The opening marks the first time an Eastern European software service provider has established a presence in Vietnam. It also makes Luxoft the first provider in its region to offer a truly global delivery model.

"Companies today are looking for effective ways to cut costs and improve their bottom line without sacrificing quality," said Dmitry Loschinin, CEO and President of Luxoft. "By enhancing our global footprint, we are proactively mitigating our clients' cost pressures while preserving the culture of innovation, rock solid execution and engineering excellence that customers have come to expect from Luxoft."

With delivery locations across EMEA, North America, Central and Eastern Europe, the addition of the Vietnam delivery centre further enhances Luxoft's ability to provide worldwide clientele with the optimal mix of nearshore, offshore and onsite delivery models. The Vietnam delivery centre is ideally positioned for clients looking to diversify their sourcing geography portfolio and lower their outsourcing costs. It will service both ISV and enterprise customers and will offer a comprehensive set of application and product development services.

Luxoft's clients will benefit from Vietnam's relatively untapped skilled labour force, solid education system, high English proficiency, low attrition and competitive cost structure. NeoIT ranked Vietnam's Ho Chi Minh City as the top non-Indian city in its 2006 review of the most competitive cities for outsourcing, based on the available labour pool and infrastructure.

"Vietnam's economy is booming and we offer a skilled workforce, a fast growing education system, political stability and lower costs," said Mr. Truong Gia Binh, head of the Vietnam Software Association. "Luxoft is perfectly poised to take advantage of all we have to offer and deliver tangible benefits to its customers worldwide."