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Companies Relocating From China Boosting Jobs In Vietnam, Report Says

ECONOMIC NEWS - Vietnam
February 2019

Recruitment demand in Vietnam is set to increase as company relocations from China to Vietnam rise. This particularly concerns demand for senior positions in real estate and consumer electronics according to a new report by Navigos Group, the recruitment company behind two of the biggest job portals in Vietnam. The two sectors most affected are the real estate market and the consumer electronics sector.

For the real estate market, the steady influx of FDI is creating more jobs in the sector. Investors are looking to reshape their portfolios, affecting FDI inflows and supply chains in the market. The main reasons for this are the shift in production from China to Vietnam and increased FDI inflows.

In Q4 2018 large-scale real estate projects gave rise to a higher recruitment demand, in particular for sales and marketing positions. The real-estate market is predicted to report a steady growth in 2019, with job opportunities opening up associated with sales and investment. The concentration of industrial parks in the Northern provinces will lead to growth in hiring demand, particularly in Hanoi’s neighboring provinces.

The consumer electronics sector will see a shift from traditional sales channels to e-commerce, driven by the fierce competition from top e-commerce firms with strong financial backing. In this very competitive sector, all companies are reported to have business expansion plans. Nevertheless the report contends there are still niche market to exploit for companies. The electronic manufacturing sector will likely have an increased need for recruitment, which includes mid- and high-level positions such as supervisors and plant managers. Some companies with FDI in this segment are wrestling with recruitment difficulties after relocation to Vietnam as salaries are not necessarily competitive. 

With more companies entering Vietnam, the demand for marketing posts is also increasing, particularly from multinational firms.

(Source: Vietnam News; Navigos Group)