Setting up Hybrid Captive Centres in Vietnam and choosing Ho Chi Minh as the location. A Hybrid captive is where one company performs a core business processes for a parent company, where some or a significant portion of non-core work is outsourced so that the client can invest more time and money in higher-profile work, as well as cut costs. The hybrid captive is set up as a wholly owned subsidiary or branch office, typically in a low-cost country while maintaining or raising the quality of their services.
A Hybrid captive is where one company performs a core business processes for a parent company, where some or a significant portion of non-core work is outsourced so that the client can invest more time and money in higher-profile work, as well as cut costs. The hybrid captive is set up as a wholly owned subsidiary or branch office, typically in a low-cost country while maintaining or raising the quality of their services. It is a model of offshoring that provides service resources directly to the parent company without contracting a third-party service provider (outsourcing).
Therefore, it shares the benefits of outsourcing such as low cost and skills availability. This unique structure gives the client company visibility into all aspects the business so that they retain operational ownership. Other features that are so appealing are that it is low on initial capital investment and has more flexibility throughout. Quick implementation of the start-up process, usually only 2 months is commonly achieved. Digital and physical security are provided and complete financial transparency is maintained.
Of course working with a multi-industry experience provider, who has diverse business and technical experience, one that can address non-standard client needs, expectations, and requirements has its benefits.
Setting up Hybrid Captive Centres in Vietnam
Most companies set up their centres in Ho Chi Minh City it has the most opportunities compared to other cities in Vietnam for the following reasons:
- Vietnam’s largest city with approximately 9 million people.
- Vietnam’s largest city with approximately 9 million people.
- Strategic location for transportation to other major cities in Vietnam and the region.
- GDP growth is above 8 percent.
- There are over 80 universities and colleges.
- Massive foreign investment.
As many foreign companies have invested in HCMC, local services for assisting business establishment are well-developed. The city offers a variety of choices for the selection of offices. High on the list of requirements are location, price, convenience, and provision of a professional working environment.
HCMC has an excellent labour supply. One of the biggest advantages of the excellent talent access in HCMC is the closeness of the offices to universities with related, and needed, majors. Most of the universities located in the city area include IT-related majors, which greatly benefits the recruitment in this communication-based sector.
Due to the dynamic environment in the city, almost all the students who come from other provinces to study stay after graduation so many students from around the country gravitate to HCMC so there is a concentration of the best candidates here. There is little to no problems with respect to conflicting cultural differences and belief systems. The Vietnamese are known for their hard-working, creative, teamwork, passionate and the willingness to learn, as so many companies that have made the move will attest.
There are many service providers in HCMC who assist in businesses in this process. One of the most respected and experienced is Remote Resources. Speaking with them for detailed information on every aspect of setting up a hybrid captive in this city, including the recruitment process.
