Foreign Investment Fuels Hiring Boom in Vietnam

German business consultancy SAP has announced a significant investment of EUR150 million (US$175 million) over the next five years in its SAP Labs Vietnam research and development center located in HCMC. This move has already resulted in the hiring of over 200 people since September last year, with plans to add another 350 this year.

Technology Sector Leads the Charge

The technology sector has seen a remarkable 30% year-on-year increase in hiring demand in the second quarter, as reported by Adecco, a leading recruitment and outsourcing company. This surge is largely attributed to the expansion of technology centers by foreign corporations in Vietnam.

Honda and Foxconn Expand Operations

Beyond the tech sector, companies like Honda and Foxconn are also on a hiring spree. Honda's factory in Phu Tho province hired hundreds to support electric two-wheeler sales, while Foxconn in Bac Ninh is seeking engineers and warehouse staff.

Manufacturing and Engineering Demand Surges

Adecco reports a 59% year-on-year increase in demand within manufacturing and engineering, driven by a 27% jump in foreign direct investment, totaling $13.6 billion in the first seven months of the year.

Renewable Energy Sector Emerges as a Hiring Hotspot

The renewable energy sector is also experiencing a hiring wave, with a 62% surge in recruitment for projects in solar, wind, and liquefied gas in provinces like Ninh Thuan and Thanh Hoa.

Labor Market Outlook Brightens

Despite some enterprises trimming their workforce, the overall trend is positive, with 56.2% planning to expand their teams in the third quarter. Key roles in sales, production, and technical engineering are in high demand.

Future Hiring Strategies

Chuong Nguyen of Adecco Vietnam anticipates a stable hiring trajectory, with a focus on roles that align with future trends to enhance adaptability and operational efficiency.