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Category: Labour

Human Resources in Vietnam: Ultimate Guide 2024

Vietnam’s human resources landscape is undergoing significant transformation as the country integrates more into the global economy. With rapid economic growth, companies are increasingly focused on strategic HR management to align with both local and international standards. With all of this in mind, this article looks at the key human resources related factors foreign firms should be aware of when operating in Vietnam.

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Labour Contracts in Vietnam: Ultimate Guide 2024

In Vietnam, labour contracts are governed by the Labour Code, which establishes the rights and obligations of both employers and employees. Labour contracts must be clearly defined and meet specific legal requirements to ensure the protection of both parties. Here is a detailed overview of the key elements of labour contracts in Vietnam:

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Private sector CEOs in Vietnam on almost double SOE counterparts

Notably, earlier this year the Prime Minister of Vietnam, Pham Minh Chinh, suggested SOEs should consider foreigners for executive positions. He went on to say that better remuneration packages and higher salaries would be key. This latest development adds some context to the Prime Minister’s remarks and suggests that improvement in remuneration would need to be sizable.

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Vietnam ‘unlikely’ to see minimum wage hike in 2025

Of note, the National Wage Council meets at least once a year to discuss the minimum wage in Vietnam. That said, the minimum wage does not necessarily rise every year. For example, during COVID minimum wage rises were put on hold. Similarly, as Vietnam’s economy struggled in 2023 minimum wage hikes were delayed until 2024…

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Vietnam PM suggests foreign workers for executive roles at state-owned enterprises

In the past the leaders of SOEs have always been members of the Communist Party of Vietnam which has significantly reduced the talent pool from which to draw–there are currently only a little over 5 million members of the party or around 5 percent of the population. This also leaves these positions open to being filled through political jostling and networking often connected to seniority and an individual’s position within the party more broadly, rather than merit and qualifications…

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Intel executive laments poor labour productivity in Vietnam

Labour productivity is a recurring theme in Vietnam with the country trailing in Southeast Asia. In 2021, it was fourth to last of ASEAN member states (excluding Burnei), ahead of only Myanmar, Cambodia, and Lao. According to the Asian Productivity Organisation Vietnamese workers were productive to the tune of…

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Vietnam minimum wage regions to change at next wage hike

The four regions by which Vietnam defines what minimum wage should be paid where, are to be updated this year when the minimum wage rises in July. This will see several local government areas move up a bracket giving an extra boost to minimum wage workers in these areas. Moving

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Minimum wage hike of 6 percent submitted to Vietnam government for approval

This will be welcome news for Vietnam’s minimum wage workers with no minimum wage hike last year despite inflation floating around 4 percent. The Vietnam General Confederation of Labor had been pushing for between 6.48 percent and 7.3 percent with the Vietnam Chamber of Commerce and Industry, a peak business representative body, pushing for between 4.5 and 5 percent. Vietnam’s National Wage Council, which makes recommendations to the ministry, looks to have essentially split the difference.

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Cutting the 48 hour work week back in the news in Vietnam

Overtures have been made by the Vietnam General Confederation of Labour–the VGLC–to the Ministry of Labor, War Invalids and Social Affairs to reduce standard working hours below the current 48 hours a week. This was announced back in January, however, in recent weeks the idea has gained traction with local

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Vietnam set to ratify key UN trade union convention this year

Vietnam is set to ratify the UN’s Freedom of Association and Protection of the Right to Organise Convention this year, Reuters is reporting citing UN officials and diplomats.This would essential give workers the right to organise their own trade unions independent of the government–currently, all trade unions must be affiliated

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Vietnam to see minimum wage hike from July 2024

Vietnam’s National Wage council has approved a 6 percent pay raise for Vietnam’s minimum wage workers from July 1, 2024, VN Express is reporting. The Vietnam General Confederation of Labor had been pushing for between 6.48 percent and 7.3 percent whereas the Vietnam Chamber of Commerce and Industry, a peak

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Claims for unemployment benefits in HCMC fall in November

Only 13,300 people were registered to receive unemployment benefits in HCMC in November, a drop of nearly 25 percent from June, VN Express is reporting. The publication is saying that this is a sign that the wave of layoffs that have plagued the manufacturing sector may have slowed this year. 

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Survey finds 2023 salary increase in Vietnam of 7.5 percent

Aon’s 2023 Salary Increase and Turnover Report has found that Vietnam has seen an actual salary increase of 7.5 percent this year, Human Resources Online is reporting. The report also found an expected increase in 2024 of 8 percent and says that tech sector wages in Vietnam are expected to

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Vietnam tech workers laid off on low demand, lack of skills

Vietnam’s tech sector has been hit with a wave of layoffs on the back of reduced demand but also a lack of skills, VN Express is reporting. It’s quoting data from TopDev which found that almost 90 percent of companies were looking to recruit less than 50 programmers this year,

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