Michael Page: Vietnam surges to the front of Southeast Asia’s fintech race

HO
CHI MINH CITY, VIETNAM – Media
OutReach – 27 December 2019 – As Vietnam shifts its focus from low-tech manufacturing to a
service-oriented economy, more efforts are going into building its information
technology (IT) industry. Vietnam continues to grow as a regional market for
both domestic and global technology companies.

One of
the sectors within the tech industry showing great promise for growth is
Vietnam’s fintech industry, expected to hit US$7.8 billion in revenue by 2020.
An estimated 120 companies and brands cover a wide range of services, from
wealth management to blockchain and digital payments.

Details from the Vietnam
Employment Outlook 2020 published
by professional recruitment services firm — Michael Page, draws attention to
the growth and transformation of the financial services and fintech industries.

Mark Donnelly, Director at Michael Page Vietnam added, “The continued movement of the technology,
software, gaming and mobile segments, makes for a buoyant conversation around
the start-up market, and marks technology in general as an exciting space.”

Vietnam’s FMCG industry also looks set for success in
the coming year. According to the Employment Outlook 2020, employees can expect
a 15 — 20% average salary increase when switching jobs within similar
industries.

“In Michael Page Vietnam’s growing industry segments,
we continue to see a race for market-ready talent. In particular, professionals
with a strong track record, who are looking to move their careers forward
across some of the fastest growing disciplines including digital, property, fintech,
manufacturing and FMCG,” commented Mark Donnelly.  

As Vietnam’s economy accelerates, the search for
skilled top talent to fuel that growth continues. While technical skills go a
long way in numerous specialised fields, organisations are keen to hire
employees with not just technical capabilities, but the soft skills required to
succeed and lead at the workplace.

According to the report, conflict management, change
management, mentorship, stress management and communication were cited as the
top sought-after soft skills in today’s workplace.

Download the full Michael Page Vietnam Employment
Outlook 2020report here.

Editor’s notes: The Michael Page Vietnam Employment Outlook 2020 is derived from 1,000 data points in our proprietary
data and network, which includes job advertisements and placements from July
2018 to June 2019.