The Hanoitimes - Following the rapid globalization, a number of multinational companies have shifted their locations to Vietnam from China.
Demand for qualified employees in Vietnam will rise as multinational companies move out of China in the changing globalization, Vietnam News Agency reported, citing recruitment firm Navigos.
Recruitment demand, especially senior positions in consumer electronics and real estate, is expected to increase in Vietnam following the relocation and rising foreign direct investment (FDI), said Navigos Group, which operates two of the biggest job portals VietnamWorks and Navigos Search in Vietnam.
Companies’ shifting to Vietnam
Following the rapid globalization, a number of multinational companies have shifted their locations to Vietnam from China due to higher labor cost and unexpected issues caused in the China-US trade war.
Meanwhile, investment incentives have turned Vietnam into a magnet for international investment, mostly in electronics and real estate over the past years.
In addition, many foreign enterprises working in electrical and electronics field in the northern coastal city of Haiphong and the northern province of Bac Ninh also planned to expand business since the last quarter 2018.
Tran Anh Tuan, deputy head of Ho Chi Minh City’s Human Resources Forecasting and Labor Market Information Center, said that more enterprises in the electronic commercial industry will be set up in Vietnam and the city, creating many jobs.
Lazada Sales Head and Alibaba Vietnam Country Manager Tran Xuan Thuy said that multinational companies tend to recruit senior managers from other countries when they begin operating in Vietnam due to lack of qualified Vietnamese manpower.
But after several years, qualified Vietnamese employees will take over these jobs occupied by foreigners, he said.
FDI inflows continue to stream into the property sector, creating more jobs in the market.
In the last quarter 2018, the real estate market saw several “super” projects, leading to high recruitment demand, especially positions related to sales and marketing, according to Navigos Group.
In 2019, the real estate market is expected to grow steadily with the good performance of the condo market, resulting in demand for positions related to investment and sales, it said.
The market in the northern provinces, especially Hanoi’s neighboring provinces, and the concentration of many industrial parks will lead to growth in hiring demand.
In 2018, foreign direct investment (FDI) into Vietnam’s real estate sector hit US$6.6 billion, accounting for 18.6% of the total foreign investment, statistics by the Ministry of Planning and Investment showed.
But manpower for real estate sector should be good enough with soft skills that not seen in many other sectors, according to Nguyen Hoang Tuan, general director of Yeshouse JSC.