Vietnam Navigating the future of IT services sector

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1 Vietnam Navigating the future of IT services sector Dr. Nguyen Cong Ai Head of Strategy Group, KPMG Vietnam October, 2017

2 Contents Introduction Positioning Where are we? Navigating The way forward 2017 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Legal Limited, all Vietnamese limited liability companies and member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. 8

3 A note about our methodology Our data and information is based on the result of a survey of IT related industry businesses and universities Survey was conducted in August September respondents % % 69% Vietnam Non-Asian business Asian business Private Universities/Associations Foreign invested State-owned

4 Why Vietnam?

5 Most investors see Vietnam as an attractive destination 88% of our surveyed respondents predict sector growth of 15% or more in the next 3 years Low (< 7%) Medium (7%) Very high (> 25%) High (> 15%) 1% 12% 39% 53% 73% of our surveyed respondent believe Vietnam remains a low-to-medium cost operating market Very high High Medium Low Very low 1% 2% 20% 26% 51% Source: KPMG ITO survey 2017

6 Friendly business environment Investors agree that most critical success factors are competitive labour cost, low investment cost, attractive tax incentives, and strategic location 90% 87% 78% 77% Source: KPMG ITO survey 2017 Competitive labor cost Low investment cost Attractive tax incentives Strategic geographical location

7 Competitive utilities costs Electricity for business use (USD / kwh) Water for business use (USD / m 3 ) Fuel - Diesel (USD / liter) Manila, Philippines Beijing, China Manila, Philippines Beijing, China Manila, Philippines Beijing, China Guangzhou, China 0.14 Guangzhou, China 0.57 Guangzhou, China 1.18 Kuala Lumpur, Malaysia 0.13 Kuala Lumpur, Malaysia 0.63 Kuala Lumpur, Malaysia 0.65 Jakarta, Indonesia 0.13 Jakarta, Indonesia 1.03 Jakarta, Indonesia 0.62 Ho Chi Minh, Vietnam 0.11 Ho Chi Minh, Vietnam 0.65 Ho Chi Minh, Vietnam 0.89 Bangkok, Thailand 0.08 Bangkok, Thailand 0.39 Bangkok, Thailand 0.87 Vietnam has a competitive advantage regionally in terms of its low manufacturing costs and become a destination of choice in the future as a production base Source: Langdon and Seah

8 Human resources

9 An internationally recognized workforce Skillful IT labor force More than 90% Good customer services Good technical skills 59% 75% of surveyed respondents agree that Vietnam IT engineering workforce is very good at management skill and adoption of new technology Fast adoption of new technology Good management skill 90% 93% Vietnamese software engineers learn things quickly. As long as you teach them properly, they learn well. Japanese IT Outsourcing Engineer Recruitment Executive Source: KPMG ITO survey 2017

10 Plenty of skilled labor 73% of our surveyed universities expect the growth of IT students in coming years to be from 10% or more 80% of workforce at surveyed companies have IT specialized undergraduate degree Source: KPMG ITO survey 2017

11 Labor costs are relatively low 61% of our surveyed respondents disclose average monthly salary for IT engineers is less than USD800 per month 69% of the companies also expect that the average annual salary growth rate for IT engineer will be at about 15% in the coming years USD800 1,600 36% 61% Below USD800 69% Average annual growth rate of 15% Source: KPMG ITO survey 2017

12 Digital transformation: Disrupt or be Disrupted

13 Digital Disruption has already happened 29% of our surveyed respondents have generated revenue from new technology products & services (IoT, Big Data & Analytics, Augmented Reality, etc.) in % These are the areas for strong development in VN in the years to come: Artificial Intelligence, Machine learning, Big data, Mobile, IoT/IoE CEO of an American software testing and development company New IT technology will play important part for the country development, in the era of industry 4.0, especially in agriculture and industrial manufacture of Vietnam Vice President of a leading global IT solutions founded in the US Source: KPMG ITO survey 2017

14 Sharpening human resources 93% of our surveyed universities have plans to develop programs / courses in new technology products & services 20% Industry 4.0 will result in a shortage of technically, digitally skilled-people. Therefore, we need to develop new models of education, reconfiguring the way student are educated and trained Program Director of a leading Vietnamese University University s mission is to produce knowledge that is relevant to industry, design courses that more accurately fit industry s needs Recruitment Director of a reputable University in the central of Vietnam 93% 51% Source: KPMG ITO survey 2017

15 Overall, what to be considered critical by investors? 72% Having plentiful IT labor supply Transparent regulation framework 56% 70% With high quality skills Trusted cyber security 55% 63% Availability of good quality IT infrastructure Favorable tax policy 51% Source: KPMG ITO survey 2017

16 How the Government can support? Favorable Policies support Holistic infrastructure system Investing in human resource Fostering innovation Transparent investment climate Decentralization of licensing authority Improvement of legal system Encourage investment in hitech sector (tax incentives, government funding, duties exemption, etc.) Bilateral investment agreements Continue to invest in telecommunication infrastructure Implementation of e- government and reform administrative process Enhance country cybersecurity Attract foreign investment in higher education Provide funding and other support to institutions Have a system of monitoring / evaluating quality Encourage universities to invest in staffs and programs in digital technologies Facilitate catalytic events that bring entrepreneurs together Reorganize existing incubators along a holistic format that integrates incubated firms

17 Thank you Your KPMG contact is: Nguyen Cong Ai Partner Deal Advisory Head of Strategy Group Tel: ext.8235 Mobile: The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation KPMG Limited, KPMG Tax and Advisory Limited, KPMG Legal Limited, all Vietnamese limited liability companies and member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved.

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