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Technology investment: good way to increase productivity, reduce labor cost

Increasing productivity must be considered an important basis for calculating wage increases for workers, not just based on the CPI.

Despite great economic achievements, Vietnam’s labor value still low

VietNamNet Bridge - The average wage for Vietnamese workers is $1 per hour, far below the pay to Filipino workers ($2.1) and Chinese ($2.5).

What is the cost to retain workers?

VietNamNet Bridge - The average pay from Vietnamese companies is 29 percent lower than multinationals. 

4.0 industrial revolution to bring major changes to labor market

Vietnam’s cheap labor force will no longer be an advantage in attracting investment as the cost for applying advanced technologies is getting lower. Thus, a large number of Vietnamese workers will be thrown off production lines.

As wages increase, Vietnamese product competitiveness may weaken

Real wages in Vietnam have increased by 8 percent per annum, higher than the GDP growth rate, while regional minimum wages have increased by 12.2 percent per annum, higher than the labor productivity increase.

Vietnam urged to prepare well to become “world’s factory”

VietNamNet Bridge - Will it be a good or bad thing if Vietnam, as a part of South East Asia, becomes a new factory for the world and displace China?

Will the Vietnamese automobile market fall into Thai hands?

VietNamNet Bridge - The lucrative Vietnamese $12 billion per annum automobile market could help rescue the Thai automobile industry, which is now facing difficulties.

Vietnam’s labor advantage reaches “critical point”

 VietNamNet Bridge – Vietnam has taken advantage of a cheap labor force as “bait” to attract investment, but that advantage will not exist in the future, economists say.

Foreign experts favor Vietnam labor market: survey

Vietnam is one of the most attractive destinations for foreign workers because of the high post-tax income and low expenses for accommodations and meals.

VN labor market: Unemployment rate lowest, labor cost cheapest

 VietNamNet Bridge – Vietnam is among the nations with the lowest unemployment rates on the globe, but the number of young jobless laborers is triple the domestic unemployment rate.

Social Headlines December 25

 Human traffickers jailed for 80 years; Man killed in road accident; Hanoi acts to ensure traffic safety; Border crackdown targets illegal birds; Treatments empower HIV-positive mothers

Samsung moves its factories from China to Vietnam

Samsung’s smartphone empire was built thanks to the abundant and cheap labor resources in China. However, when costs here are skyrocketing, Samsung is gradually shifting its production bases to Vietnam to preserve profits.