Vietnam IT recruiting firm raises million dollars from South Korean investor
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IT recruitment firm TopDev has secured a million-dollar investment from South Korea’s leading recruitment company Saramin HR.
The Ho Chi Minh City-based company said in a statement Monday that the deal, whose exact value it did not reveal, would be used to increase the supply of developers through training programs for graduates.
Saramin HR, which is listed on South Korea’s KOSDAQ, said the investment is part of its global development plan and would support TopDev’s potential expansion in Southeast Asia.
TopDev said Vietnam has 350,000-400,000 developers now but 500,000 would be needed by 2021 as the country remains a popular outsourcing software destination for multinationals.
Vietnam is seeing increasing investment in tech startups.
Last year the total investment in Vietnamese tech startups surged 2.5 times to $741 million, second only to Indonesia in Southeast Asia.
Questions & Answers
Q.What will TopDev use the new investment for?
What will TopDev use the new investment for?
The Ho Chi Minh City-based company plans to use the investment to increase the supply of developers. This will be achieved through training programs specifically designed for graduates.
Q.What is Saramin HR's reason for making this investment?
What is Saramin HR's reason for making this investment?
The South Korean company stated that the investment forms part of its global development plan. It also aims to support TopDev's potential expansion into the broader Southeast Asian region.
Q.Why is Vietnam's need for developers increasing significantly?
Why is Vietnam's need for developers increasing significantly?
Vietnam requires more developers because it remains a popular destination for outsourcing software among multinational companies. The country anticipates needing 500,000 developers by 2021.
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