In the heart of Ho Chi Minh City’s bustling District 1, tucked inside a modest building on Le Thi Hong Gam Street, operates a company that—despite flying under the radar—is helping power the industrial backbone of Vietnam’s southern economic zones. NHAN KIET SUPPLYING MANPOWER COMPANY LIMITED (Vietnamese: CÔNG TY TNHH CUNG ỨNG NHÂN LỰC NHÂN KIỆT) has been in business since 2009, but recent financial data suggests this manpower outsourcing firm is no longer just a supporting player.

In 2023, the company posted a remarkable USD 138.34 million in revenue, a 29.34% jump from the prior year, outpacing many competitors in the increasingly vital labor supply sector. Specializing in temporary employment solutions, including sublet labor, payroll services, and seasonal staffing, Nhan Kiet is strategically positioned to meet the demands of both domestic manufacturers and multinational clients operating in industrial zones across Binh Duong, Tien Giang, and beyond.

With a lean internal staff of 300 employees, Nhan Kiet runs a high-volume operation built on agility. Its asset base rose 49.16% in 2023 to USD 13.63 million, while owner’s equity also climbed 21.15%, indicating a solidifying capital structure. The company’s net profit reached USD 629,033, reflecting not just top-line growth but also increasing operational efficiency—though margins remain thin due to the labor-intensive nature of its service.

What’s also notable is the firm’s modest charter capital of just over USD 410,000, which underscores its capital-light but cash-rich operating model. The company is majority-owned (82%) by General Director Mr. Do Huy Le, a veteran entrepreneur who has overseen Nhan Kiet’s expansion from a local hiring firm into a scalable platform with reach into logistics, education support, call centers, and even vocational training.

Beyond financials, Nhan Kiet’s role in the economy cannot be understated. As Vietnam continues to be a favored destination for global manufacturing relocation, flexible labor services like those provided by Nhan Kiet are increasingly essential for firms needing rapid workforce scale-up. The company’s reputation for compliance, legal labor supply, and localized knowledge makes it a preferred partner in a highly regulated and competitive space.

From a macroeconomic perspective, Nhan Kiet is emblematic of a larger trend: the formalization and professionalization of Vietnam’s workforce supply industry. While challenges remain, such as rising labor costs and stricter oversight, the company’s performance shows that disciplined, high-volume service providers can thrive.

In short, Nhan Kiet Supplying Manpower Company Limited is more than a service vendor. It’s a labor logistics engine quietly but crucially powering Vietnam’s growth, one shift at a time.