Business News

Vietnam is becoming an attractive destination for foreign investors as several of the world’s largest technology corporations plan to shift their production chains to Vietnam, leading to certain changes in the structure and productivity of the labour market.

As soon as the new law came into force in early January, a great number of employers, especially foreign-invested enterprises (FIEs), displayed their dissatisfaction with Article 32.3 which stipulated that part-time employees shall be entitled to receive rights and obligations equal to those of full-time employees, including in equal opportunities, safety, and hygienic working environments.

The job market will slightly pick up in 2021, with more recruitment demand for employees in manufacturing, IT, banking, and insurance industry, according to a report on the middle and senior recruitment demands in Vietnam by Navigos Vietnam.

The Government has issued Decree No.152/2020/ND-CP regarding foreigners working in Viet Nam and recruitment and management of Vietnamese working for foreign organizations and individuals in Viet Nam.

The International Labour Organization (ILO) has welcomed the new rights of workers and employers in Việt Nam from January 1 as the revised Labour Code adopted in 2019 takes effect.

It aimed to collect feedback from experts on two draft projects of the Ministry of Labour, Invalids and Social Affairs (MOLISA) on supporting the development of the labour market until 2030 and improving labour supply-demand forecasting capacity.

At present, the retirement age for regular labourers is 60 for men and 55 for women. People who do heavy, hazardous or dangerous work or employees working in a place with harsh living conditions can retire at 55 for men and 50 for women. High-skilled workers work until 65 for men and 60 for women.

More jobs were created in the third quarter of this year on the back of the country’s economic resurgence, a press conference held by the General Statistics Office (GSO) on October 6 heard.