The U.S.-headquartered Bain & Company, a leading global management consulting firm, opened its first Vietnam office in Ho Chi Minh City on Wednesday.
The new office marked the establishment of the firm’s physical presence by a tenured group of partners and team members. The group has a long track record of serving global and local corporates as well as financial investors in Vietnam over the last 20 years.
“We are excited to expand our global footprint in Vietnam, one of the most vibrant and fastest growing economies in Southeast Asia,” said Wade Cruse, managing partner for Southeast Asia at Bain & Company.
The strategic move underscores Bain’s commitment to serve the dynamic and rapidly growing Vietnamese market, further strengthening its presence in Southeast Asia.
The new office will facilitate closer collaboration with local businesses and multinational corporations, providing them access to Bain’s extensive global expertise, particularly in the areas of technology, digital innovation and sustainability.
Several domains represent the majority of the consulting firm work including business transformations to achieve full potential and to re-define strategy and operations in times of uncertainty; innovation via technology, including Industry 4.0 solutions, Generative AI; sustainability efforts to support the transition to net zero across business sectors; and merger and acquisition (M&A) advisory to investors and corporates when making landmark acquisitions in Vietnam.
In Vietnam, Bain has signed an agreement with FPT Digital - adding the reputable company to its bench of partners. The collaboration will enable Bain to support digital transformations efforts across multiple business sectors and industries.
The Vietnam office will operate in conjunction with Bangkok, Jakarta, Kuala Lumpur, Manila, and Singapore teams as Bain Southeast Asia.
Speaking at the opening ceremony, Wade Cruse said Vietnam and India are two attractive destinations for investment in semiconductor. Bain’s customers in the semiconductor sector rate Vietnam among the top two locations for investment, the executive added.
Also on Wednesday, the Saigon Hi-tech Park (SHTP) in HCMC inaugurated its Electronics and Semiconductor Center (ESC). The inaugural event had the attendance of Deputy Prime Minister Tran Hong Ha, Minister of Education and Training Nguyen Kim Son, Minister of Information and Communications Nguyen Manh Hung, Minister of Science and Technology Huynh Thanh Dat, HCMC Chairman Phan Van Mai, and others.
The ESC is established at the merger of the SHTP Chip Design Center (SCDC) and the International Electronics Training Center (IETC), both located in SHTP. The SCDC is a collaboration between the SHTP and the U.S.-based chip software firm Synopsys. The IETC is a cooperation between the SHTP’s training center and HCMC-based electronics manufacturing services (EMS) firm Sun Electronics JSC.