Surging recruitment demand in Vietnam’s manufacturing sector
In the last decade, manufacturing sector became Vietnam’s key driver of economic growth.
Companies such as Samsung, LG and Intel already invested billions of USD to their Vietnam-based manufacturing sites. Recent developments (Manufacturing in Vietnam as we enter to 2018; The rise of manufacturing in April) also point to an ever increasing and developing sector.
With this in mind, it is not a surprise that the sector’s demand for employees had the highest demand among all sectors in Vietnam. According to recruitment company Navigos Group, during the first quarter, positions ranging from manual workers to engineers and managers were abundant. Some companies started opening their doors to foreign employees, mostly for management positions.
Industrial parks, mostly in northern Vietnam, are experiencing constant lack of employees. New FDI companies, especially from the electronics sector, are continuously being opened, as the investment boom continues (in Q1, Vietnam attracted $5.8 billion in FDI, a decline of 25% compared to 2017; however, FDI disbursement reached $3.9 billion, an increase of 7.2% compared to last year). As an example, some South Korean companies are planning to expand their operations, and are looking into adding as many as 10,000 employees to their operations.
Below manufacturing, sectors such as retail, finance & banking and IT were other major sources of new employment. The latest data shows that there are 48.1 million working-people in Vietnam.
After more than 12 years of experience operating in the Vietnamese market, and dozens of recruitment projects, we have built the right know-how and network to find and select the best-suitable local employees working in various industries. If you are looking to hire mid- and/or senior management, do not hesitate to contact us!