Vietnam’s booming e-commerce, fintech sectors scramble to hire the best

The number of vacancies in e-commerce rose by 20 percent in the 12 months ending May, Michael Page said in a report. Vietnam’s rapid digital penetration has fueled the industry’s hiring of digital professionals, especially data engineers and development managers.

The e-commerce sector has seen double-digit growth in recent years as smartphones become increasingly popular among the tech-savvy population. Some 98 percent of internet users in Vietnam made purchases online last year, according to market research firm Nielsen.

Ministry of Industry and Trade data shows e-commerce revenues rose by 30 percent last year to $8 billion. It expects the figure to rise to $10-13 billion next year.

Michael Page said since local talent is limited and there is intense competition to attract the best candidates in this industry, employers should look to Southeast Asia or Vietnamese living abroad who are open to returning home.

Financial services and fintech is another industry with increasing demand for talent, with the number of jobs up 10 percent. The roles most in demand are chief marketing officers, heads of risk and compliance, and chief operating officers.

Last year fintech was the most invested category among Vietnamese startups, with eight major deals worth $117 million, according to Topica Founder Institute, a startup accelerator program in Vietnam and Thailand which is organized by Topica Edtech Group and Founder Institute.

Other industries looking to hire are FMCG and retail, manufacturing and industrial, services, and transport and distribution.

Paul Cooper, managing director of Michael Page Vietnam, said as Vietnam sees increasing foreign investment, there is growing demand for hiring. "A lot of factories are being built now, meaning that in the coming year heightened demand for operation managers and engineers is in particular expected."

The report said Vietnamese professionals with international experience and mindsets are highly sought after as they "have the ability to challenge the status quo."