During the last 25 years Vietnam has emerged as one of the most booming economy in Asia. Its per capita growth was higher than any other Asian economy apart from China. Vietnam implemented a huge transition from agricultural base toward manufacturing and services. Despite a young population (average age is 27.4 years versus 35.2 years for China e.g.) some companies already report labor shortages in major cities. Shortages of qualified engineers, of middle managers, … are already there. The promising areas: offshore services (data, business-process outsourcing, IT). It is accepted that Vietnam has the potential to become one of the top ten locations in the world for such services. Further more, after China, many multinationals have opened facilities in Vietnam or plan to do it shortly.
In education area Vietnam is currently one of the fastest growing sources of international students for U.S. institutions of higher education as an example. In academic year 2010/11, Vietnam sent the eighth largest cohort of tertiary students to the United States.
This is one of the reasons why UBIS is so active in Vietnam. It is a new world of opportunities for international students or for Vietnamese students who whish to embrace an international oriented career.
Sources: McKinsey Quarterly; WES (World Education Services)