Vietnam spent some US$375 million on importing nearly 18,000 completely built-up (CBU) cars of all kinds in August, up 25.3% in volume and 25.2% in value compared to the same period last year, reported the GSO.

The initial eight months of the year saw the country purchase 96,026 CBU cars worth US$2.245 billion, equivalent to 91% in volume and 95.8% in value compared to figures recorded in 2021.

Meanwhile, roughly 34,100 domestically manufactured and assembled cars were added to the market throughout August, down 1,000 units compared to July 2022 but up 65.9% over last year’s corresponding period.

The August figure brought the total number of domestically manufactured and assembled cars during the first eight months of the year to 293,800 units, up 13.9%.

Vietnamese, Japanese businesses cooperate in biomass

Japan’s Electric Power Development Co (J-Power) has inked a memorandum of understanding (MoU) with Vietnam Forestry Corporation (Vinafor) to jointly explore opportunities for biomass business in the Southeast Asian country.

Under the MoU, the companies will study the potential collaboration in areas such as power generation and fuel production, J-Power said in a press release.

J-Power has experience in the biomass sector, both in and outside Japan.

Meanwhile, state-owned Vinafor with its 43,000 hectares of forests brings to the partnership its expertise in managing, harvesting and processing plantation wood in Vietnam.

BIDV partners with Surecomp to streamline trade finance
     
BIDV has gone live with its DOKA™ and allNETT™ solutions to digitise trade finance processing. 

Supported by local partner CMC Technology and Solution (CMC TS) in Viet Nam, Surecomp was selected by BIDV to deliver its next-generation trade finance platform as part of a broader digital transformation strategy.

Trade finance and bank guarantees are one of the bank’s most important service offerings, and the implementation will now enable BIDV to meet current and future demands.

Hosted on their own servers in Ha Noi, the solutions were deployed and supported by Surecomp’s local teams in Asia and Europe. Through improved efficiency and faster response times, the newly digitised operation will help BIDV maintain a competitive edge and deliver enhanced customer service.

This, in turn, will allow customers to manage their import and export activities better. Taking a pioneering approach to digital innovation, the flexibility of the solutions will also enable the bank to amend and customise their trade finance instruments as their requirements evolve.

First China Homelife Vietnam exhibition opens in HCM City
     
Over 170 China-based suppliers and manufacturers of homeware products are showcasing their latest products at the first China Homelife Vietnam exhibition that opened in HCM City on August 29.

Products on display at over 200 booths cover four main categories: household appliances, consumer electronics, textiles and garments, and building materials-interior.

The exhibition is being held in a hybrid format. Chinese exhibitors still showcase their latest products onsite for customers to experience and feel the new trends, and at the same time, online meetings are conveniently organised at booths to support the effective communication and business negotiation between Chinese exhibitors and local buyers.

Dat Bike launches fastest electric bike charging station
     
To elevate users’ experience and enhance utilities for electric vehicles, Dat Bike has launched Dat Charge - an ultra-fast charging station for Dat Bike electric bikes located at the Saigon Innovation Hub (SiHUB), 273 Dien Bien Phu, District 3, HCM City.

The Dat Charge charging station is equipped with two charging ports of different capacities, with a maximum current of 80A and 40A respectively.

The 80A charging port, compatible with the Weaver 200 series with an upgraded charging port, has a capacity of 10kW, allowing it to charge for a 100km trip in 20 minutes and 150km in 30 minutes. This is the highest electric bike charging speed in the country at present.

The 40A charging port allows for 150km on a single charge, equivalent to 75 per cent of the battery capacity, in 75 minutes.

Users of the standard Weaver 200 can use a 40A power adapter for this charging port.

Shrimp exports to US, China endures double-digit decrease in July

Vietnamese shrimp exports to the United States and China in July fell by 54% and 17%, respectively, against the same period last year, according to data given by the Vietnam Association of Seafood Exporters and Producers (VASEP).

VASEP experts have assessed that despite shrimp exports recording double-digit growth in the opening five months of the year, exports of the aquatic product began to endure a slight decline in June before falling sharply in July.

However, shrimp exports during the seven-month period surged by 22% to US$2.65 billion against the same period from last year.

Most notably, Vietnamese shrimp exports to the US market started to slow down in May, decreasing by 36% in June and continuing to drop by 54% in July.

During the reviewed period, shrimp exports to the US declined by 6% to US$550 million compared to last year’s corresponding period.

This decline in US’ shrimp imports can largely be attributed to high inventories, escalating logistics and transportation costs, along with a general shortage of cold storage facilities and high inflation hitting US consumers.

In China, after recording robust growth over the first six months of the year, Vietnamese shrimp exports to the northern neighbour in July dropped by 17% to US$38 million. However, shrimp exports to the market during the reviewed period surged by 64% to US$371 million.

Despite the Chinese economy reopening and moving to loosen regulations related to COVID-19 prevention at seaports, Chinese import regulations remain strict, thereby creating many difficulties for businesses.

Furthermore, Vietnamese shrimp suppliers in the Chinese market must compete against suppliers from Ecuador, which has devised a strategy specifically aimed at boosting exports to China in order to compensate for the decline in exports to the US.

In contrast, exports to markets such as Japan, the EU, and the Republic of Korea were able to maintain positive growth momentum.

Accordingly, shrimp exports to the EU market in July inched up by 16% over the same period from last year thanks to the range of incentives set out in the EU-Vietnam Free Trade Agreement (EVFTA).

Moreover, exports to Japan and the Republic of Korea in July continued to grow steadily by 5% and 22%, respectively due to low train fares and inflation, both of which are considered crucial factors in helping to maintain a stable growth momentum in shrimp exports to these markets.

ACCA and VACPA renew cooperation

The Vietnam Association of Certified Public Accountants (VACPA) and the Association of Chartered Certified Accountants (ACCA) have extended their MoU, closely and effectively coordinating through training activities and improving knowledge for members for the next five years (2022-2027), thus contributing to the development of accounting and auditing professions in Vietnam.

The ACCA and the VACPA signed an initial MoU in 2005, renewable every five years. Since then, they have rolled out coordinated activities with the common goal to contribute to the development of the accounting, auditing, and finance industry in Vietnam, raising public awareness of the value and role of the accounting and auditing profession.

The ACCA and the VACPA also cooperated with educational and training institutions across Vietnam to support research and teaching activities.

Accordingly, both parties will join hands to enhance association structure, operations, and membership activities with new measures to improve the management of professionals in the accounting and auditing industry, as well as membership management for both associations.

Japan to increase financial assistance for Vietnam's energy transition

An agreement on energy transition inked in Tokyo underlines Japan's support for Vietnam's energy transformation programmes.

At the fifth meeting of the Vietnam-Japan Joint Committee on Industry, Trade, and Energy Cooperation on August 24, Minister Yasutoshi Nishimura stated that Japan will provide financial and technical support for Vietnam's energy transformation efforts through the Asia Energy Transformation Initiative (AETI).

In Tokyo, Japan's Ministry of Economy, Trade and Industry (METI) and the Vietnamese Ministry of Industry and Trade inked an MoU on cooperation in the energy transition in order to concretise Vietnam's carbon neutralisation strategy and assert Japan's assistance activities within the scope of the AETI for Vietnam's energy transformation.

For the first time, Yasutoshi, who was appointed by the Japanese government to the role of METI Minister following the August 10 reshuffle, presided over the Vietnam-Japan Joint Committee meeting.

The concepts Asia-Japan Invests in Future Initiatives and the AETI convey Japan's incentive to spend in the region's future, aimed at letting Asia become a global growth hub.

Appointed in October of last year, Japanese Prime Minister Fumio Kishida has pledged to enhance collaboration with ASEAN in all areas. During his time as foreign minister under the leadership of Prime Minister Shinzo Abe, Kishida was also a staunch advocate for ASEAN's major position.

According to the Ministry of Planning and Investment, Japan invested over $64 billion in 4,835 projects in Vietnam since 1988. Japan placed third amongst Vietnam's investment partners in 2021, reporting approximately $3.9 billion of registered investment capital, an increase of 64.6 per cent from the previous year.

Standard Chartered expects Vietnam’s recovery to stay strong in August

In its latest Global Research report on Vietnam, Standard Chartered Bank anticipates Vietnam’s economy to see a continued recovery in August, as the economic revival has shown signs of broadening.

The bank maintains its GDP growth forecast of 10.8 per cent year on year in Q3 and 3.9 per cent in Q4 taking 2022 growth to 6.7 per cent.

“The recovery may accelerate markedly in H2 as tourism reopens after a two-year closure. That said, rising global oil prices may have negative consequences on the economy,” said Tim Leelahaphan, economist for Thailand and Vietnam at Standard Chartered Bank.

According to the UK-based bank, retail sales growth is likely to continue to accelerate to 60.2 per cent year on year in August from 42.6 per cent in July. Export, import, and industrial production growth may have risen to 15.2 per cent, 15.0 per cent, and 15.2 per cent, respectively from 8.9 per cent, 3.4 per cent, and 11.2 per cent in July. A trade deficit of $1.4 billion is expected in August; electronics are Vietnam’s largest export category.

Standard Chartered economists see inflation at 3.0 per cent year on year in August in comparison to 3.2 per cent in July and believe it is under control for now. Price pressures may increase in H2 2022 and 2023; in addition to supply-side factors, demand-side factors might kick in more strongly.

Standard Chartered Bank expects the State Bank of Vietnam (SBV) to stay vigilant against financial instability. The SBV plans to keep this year’s credit growth target at 14 per cent, despite calls to raise it to ease cash-flow bottlenecks in the property market, according to Governor Nguyen Thi Hong.

Banks may face greater liquidity risks on excessive lending to the real-estate sector – while 94 per cent of property loans have maturities of 10-25 years, 80 per cent of banks’ deposits are short-term.

Agro-forestry-aquatic product exports rise over 13% in eight months

Import-export revenue of agro-forestry-aquatic products was estimated to reach 66.2 billion USD in the first eight months of 2022, up 8.7% year on year, of which export turnover hit about 36.3 billion USD, a year-on-year rise of 13.1%, reported the Ministry of Agriculture and Rural Development (MARD).

With the results, Vietnam's agro-forestry-fishery sector enjoyed a trade surplus of over 6.3 billion USD in the period, a surge of 94.6% over the same period last year.

In August, export earnings from these products hit nearly 4.4 billion USD, rises of 32% year on year and 0.3% month on month.

The export value of major agricultural products was estimated at over 1.8 billion USD, while that of major aquatic products was over 1.4 billion USD, aquatic products 893.8 million USD, and livestock products 41.6 million USD.

In the January-August period, seven products and product groups had export value exceeding 2 billion USD, including coffee, rubber, rice, vegetables and fruits, cashew nuts, shrimp, and wooden furniture.

Upturn was seen in the export of many products such as coffee (40.3%), rubber (8.1%), rice (8.1%), peppercorn (8.2%), cassava and cassava products (22.5%), tra fish (82.6%), shrimp (22%), and furniture (6.5%).

However, downturn was also recorded in some products, including vegetables and fruits (13.9%), cashew nuts (nearly 10.4%), and livestock products (12.3%).

In the first eight months of this year, Asia remained the major market for Vietnamese agro-forestry-aquatic products, accounting for 43.1% of the total export volume, while America ranked second with 28.9%, Europe 11.8%, Oceania 1.7%, and Africa 1.6%.

The US continued to be the largest export market of Vietnam in the period with revenue of nearly 9.6 billion USD, followed by China with about 6.5 billion USD, and Japan with over 2.7 billion USD.

Vietnam’s tourism continues impressive growth momentum in August

Vietnam’s tourism continued its impressive growth momentum in August, since its full reopening on March 15, according to a report released by the General Statistics Office on August 29.

Vietnam welcomed 486,400 international visitors in August, an increase of 38% compared to the previous month and up 52.3 times over the same period last year.

The number of international arrivals reached 1,441 in the first eight months of this year, up 13.7 times over the same period last year.

In particular, arrivals by air reached over 1,270, accounting for 88.2% of international visitors to Vietnam; by road, the number was 170,000; and by sea reached 387.

According to the Travel Confidence Index published by the world's leading online travel company Booking.com, Vietnam ranked second in terms of travel confidence, with 85% of Vietnamese tourists planning to travel in the next 12 months.

Revenue from accommodation and catering services was estimated at 377.8 trillion VND in the first eight months, a year-on-year increase of 48.1%. Meanwhile, total revenue from travel services was about 15.4 trillion, up 3.4 times over the same period last year.

Since tourism activities were fully reopened, Vietnam's tourism has continuously witnessed a positive growth momentum, especially during the summer months, thanks to the high travel demand following two years impacted by the pandemic.

According to the Travel Confidence Index published by the world's leading online travel company Booking.com, Vietnam ranked second in terms of travel confidence, with 85% of Vietnamese tourists planning to travel in the next 12 months.

Soc Trang approves seafood development project of over US$42 million

The People's Council in the Mekong Delta Province of Soc Trang approved the project ‘Sustainable fisheries development in Soc Trang’ with a total investment of more than VND992 billion ( over US$42 million), belonging to project group B.

The Department of Agriculture and Rural Development in Soc Trang Province is the investor in the project. It is responsible for establishing a project management board for implementation. The project will be implemented in four districts and towns including Cu Lao Dung, My Xuyen, Tran De, and Vinh Chau town. The implementation period is from the second quarter of 2023 to the second quarter of 2027.

Accordingly, for the fishing sector, the project focuses on building and fully operating the national fisheries database system, and upgrading fishing wharves and ports to ensure safety and hygiene. Moreover, the project will repair shelters where boats will stay when a storm hits the province.

The shrimp farming area will be increased and the province will apply advanced technology.

Ministry proposes for export tax increase to create supply

The Ministry of Agriculture and Rural Development has proposed for increase in export tax for DAP and MAP fertilizers to ensure domestic supply.

At yesterday's seminar to find solutions to stabilize the supply and stabilize fertilizer prices before the domestic fertilizer price increased too high, affecting agricultural production and farmers' lives, Huynh Tan Dat, Deputy Director of the Plant Protection Department under the Ministry of Agriculture and Rural Development, informed that many countries have restricted the export of fertilizers in different forms to ensure supply to the domestic market.

Therefore, in its report to the Government, the Ministry of Agriculture and Rural Development has proposed to increase the export tax of fertilizers. Simultaneously, it asked the Ministry of Finance to study and consider.

The Ministry of Finance is collecting opinions on amending Decree No. 122/2016/ND-CP, which adjusts Clause 4, Article 4 in the direction of applying a level with an export tax of 5 percent; nevertheless, the export tax of the group of organic fertilizers 31.01 will ma0intain the current export tax rate of zero percent whereas the rest of all other fertilizers including those with mineral resource value plus energy costs below 51 percent will have an export tariff of 5 percent.

The Ministry of Agriculture and Rural Development supports this proposal, and at the same time, proposes to expand the taxable objects by reducing the current percentage of mineral resources plus energy costs as a basis for taxing.

Abandoned resettlement apartments -waste of government’s investment

These days, many people passing through the abandoned resettlement apartment blocks in Vinh Loc B in Ho Chi Minh City’s Binh Chanh outlying district feel it is a waste of the government’s investment resources.

The project was put into use in 2011, with nearly 2,000 apartments for resettlement in the city’s refurbishment program, including the relocation of houses along canals and renovation of old apartments in inner-city districts of Ho Chi Minh City.

Currently, in the resettlement area, apartment wall paints are peeling, and the surrounding area is overgrown with grass. The entrance to the resettlement area is still temporary, turning into a swamp when it rains. Up to now, only a few households have come to rent houses to live in, and thousands of apartments are still closed.

In Thu Duc City, the 38.4ha Binh Khanh resettlement area project belongs to the program of 12,500 apartments for resettlement of Thu Thiem New Urban Area. The People's Committee in Ho Chi Minh City requested to build the project as a typical model project, meeting all standards for a spacious and modern new residence for the people. The project has been nearly 10 years since its completion in 2015, but thousands of apartments here are still empty and uninhabited.

Responsible agencies under the Department of Construction of Ho Chi Minh City are managing 9,434 apartments and more than 2,500 vacant resettlement land lots in 163 projects. Nearly 4,800 apartments are going to be put for auction while more than 2,000 apartments are for resettlement arrangements for future projects. Every year, the city has to spend more than VND70 billion on the operation, preservation, and maintenance of resettlement houses. 

A leader of the Department of Construction said that the cost of managing and maintaining nearly 10,000 apartments is very expensive because empty apartments still have to be cleaned and managed daily. There was no revenue, so after a long time, related agencies had to cut down on maintenance expenses, causing the apartment deterioration.

Therefore, real estate experts said that city administration should have an open mechanism for short-term rental, thereby generating revenue. The mechanism is attached with a requirement that when the government wants to take back the resettlement apartments, a tenant must hand them over. Redundant apartments should be sold to those in need.

Hanoi to develop website for 2021-2030 planning process

The Hanoi Department of Information and Communications is tasked with cooperating with other agencies in setting up a website to raise public awareness about the city’s planning process.

The municipal People’s Committee made public the conclusion of its Chairman Tran Sy Thanh regarding the planning process for Hanoi in the 2021-2030 period, with a vision for 2050.

Accordingly, the city’s mayor noted progress has been made regarding the establishment of a draft framework on the vision of the planning, and also the development of a database to aid the process.

Thanh assigned the Hanoi Institute for Socio-Economic Development Studies (HISEDS) as the coordinator in drafting a detailed report on the planning framework and submitted it to the municipal People's Committee in September.

The municipal departments of Planning and Investment, Planning-Architecture, and other agencies are responsible for the setup of a task force specialized in the city’s planning and adjustment of the construction planning.

The planning for Hanoi in the 2021-2030 period, with a vision to 2050 would include the analysis and forecast based on the unique characteristics of Hanoi, the assessment of the current progress of socio-economic development, the use of land resources, a system of urban and rural structure; and the factors required for Hanoi to strengthen linkages with provinces/cities in the capital area.

Chinese customs highly value Vietnamese durian growing areas

The General Administration of Customs of China (GACC) has made good comments on durian growing areas in the Central Highlands province of Dak Lak.

The agency and Vietnam's Plant Protection Department have conducted joint online assessment of 25 durian growing areas of the Krong Pak Fruit Cooperative and Dung Thai Son Import-Export Trading JSC - one of the enterprises recognised to be eligible for durian export via the official channel by the Chinese side.

The Chinese side initially said that the durian farms have met environmental standards, according to Vo Ngoc Huy, deputy director of the cooperative.

The agency checked a total of 38 planting area codes and six packaging facilities for nearly half a month with a combined area of 1,500 hectares, but the official results are yet to be announced.

Le Anh Trung, from Thai Son Export-Import and Construction JSC, noted that as China has still pursued the “Zeo COVID” policy, GACC paid close attention to the management over pandemic prevention and control at farms, including the Integrated Pest Management (IPM), plant quarantine and the assessment of pesticide residues in agricultural products.

Vietnam’s 2021 durian output was estimated at 600,000 tonnes, up 15% year-on-year, according to the Ministry of Agriculture and Rural Development (MARD)’s Department of Crop Production.

The country now has about 50,000-60,000ha of durian growing areas for official export, mainly in Tay Ninh, Binh Duong, Dong Nai, Binh Phuoc, Tien Giang and Dak Lak provinces.

Durian will be the 11th Vietnamese fruit to enter the Chinese market via official channels, following a protocol signed by Minister of Agriculture and Rural Development Le Minh Hoan in July.

The protocol on phytosanitary requirements for Vietnamese durian exported to China is effective within three years. It will be sent to the General Administration of Customs of China and published on its portal, together with lists of eligible durian growing areas and packing facilities of Vietnam.

Vietnamese durian will be allowed to officially be exported to China after the protocol is publicised. Earlier, dragon fruit, watermelon, lychee, longan, banana, mango, jackfruit, rambutan, mangosteen and passion fruit from Vietnam were also allowed to be shipped to China via official channels.

Vietnam among top five tourist markets of Singapore

Singapore, which fully reopened in April, hosted more than 107,000 Vietnamese arrivals in the first seven months.

Talking to a reporter from the Tuoi Tre (Youth) newspaper, Keith Tan, Chief Executive Officer at the Singapore Tourism Board (STB), said the number of Vietnamese tourists to Singapore is surging and ranked fifth among the international arrivals in the country after Indonesia, India, Australia, and Malaysia.

The ranking is the highest ever achieved by Vietnam so far, he added.

Tan attributed the growth of Vietnamese visitors to the reopening of up to 90% of the air routes between the nations compared to the time before the COVID-19 pandemic. On these routes, about 128 flights are operated weekly.

The STB will coordinate with other competent agencies to minimise the compulsory procedures for entries into Singapore, he said.

Hanoi: Newly-established enterprises up 22% in eight months

Over 20,000 new enterprises were established in Hanoi in the first eight months of 2022, with a total registered capital of 226  trillion VND (over 9.64 billion USD), representing year-on-year increases of 22% and 2%, respectively. 

After the COVID-19 pandemic was brought under control, many businesses have resumed their production and business. The number of newly-established businesses increased rapidly. 

In the period, nearly 2,500 enterprises completed dissolution procedures, while 13,300 others registered to suspend operation, up 14% and 46%. 
As many as 7,800 businesses resumed their operation, up 7% compared to the same period last year. 

Hanoi: Newly-established enterprises up 22% in eight months hinh anh 2
In August alone, there were over 2,500 new enterprises established, increasing by 2.3 times over the same period last year. - Illustrative image (Photo: VNA) 

The rate of online business registration dossiers was maintained at 100%, ensuring the quality and punctuality.

In August alone, there were over 2,500 new enterprises established, increasing by 2.3 times over the same period last year, with a total registered capital of 25.3 trillion VND, up 49%.

However, 282 firms announced their dissolution and 1,173 enterprises registered to suspend operation, up 53% and 71%, respectively.  Meanwhile, 617 firms began their operation again, down 16%. 

Municipal authorities granted licenses to new 36 foreign-invested projects worth 16.4 million USD in August. Meanwhile, 1.6 million USD were added to 19 existing projects. 

Foreign investment through capital contributions and share purchases in the month reached 5.1 million USD. 

During the January – August period, Hanoi attracted 992.3 million USD in FDI, up 49.6% compared to the same period last year, including 141.3 million USD in 226 new projects, and 374.6 million USD in 122 existing projects, rising by 19.4% and 16%. Capital contributions and share purchases reached 476.4 million USD. 

Notably, travel businesses have rebounded strongly. Many tourism sites in Hanoi were forecast to be overloaded during the upcoming National Day holidays.

Binh Duong’s domestic investment surpasses FDI for first time

Domestic investment in the southern province of Binh Duong topped 62.3 trillion VND (3 billion USD) as of August 15, up 2.1% annually, surpassing the foreign direct investment (over 2.5 billion USD) for the first time, reported the provincial People’s Committee at a press conference on August 30.

Deputy Director of the provincial Department of Industry and Trade Nguyen Thanh Ha said so far this year, the province’s total retail sale of goods and services topped 177.8 trillion VND, marking an 18.7% rise year-on-year.

Its exports also hiked 7.8% annually to over 24 billion USD while imports dropped by 5.1% to 17 billion USD, contributing to a trade surplus of 7 billion USD.

At a regular meeting of the local authorities, Chairman of the provincial People’s Committee Vo Van Minh said the implementation of local socio-economic targets are meeting schedule. He asked departments and agencies to closely follow market situation and goods prices, ensuring supply-demand balance in service of production and consumption.

They were also urged to clear up difficulties faced by businesses and workers, especially those in the sectors of wooden furniture, apparel, leather and footwear.

Minh requested removing obstacles in assessing the estimate of procurement bidding packages, upholding the efficiency of pooling investment in important transport infrastructure, contributing to making the best use of domestic investment capital, particularly public investment.

HR outsourcing to grow in VN
     
Global human resource outsourcing has grown by 5-7 per cent in recent years, mainly in manufacturing, financial services, technology, retail and services, experts said.

In Viet Nam too, HR outsourcing is favoured by companies, said John Antos, vice president, strategy, global payroll and Asia Pacific at ADP, a global provider of cloud-based human capital management solutions and business process outsourcing services, analytics and compliance expertise.

In 2021 Vietnamese businesses paid US$2 billion for business process outsourcing services, he said.

With Viet Nam’s high GDP growth and large workforce of 51 million, HR outsourcing has enormous potential, he told the first Viet Nam HR Outsourcing Conference held by Talentnet in HCM City last week.

With the rise of new business models, HR outsourcing has become a choice of companies that go through organisational change, significant growth or mergers or acquisitions or have a difficult time hiring or retaining talented HR personnel, but would like to focus on their business without reducing HR quality, access digital HR benefits and minimise initial technology investment, he said.

Talking about the most important factor in deciding to use HR outsourcing, Nguyen Thi Xuan Huong, country HR director of AkzoNobel Vietnam, said companies need to have a clear answer for “Why do we need HR outsourcing services?”

According to delegates, there is no one-size-fits-all recipe for success in HR outsourcing.

They shared some factors to avoid pitfalls when businesses decide to use HR outsourcing services, including managing expectations by setting clear results in the plan, choosing credible partners that can deliver expectations and building an effective integrated system and/or data management processes to control and review service quality.

Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes