam is in the “golden population” phase of the world, with more than 60% of the population under the age of 30. Each year more than 25,000 engineers graduate from universities in Vietnam.
Vietnam is in a period of golden population
Young Vietnamese with better education have overcome the English language barrier previously thought to be a weakness. At the same time, a software outsourcing company has provided a large pool of skilled software developers required to meet growing offshore demand.
Vietnam ranked 7 out of 20 in Asia according to the evaluation of EF EPI
With a strong economy, there is unbelievable growth; Vietnam is considered a dynamic country with great processing potential. With a stable and safe government, it is now considered a legitimate country under one roof. In an international survey conducted in 2002, Vietnam was the safest country to travel in Asia. The Vietnamese government is promoting its economy for more foreign investment. It provides great incentives in the IT industry to take advantage of globalization.
Companies have begun to take advantage of this wonderful opportunity of outsourcing in Vietnam with low cost and superior quality. Vietnam is on the way to write a new chapter in software development outsourcing history. The world will follow this new revolution in offshore software development taking place in Vietnam. As an emerging outsourcing destination, Vietnam will be a perfect fit for companies seeking a technological advance without spending a lot of money.
Fintech Vietnam is a technology update portal about Fintech in Vietnam and Fintech trends worldwide.
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