Asian workers are expected to enjoy the highest real wage growth in the world in 2018, thanks to a growing economy and changes in the region’s economic structure, the Nikkei Asian Review reported. Vietnam is expected to see wage growth of 4.6 percent in 2018, making the country the second best performer in the region after India, according to a recent survey conducted by human resources company Korn Ferry, which tracks 20 million workers in 25,000 organizations in 110 countries. Salaries in Vietnam are growing strongly as private consumption has emerged as an engine of growth along with manufacturing exports, even though concerns remain over the country’s rising private debts and signs of property market bubble, said HSBC bank. Despite the sharp rise, average wages for laborers in Vietnam remain low, failing to meet their basic daily expenses. The average wage for a laborer in Vietnam reached VND5.5 million ($247.7) per month in the last quarter of 2017, up 7.8 percent over the same period of 2016, according to the General Statistics Office. “The pay is so poor. My monthly salary is over VND6 million, but after deductions for insurance, I make only a little of more than 5.5 million,” Nguyen Thi Chinh, a 30-year-old worker at a woodwork producer in Hanoi’s Quang Minh Industrial Park said. Chinh, who left her home village at the age of 20 to work in the city, said workers in her factory earn much more than the minimum wage, but it is still not enough.…
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TruongThu Duong, 36, has a full-time job working for a newspaper published bythe Vietnam Union of Science and Technology Association. She earns astable income, but one year ago she decided to start selling clotheswith foreign fashion labels to help cover living expenses."Themonthly income of my full-time job is just enough to live in the mosteconomical way, especially since prices keep going up. I need more moneyfor my kids and for my own personal hobbies," she said.Duongcan't leave her office from 8am to 5pm so she has chosen to sellproducts online for those who are too busy to go around shopping.…... [read more]
Living with the past: Duong Ba Quy and Nguyen Thi Thuy look at the many medals and awards they have received for their heroic efforts during the American War. — File Photo Sisters in arms: A young Thuy takes aim. Like virtually every young person of her generation, she joined the national defence and protection service as a teenager. She has been awarded the title "Valiant soldier in defeating the US" seven times. — File Photo Duong Ba Quy and his wife Thuy braved death on a daily basis helping the North Vietnamese troops pass through the Demilitarised Zone.…... [read more]
The event, jointly organised by the Vietnamese Embassy in the RoK, theOverseas Labour Centre under the Ministry of Labour, War Invalids andSocial Affairs, the Uijeongbu Foreign Workers Centre and RoK HumanResource Development (HRD), attracted 300 Vietnamese workers. According to Luong Duc Long, Deputy Director of the Overseas LabourCentre, there are 17,471 Vietnamese labourers in RoK with work contractsexpiring in 2012, and 45 percent (7,900) of these people have returnedhome as scheduled. The number of Vietnamese workersfailing to return home on time is much higher than the 20 percentaverage of the 15 countries sending workers to the RoK. As a result,…... [read more]
This is the second toll hike made by the investor in the last five months Photo: Phung Cuong From April 1, 2016 the toll at two stations on National Highway 5 will be revised as per the Ministry of Finance’s (MoF) Circular No.153/2015/TT-BTC dated October 2015. The new toll level for vehicles of under 12 seats, trucks of below two tonnes, and public buses will increase to VND45,000 ($2), up from VND30,000 (14 cents) applied from December 1, 2015 to March 31, 2016. Meanwhile, the highest toll level applied to trucks of above 18 tonnes will jump to VND200,000 ($9),…... [read more]
VietNamNet Bridge – As the entertainment industry has become highly competitive, many performers and actors have shifted their focus to part-time jobs to supplement their incomes. Singer Ly Hai, who was well-known in the 1990s for his pop songs, now runs a film studio in HCM City’s District 10. “Audiences, particularly teenagers, prefer new and young faces. I’m still singing but just perform in shows in the provinces,” said Hai, who has 20 years of experience as a singer. "My second job helps me support my wife and four children," he added. Hai’s studio has worked with private film…... [read more]
The Vietnamese government has agreed to raise the minimum wage for 2017 by an average of 7.3 percent, the lowest level since 2007, when the decree on minimum wage increases took effect. The National Wage Council, which advises the government on compensation policies, decided last month to raise the monthly minimum wage for 2017 by 7.3 percent on-year to VND3.75 million ($168) per month. The government has signed off this proposal and will officially approve it this month, Deputy Prime Minister Vuong Dinh Hue said on Wednesday. Currently, minimum wages range between VND2.4-VND3.5 million ($108-$157) a month, depending on location. The Vietnam General Confederation…... [read more]
Labour confederation calls for higher wages. Illustrative image (Source: VNA)The Vietnam General Confederation of Labour (VGCL) on October 6 proposed a new minimum wage increase of 14.4 percent for the 2016 year, higher than the 12.4 percent increase decided by the National Wage Council back in September.The confederation stood firm by the argument that the country's workers were entitled to a minimum wage increase at least equal to the previous year, roughly 14 percent. They said that, especially with positive signs in the economy's first nine months of this year, wages should reflect next year's promising outlook. The 14.4 percent increase…... [read more]
South Korea and Taiwan are considering limiting entry to Vietnamese workers since the number of runaway Vietnamese workers who overstay their visas to work illegally in these countries has increased steadily, Vietnam’s Overseas Labor Management Department has warned. Vietnamese workers at a mechanical factory in Taiwan By 2011, 48 percent of Vietnamese workers in South Korea stayed on in the country after their contracts expired, the highest proportion among the 15 countries that sent workers to South Korea, the department reported. As a result, South Korea suspended a language test for Vietnamese workers in August 2011 and requested that…... [read more]
Vietnam is looking to raise its minimum monthly salary by 10-11 percent next year, the lowest level since 2013, a move that has still faced fierce opposition from the corporate sector. Le Dinh Quang, a senior official at the Vietnam General Confederation of Labor (the only legal trade union for Vietnamese workers), told the press at a policy dialogue on Wednesday in Hanoi that his organization has proposed an increase of VND250,000 - VND400,000 (US$11-$18), depending on the location. The government approved a minimum wage hike of 12.4 percent in 2016. Currently, minimum wages range between VND2.4-VND3.5 million ($108-$157) a…... [read more]
KOTRA: Vietnamese workers productiveDinh Hiep HCMC – Vietnamese labor costs have been on the steep rise but for South Korean firms, domestic workers are still productive, said the head of the Korea Trade-Investment Promotion Agency (KOTRA) in HCMC. Speaking at the Korea-Vietnam Job Fair for Global Talents 2016 last week, Park Sang-Hyup said the quality of Vietnamese labor is high, just behind one or two countries in the region. Some 4,500 Korean enterprises are operational in the nation, with around one million local workers employed. Many Korean firms that have invested in China are gradually moving to Vietnam as workers…... [read more]
