Despite the aftermath of the global health crisis in Vietnam, an optimistic growth scenario is formulated for the next year, with proposals for heavy investment in infrastructure and practical support for the private sector to drive the economy forward and create more employment.
A World Bank report shows that workers in sectors and regions receiving high foreign direct investment (FDI) flows are more likely to find formal employment and receive higher wages, however, there is limited evidence on the effects on income distribution.
The Ministry of Labour, War Valids and Social Affairs (MoLISA) has proposed a VND18.6 trillion (US$798 million) package for those affected by the COVID-19 pandemic, helping them promote production and maintain employment.
The International Finance Corporation (IFC) is providing $140 million in loans to VPBank and OCB to help the two banks support local businesses with disrupted cash flows sustain operations and maintain employment.
Are robots coming to take Vietnamese jobs? Are iPads invading Vietnamese workplaces? Throughout the economic reform era, a key policy challenge for Vietnamese leaders has been to continually provide new employment opportunities for the country’s workforce. Recent commentary, both about Vietnam and other emerging economies, has begun to question whether private and foreign companies will continue to fill this salutary role.
The ongoing pandemic has completely upended lives and economies across the planet, restricting movement, shutting schools, forcing people to work from home, and jeopardising employment for millions. With that, the US business community is thankful that Vietnam’s leadership has taken serious and appropriate steps to mitigate the damage from this terrible virus.
Beverage maker Tan Hiep Phat decided employment and employee protection would be prioritized over business strategy and it’s worked, says Deputy CEO Tran Uyen Phuong.
Record falls were seen in output, new orders, employment and purchasing amid company shutdowns and the cancellation of orders.
The Covid-19 pandemic has cost nearly five million Vietnamese workers their jobs as of mid-April, bringing Q1 employment figures to a 10-year low.
Cambodia's quality and diversity of job opportunities are improving but need new policies to take advantage of the global market in the future, the World Bank said.