Ho Chi Minh City, The Best Strategic Location For Offshoring

Ho Chi Minh City, the best strategic location for offshoring

Ho Chi Minh City, The Best Strategic Location For Offshoring – Image Source: The Internet

Vietnam’s Socio-Political stability, commitment to reform and strong economic growth along with its talented but low-cost labour make it the perfect location for offshoring. But where in Vietnam? Let’s look at why Ho Chi Minh City is an ideal prime location.

“Vietnam’s Socio-Political stability, commitment to reform and strong economic growth along with its talented but low-cost labour make it the perfect location for offshoring.

The country is marching towards growth and prosperity. This is demonstrated by its fast urbanisation rate and emerging middle class. But companies moving to Vietnam don’t only look only for low-cost labour but a good business environment to work in.

The downturn in China and a general slowing of global trade has reduced the economic growth of Southeast Asia but Vietnam has been enjoying steady growth recently and this is expected to continue remaining one of the fastest growing economies in the world. There is tremendous economic potential in Vietnam, much of this potential is concentrated on the country’s’ centre of commerce Ho Chi Minh City (HCMC).

Vietnam has three major cities Hanoi is the capital and political centre. Hanoi will be the fastest growing city in the world in terms of GDP growth from 2008 to 2025 according to a recent survey by Price Waterhouse Coopers. Hanoi is the industrial centre for heavy manufacturing activities. In addition to eight existing industrial parks, Hanoi is building five new large-scale industrial parks and 16 small- and medium-sized industrial clusters.

Da Nang is being developed as one of the largest urban areas of the country and a major socio-economic hub for Central Vietnam and is the third largest city in Vietnam. It has a diversified industrial centre that includes industries such as machinery, electronics, chemicals, shipbuilding, and textiles.

Ho Chi Minh City (HCMC) is the largest city in Vietnam and is set to have 20 million inhabitants by 2020 and it is the commercial centre of Vietnam. HCMC is the country’s financial centre and headquarters of many foreign and Vietnamese private companies and accounts for a large proportion of the economy of Vietnam.

HCMC is a dynamic business centre and is being seen as a future start-up hub. The enthusiasm and drive of the predominantly young population and the high internet penetration and mobile phone subscription have resulted in the creation of a unique start-up culture and a growing entrepreneur community in HCMC. This progressive business culture is matched with the signing of multiple free trade agreements that further open up the Vietnamese economy to capital and investment for start-ups. This coupled with strong government support, the future of HCMC as the business hub of Vietnam and as a point of entry into the ASEAN is very secure.

HCMC is a prime location ideal for entrepreneurs, start-ups and companies looking cost-effective business solutions.

HCMC is where offshore staffing providers such as Remote Resources can help any size business in hiring skilled employees to work for your company only. This becomes an overseas office to become an extension of your onshore team at a fraction of the cost. Your offshore team can work in many areas such as business processing, back office, data entry, bookkeeping, medical encoding, web development, web design, software development, search engine optimisation, social media marketing, game development, game design, technical support, help desk, mobile application development, flash design, marketing, animation, proofing, content moderation and the list goes on.

Expanding your business capabilities can only lead to increased opportunities. Offshoring in Vietnam and especially in HCMC not only makes sound financial sense but it is a major opportunity to build an international reputation and expand your global market penetration.