Vietnam ranks third after China and India for outsourcing information technology (IT) and software services to Japan, accounting for 0.5 percent of Japan’s market share, according to Nguyen Doan Hung, Vice Chairman of the Viet-Nhat (Vietnam-Japan) IT cooperation club, according to VOV News.

He emphasised the endless opportunities for cooperation between the two countries, saying that Vietnam’s outsourcing IT and software services are expected to increase their market share in Japan by 10 times within five years. The Japan IT Association (JISA) said annual growth of outsourcing IT and software services offered by Vietnamese software companies has doubled every year, reported VOV News

Many Vietnamese software companies earn 100 percent of their revenue from Japan, while the largest Software Company, FPT, earns 56 percent of its revenue from that country, according to VOV News

According to IT Business Edge, Vietnam has some 150 companies involved in outsourced software projects. The average workforce is 100-150 programmers, although some bigger companies employ up to 1,000 workers. The country's outsourcing revenues grew from about $20 million in 2002 to $180 million in 2007, according to the Vietnam National Institute of Software and Digital Content Industry.