American gal sets up internet biz in Cambodia: she sell hair (to be more accurate “hair extensions”) globally http://dealbook.nytimes.com/2012/05/28/in-cambodia-a-start-up-uses-the-internet-to-sell-hair/
Software dev is big biz in Vietnam
“Ten years ago, you could count the number of IT companies using your fingers,” he says.
Now there are more than 750 software companies employing some 35,000 people. Among them, 150 are outsourcing firms.
Industry sources suggest that Vietnam is currently among the top five outsourcing destinations in Asia.
Vietnamese companies are manufacturing software and games for foreign companies, and are starting to export mobile phone apps overseas.
A young population and cheap labour costs are two major advantages that many start-ups have been tapping. The government in Vietnam has also been very encouraging, seeing information technology as beneficial for the country’s economy.
Charles Speyer, co-founder of Glass Egg Digital Media, a console game art outsourcing company, says the environment has been “very friendly for software companies”.
“We received our licence after less than a week,” he says.
“At Glass Egg we have always had to train our 3D artists, but there are good coders coming straight out of school in Vietnam.”
However Mr Speyer warns that although there is a lot of potential, the innovation industry in Vietnam will take some time to develop because of the inadequate education system.
“The education system is not geared towards creating innovators and that does not seem to be changing any time soon under the current government guidelines.”