Vietnam has emerged as a premier destination for software development in the Asia-Pacific (APAC) region, earning the title of “A small but mighty powerhouse” by Forbes. With exceptional progress in education, a stable economy, tech literacy, and effective remote development capabilities, Vietnam is setting a new benchmark for the software development industry in APAC.
Vietnam’s tech industry is thriving and has been experiencing exponential growth. In 2023, Vietnamese tech
startups secured over $1.5 billion in venture capital funding. This influx of investment demonstrates the
confidence and support from investors, solidifying Vietnam’s position as a tech powerhouse.
According to the e-Conomy SEA
2023
report by Google, Bain & Company, and Temasek, Vietnam’s digital economy
is projected to reach $50 billion by 2025, making it the fastest-growing market in Southeast Asia. The
digitalization of various industries is expected to reach a minimum of 11% and contribute 20% to the
country’s GDP. This is a testament to the innovative spirit and hard work of the Vietnamese people.