Society
Vietnam's semiconductor industry requires more talent
Human resources remain a major obstacle for Vietnam establishing a stronger position in the global semiconductor industry.
Society
Taxable revenue threshold for household businesses doubled
The adjustment aims for greater flexibility, with the threshold to be raised to approximately VND1 billion ($38,000) to reflect economic realities, support household businesses, and ensure budget balance.
Society
Looming pressure on Vietnam's economic growth
Though results indicate a degree of recovery momentum in Q1 and March, ongoing global headwinds continue to pose concerns for Vietnam macro-economic situation.
Vietnam & Laos strengthen cooperation in social security
On August 25, Vietnam Social Security and the Laos National Social Security Administration held a working session to evaluate the implementation of an MoU for the 2016-2020 period and discuss cooperation activities in the future.
Disbursement of housing rental support rising rapidly
According to the Ministry of Labor, Invalids and Social Affairs, the disbursement of housing rental support for workers is rising rapidly in most cities and provinces, reaching nearly 52 per cent of applications in total. Seventeen localities have disbursed support for all applications. In Hanoi, 320,000 workers have received support, or 100.5 per cent of the number expected.
Health financing in need of regulation
Amendments to the Law on Medical Examination and Treatment have become necessary. Financial mechanisms are now an issue in the health sector that requires a legal corridor for medical examination and treatment facilities to feel secure.
Vietnamese salaries far behind regional levels
A representative from ManpowerGroup Vietnam presented survey data on Vietnam’s labor market at the “Development of a flexible, modern, sustainable and integrated labor market” conference. Low skills and low English use partly contribute to salaries for Vietnamese workers being far behind those in the region.
Labor market developing unevenly
According to Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung, Vietnam’s labor market is experiencing a partial imbalance in supply and demand as well as uneven development due to an excess of under-qualified and low-skilled workers and a shortage of high-quality human resources. If the latter is not improved, Vietnam will gradually lose its appeal among foreign investors.
Certain sectors to lack high-quality workers
Vietnam’s labor market has recovered relatively well but shortages are still being seen. It has been forecast that there will be a serious shortage of high-quality human resources in finance, information technology, and logistics.