International award-winning executive recruitment company Monroe Consulting Group, which specialises in emerging markets in the Asia-Pacific region, has announced that it is opening new operations in Vietnam in early 2017.
Andrew Hairs, group managing director of Monroe, said the executive recruitment company, already well established in Southeast Asia, had a long association with the country through its operations via Monroe Thailand, and had been eying entering the exciting Vietnamese market for at least six years.
“The government of Vietnam has undertaken a series of recent steps to help promote foreign investment, including initiatives in a number of key sectors such as technology, healthcare, construction and trading,” Andrew said, adding that US$14.5 billion in foreign investment flowed into the country in 2015, almost 20 percent up on the previous year.
“GDP is up, salaries are increasing, the demand for human resources and recruitment is increasing, and it is simply a great opportunity for Monroe to complete our footprint in Southeast Asia with an office in Vietnam.”
Andrew said the strength of the economy was a positive factor, but so too were the encouraging signals from the Vietnamese government that the country was open for business. “The ease of doing business is now a lot less restrictive than in a lot of neighbouring countries,” he said. “There are still hoops to go through but it seems like a much fairer platform on which to operate.”
Andrew said the recruitment company, which currently operates in China, Thailand, Philippines, Malaysia, Indonesia, Chile and Mexico, had secured the services of one of Vietnam’s leading recruitment and management consultants as Managing Director, and was currently finalising negotiations for offices in District 1, Ho Chi Minh City.
He said the company had already placed a number of executives with leading companies in Vietnam through Monroe Thailand and was looking forward to increasing its presence. Monroe Vietnam would open in January, 2017, after an initial four-strong team of recruitment consultants had undergone extensive training conducted by Monroe’s full-time in-house trainer, he said.
“We will be undertaking the same approach that we have always taken in any country in which we operate – sensible, organic growth,” he said. “This allows us to grow a recruitment business that provides a high and consistent level of service expected by our clients, which includes many of highest profile multinational companies operating in Southeast Asia, as well as regional conglomerates.”
Andrew said this approach to quality had resulted in the company receiving a number of international recruitment awards. The company won Best Small Recruitment Business in 2013, 2014 and 2015, and Best Overseas Operation in 2013 and 2015 at the Global Recruiter Asia Pacific Awards.
“Our success stems from our understanding of the frontier markets. Our business model and our internal methods have all been developed to meet the demands of emerging markets and I think that as a company we tend to focus on the quality of the service that we provide,” he said. “The major factor, however, is our commitment to training and development.”
Monroe has five internal divisions, namely Consumer Goods, Industry, Health, Technology and Professional, which comprises the banking, finance and insurance industries. Andrew said this was a good match with Vietnam.
He said he expected the Industrial and Technology divisions to be particularly competitive, as well as the Professional division, which in addition to banking, finance and insurance, covered business consulting and market research companies.
“Monroe Consulting Group has played a part in the recruitment of thousands of key executives for leading companies in the countries in which we operate and we expect that this will continue in Vietnam,” Andrew said. “It is a new, exciting chapter in the history of Monroe and we are looking forward to bringing our recruitment services to Vietnam.”