Vietnam sees fastest rate of IT job creation in 5 years

By Dat Nguyen   August 16, 2019 | 05:01 pm PT
Vietnam sees fastest rate of IT job creation in 5 years
Large investment in tech startups and the digital transformation are reasons for the high IT staff demand. Photo by Shutterstock/ProStockStudio.
The number of IT jobs in Vietnam has grown by 56 percent this year, the highest growth rate since 2015.

The number this year has reached 62,829, five times that of 2015, according to a report released on Friday by HCMC-based IT recruiting firm TopDev.

The strong growth is owed to the entry of many foreign IT companies looking for talent in the country, the report said.

Large investment in tech startups and the digital transformation of traditional tourism, agriculture and real estate firms are other reasons for the high demand, it said.

But finding all those people would be a challenge to employers, it warned, saying with a projected 2020 demand for 350,000 IT workers, Vietnam will likely see a shortfall of 70,000-90,000

The reason for the high shortfall is the inadequate number churned out by training facilities, it said.

It cited data from the Ministry of Education and Training showing that the country produces only 50,000 IT graduates a year of whom only 30 percent can start working immediately while the rest need more training to be ready for jobs.

"Vietnam’s technology sector is seeing two trends: one of foreign investment funds paying more attention to the country; and another of digital transformation by traditional firms to increase competitiveness. These two trends lead to an increase in demand for IT staff," said Nguyen Huu Binh, TopDev CEO.

He added that new IT startups and the large IT projects in the market are hunting for more IT employees who know they are sought after. This is why businesses are struggling to keep their staff from leaving.

The low supply has resulted in a rise in salaries. A survey released with the report said IT industry salaries have risen by 15-18 percent in the first six months.

An experienced engineer earns an average of $1,322 a month, but those with experience in artificial intelligence (AI) could earn up to $2,102, the survey, which polled almost 45,600 IT staff and over 1,100 employers, said.

Minister of Information and Communications Nguyen Manh Hung said at a forum recently that the country needs another 50,000 information-communications technology firms to push its digital transformation.

The country wants to have five billion-dollar tech firms by 2025 and 10 by 2030.

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