Vietnam’s manufacturing sector led the field in the search for senior personnel for the third consecutive quarter, according to recruitment firm Navigos Search, reports vietnamenews.vn. 

In its third-quarter report, Hanoi-based Navigos Search said the manufacturing sector accounted for 17% of the total demand for executives in the country, reflecting the improving business conditions in the sector.

The second-placed Information Technology (IT) sector had the sharpest increase in demand for senior and middle managers, from 9% last quarter to 15% this quarter.

Research found that growth in Vietnamese IT spending has been driven by rising incomes, enterprise modernisation, and the policy environment put in place by the government, said Navisgos Search CEO Nguyen Thi Van Anh.

Ms Van Anh added: "Meanwhile, Vietnam's development as an outsourcing destination is a significant medium-term factor for the growth of the IT sector, with the services segment expected to expand rapidly."

The Navigos Search report advised that Vietnam is on its way to becoming a global manufacturing centre for electronics production, as the average wage in China keeps rising.

Vietnam, where the average wage is about a third of China's, appears to be the new destination for international electronic manufacturers, the report stated, adding that many companies have recently said they are considering leaving China to protect their profit margins.

The Textiles and Garment sector ranked third in the top five sectors in need of executive personnel with 10% of total demand, rising from fifth place last quarter.

The two remaining top-five sectors, on the other hand, saw demand dropping. The fourth-ranked Fast-moving Consumer Goods (FMCG)/Retails sector saw a decline from 14% in the second quarter to 9% in the third; and from 10% to 7% in the Finance-Banking-Securities-Insurance (FBSI) sector.