HRnetGroup targets Vietnam’s booming tech sector with new subsidiary

It notes interest in hiring of IT engineers, data scientists and product teams by companies in finance and banking, media and platforms, healthcare and public sector

Mainboard-listed HRnetGroup has expanded into Vietnam with the incorporation of a new wholly owned subsidiary.

The move to incorporate AllwaysFirst in Ho Chi Minh City marks the recruitment company’s 18th city of operation, it said in a bourse filing on Tuesday (Sep 9).

The expansion is a strategic entry into one of Asia’s fastest-growing economies, said HRnet. Vietnam’s gross domestic product grew by 7.1 per cent in 2024 to an estimated US$476.3 billion, and is forecast to expand 6.8 per cent in 2025.

AllwaysFirst will focus on professional recruitment in Vietnam’s growth sectors, particularly in IT and tech. The group noted the high demand for such talent in the country, which produces around 57,000 IT graduates annually.

There is “intense interest in the hiring of IT engineers, data scientists and product teams by companies in finance and banking, media and platforms, healthcare and the public sector”, said the group.

While HRnet said that any immediate contribution from the new subsidiary may not be material, it “takes a long-term view in cultivating depth and reach in new markets”.

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Shares of HRnet closed flat at S$0.71 on Tuesday before the announcement.