Chief Digital Technology Officer & SVP
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Are there Any Bargains Left?
Fuel costs more. Food costs more. Travel costs more. And not just here. Prices are going up around the world, from the U.S. to China to India. This week The New York Times focused on a business bargain that I, and the rest of us here at Harvey Nash, have been talking to you about for years now. The article "Investors Seek Asian Options to Costly China" by Keith Bradsher takes a look at Vietnam, the location of Harvey Nash's offshore development centers. The piece focuses on the fact that many businesses are expanding their Asian bases outside of China and a great many of them are choosing Vietnam as their next location.
As the article points out, the economy has rapidly developed in Vietnam thanks to the availability of land and labor. In addition, there is stability and government support of business investment and labor costs are still low -- an important bargain for businesses to keep in mind.
Vietnam has so much to offer, but in my mind the biggest value is its talent. I am not speaking of the fact that labor is a bargain (a very big bargain today). Instead, I am talking about how rich in professional talent Vietnam is.
Having spent a great deal of time working with my Vietnamese colleagues -- expert IT teams that deliver our IT services to customers around the world -- I have a firsthand understanding of the technical capabilities in the Vietnamese IT industry today. They are world-class professionals and competitive with any IT talent pool I have worked with across the globe. They are innovators and problem solvers who are constantly evolving their skills.
Innovation is never cheap -- and today it often feels like nothing is cheap, as inflation drives up the price of most everything. But as the cost of labor holds in Vietnam, businesses have an opportunity to work with some of the world's best technical brains at an astounding bargain. And as The New York Times points out, businesses are taking advantage.