Vietnam’s burgeoning blockchain sector is having to deal with a severe shortage of professionals, local media have revealed. Despite the large number of software engineers in the country, those with blockchain expertise fill less than one-fifth of the current demand, and companies are already seeking talent abroad.
Fierce competition for blockchain experts in Vietnamese companies
Vietnam is facing a talent shortage that is hindering the progress of projects in its rapidly developing blockchain industry, the English-language portal Bizhub reported. The Southeast Asian country has many talented software developers, but few have the necessary qualifications for distributed ledger technology, according to the report.
This shortage makes recruitment difficult, and Vietnam does not have many training programs to alleviate this problem, according to Trinh Ngoc Duc, chief executive officer of the company that developed the “Fight of the Ages” game. Quoting from the news, he elaborated.
The lack of experienced blockchain programmers has affected the product development process, leaving many potential projects unimplemented.
A shortage of blockchain professionals can already be seen in many industries, including finance, education, healthcare, logistics, and agriculture. More than 50 sectors of the Vietnamese economy have begun applying blockchain solutions, with about 600 projects in the game fi industry alone.
At the same time, existing human resources can only meet 15-20% of the demand, according to Kevin Tung Nguyen, CEO ofJobhopin. himself recently lost three employees who were offered more than three times their compensation at his company. He comments that the market is thirsty for blockchain programmers and the competition for them is fierce.
Blockchain companies in Vietnam are forced to seek foreign experts to fill vacancies
Nguyen Thi Ngoc Dung of the National Innovation Center confirmed that sourcing talent is a major problem for many companies in Vietnam’s rapidly growing blockchain sector. Some companies, she added, have begun looking for programmers in other countries such as the United Arab Emirates, India, South Korea, and Europe.
Dung believes one reason is that Vietnamese universities do not teach blockchain. She also believes that innovation centers and successful startups should launch their own short courses for students and expand international cooperation.
A survey conducted by VietnamworksVietnamworks Recruitment platform surveyed over 1,000 people working in the IT industry and found that blockchain engineers are the highest paid. However, Vietnam is not the only country experiencing difficulties in finding enough blockchain talent. According to Linkedin, a professional social media network, job postings in the U.S. for the keyword “blockchain” increased by about 400% in 2020-21.
Image credits: Shutterstock, Pixabay, Wiki Commons, huntergol hp