return icon

ASEAN Economic Community to open door for more foreign workers in Vietnam

VietNamNet Bridge – Vietnam has been warned that it could witness a strong wave of workers from ASEAN countries after the the ASEAN Economic Community becomes official next year.

VietNamNet Bridge – Vietnam has been warned that it could witness a strong wave of workers from ASEAN countries after the the ASEAN Economic Community (AEC) becomes official next year.


Ryan Lee, managing director of Moldpia Byuckjin, a South Korean enterprise specializing in making prototypes at its factory in the Thach That Industrial Zone in Hanoi, said the company set up in Viet Nam to take full advantage of the cheap and skilled labor force. However, he said that the company realised that recruiting skilled workers was not as easy as they had thought.

“The labor force is abundant, but qualifications were lower than expected,” he noted.

In order to find qualified workers, the company has had to cooperate with the Hyundai Vocational Training Center, which helps find Vietnamese workers who have worked at factories in South Korea from four to five years.

Meanwhile, to recruit administrative personnel, the company looks for candidates among new university graduate, who then have to undergo training courses in English and soft skills.

Ryan said he was not recruiting workers outside Vietnam, but once the AEC takes shape, he will consider employing technically skilled workers from Malaysia.

Mark Lee, managing director of the Singapore-based garment company SL Global Pte, which has factories in Malaysia, Sri Lanka, Cambodia, China and Vietnam, also complained that it is difficult to find technically skilled officers, skilled workers, and finance and accountancy managers in Vietnam.

He also noted that Vietnam now applies very strict regulations on the employment of foreign workers, so he hopes that the AEC will help him find workers from ASEAN countries.

Foreign invested enterprises also face a similar situation. A survey of 200 tourism businesses on their requirements for workers, which was conducted recently in the central region, showed that most business owners were not satisfied with the qualification of new graduates.

Therefore, an analyst warned, once AEC forms, which will create a single labor market in ASEAN, workers will flock to Vietnam from 10 ASEAN countries and compete with Vietnamese workers.

Meanwhile, a senior official of the Ministry of Labor, War Invalids and Social Affairs (MOLISA) has reassured the public that the situation will not be serious once the AEC begins.

He said not all foreign investors’ wishes can be satisfied because only some positions, such as engineers, accountants, architects, doctors, dentists, nurses and midwives, geodesist (mathematicians who deal with the shape of the earth), or occupations related to tourism, will be able to move freely within AEC.

Nguyen Thi Van Anh, managing director of Navigos Search, a human resource service firm, noted that of these eight occupation groups, conventional accountants and production engineers can be found in Vietnam. However, highly qualified engineers, especially information technology engineers, are seriously lacking.

Anh predicted that many foreign investors would come to Vietnam to invest in the service and healthcare sectors, which are believed to have great potential in Vietnam. If this happens, the number of workers in the sectors will increase rapidly.




Over 500 individuals implicated in vehicle registration irregularities

Charges have been filed against 506 suspects for their alleged involvement in irregularities at multiple auto registration and inspection centers in the country, the Ministry of Public Security (MPS) said at a Government press conference.

Most of Vietnam’s outbound investments flow into Singapore in Q1

Vietnamese investors have injected nearly US$120 million into their projects overseas in the year to date, a sharp drop against the year-ago period, according to the Foreign Investment Agency under the Ministry of Planning and Investment.

Millions of mobile phone numbers in Vietnam to be locked soon

After March 31, the owners of nearly two million mobile phone numbers cannot make calls or send text messages as their user data stored by telecom providers does not match the national population database.

Global minimum tax rate to impact FDI firms in Vietnam

At least 1,015 foreign direct investment (FDI) enterprises will be affected by the global minimum corporate tax when this policy comes into force early next year.


VN central bank to cut refinance rate in next quarter: UOB

Feature film shot in Vietnam to be released on Netflix

Beautiful scenes of Vietnam and its people can be seen in the first official trailer of the movie "Tourist's Guide to Love".

Vietnamese badminton stars leap up world rankings

Several of the nation’s top badminton players have made significant jumps in the world rankings, according to the latest information given by the Badminton World Federation (BWF).

Paintings by local contemporary artists exhibited in UK

An exhibition displaying artworks from leading contemporary Vietnamese artists opened on May 29 at D-Contemporary gallery in Mayfair, one of London's premier shopping and entertainment centres.

Da Nang’s boat race attracts locals, tourists

Thousands of people and tourists stood on both sides of the Han River to cheer for teams participating in Da Nang’s boat race 2023, which took place on the morning of March 29.

VN central bank calls for prioritising loans for rice industry

The State Bank of Vietnam (SBV) has instructed credit institutions in the Mekong Delta region to promote lending to rice producers and traders to help them have sufficient capital, especially in the winter-spring harvest in 2023.

Around 60,000 firms close in first quarter

Roughly 60,000 Vietnamese enterprises closed their doors in the first three months of this year, representing an on-year increase of 17.4 percent.

Green offices remain key theme in HCM City commercial real estate

A flight to quality will remain a key theme in the HCM City office market in 2023 as both foreign and domestic companies are setting ambitious net-zero targets to comply with environmental, social and corporate governance (ESG) regulations.

Vietnam expected to export 7 million tonnes of rice this year: Ministry

Vietnam is expected to ship about 6.5-7 million tonnes of rice abroad this year thanks to the return of markets like Indonesia, Bangladesh, and China, according to the Ministry of Industry and Trade (MoIT).

Action plan approved to implement foreign investment cooperation strategy

Deputy Prime Minister Tran Luu Quang has freshly signed a decision to approve an action plan for implementing the 2021-2030 national foreign investment cooperation strategy.

Vietnam runs trade surplus of 4.07 bln USD in Q1

Vietnam ran a trade surplus of 4.07 billion USD in the first quarter this year, with 79.17 billion USD in export revenue and 75.1 billion USD in imports, down 11.9% and 14.7% annually, respectively, reported the General Statistics Office on March 29.