HSBC’s 11th annual Expat Explorer survey reveals that expats in Vietnam annually earn $90,408 on average, with 31 per cent seeing an income rise of 25 per cent and above. Vietnam, accordingly, ranks in the first place in the world with nearly three quarters (72 per cent) saying moving to Vietnam helped them save more, while 72 per cent also agree that they have more disposable income than they did in their home country. Both proportions are higher than the global average (52 per cent for savings and 56 per cent for disposable income). The survey was conducted in the form of an online questionnaire, with the participation of 22,318 expats from 163 countries and territories. The most popular purpose of their saving or investment is still retirement (43 per cent), followed by buying the first/next property (30 per cent). Nevertheless, when it comes to property ownership, one-fourth (26 per cent) of expats own property in Vietnam, while the global average is 36 per cent. Expats … [Read more...] about Expats vote Vietnam among best countries to live and work
Best place to invest in property
Ho Chi Minh City has gained roughly US$1.3 billion in foreign direct investment (FDI) since the start of the year, according to the Department of Planning and Investment (DPI). With several major projects waiting in the wings, the final tally for 2007 should exceed that in 2000. The department's director, Mr. Thai Van Re, reckons the 2007 total is bound to pass the US$2-billion mark as there are 282 FDI projects waiting for approval. Half of the newcomers are in the service sector and half in property development. Korean companies are responsible for the biggest portion with 89 projects worth US$55 million, or 47 per cent of the city's fresh FDI. Singapore comes next with 24 projects worth US$190 million, followed by Taiwan with 17 projects worth US$25 million. Among the many waiting for a license are Viet Nam-Korea Development Ltd. with investment capital of US$79 million, Yonvoo-Van Phuc Ltd. with US$300 million, GS Co. with US$348 million, and BDC-WCT Ltd. In all, … [Read more...] about Fresh FDI Set to Exceed $2 Billion in Ho Chi Minh City
Students practice assembling electronic circuits at the Ho Chi Minh City University of Technology The labor market is expected to see a rebound this year, especially with a huge increase in investment from Japan and South Korea. IT, marketing, and customer service continue to lead the demand for labor, Jonah Levey, founder and CEO of job company VietnamWorks tells Vietweek. What is your expectation for the labor market in 2014? Jonah Levey: 2013 witnessed an amazing recovery in the labor market. Q1 saw no change in labor demand, but from Q2 on, demand kept rising at a steady pace of more than 10 percent each quarter compared to the same period of 2012. Overall, labor demand in 2013 increased 9 percent compared to the previous year. This upward trend is expected to continue into 2014, especially with a large amount of investment coming from Japan and South Korea. Major cities like Hanoi and Ho Chi Minh City will be the hubs of job supply due to their strategic positions as … [Read more...] about Labor market to rebound in 2014
Danang has been designated by the central government to be the core city of the Key Economic Zone in central Vietnam, the entrance to the UNESCO World Heritage sites, and the terminal point of the East-West Corridor linking with Laos, Thailand and Myanmar. It is clear that Danang's location makes it a strategic location from which your business can access potentially rich Vietnamese and other Asian markets. I. STRATEGIC LOCATION The coastal city of Danang is situated at the very heart of Vietnam, 759km from Hanoi and 960km from Ho Chi Minh City. It lies on the north-south communications axis of land ( National Road 1A), rail, sea and air routes. Danang borders Thua Thien - HueProvince in the north, QuangNamProvince in the south and the west, and the EasternSea in the east. It is located in a typical tropical area influenced by monsoons with an annual average temperature of 25.7C. The city has a natural land area of 1,256km2 and a population of 887,069 as of 01 April 2009. … [Read more...] about Why invest in Danang?
OCB and HPU come together The Orient Commercial Joint Stock Bank (OCB) signed a comprehensive cooperation agreement with its 13th university partner, the Haiphong Private University (HPU), on September 23. The agreement marks a step forward in the relationship between the two. OCB will provide a tuition fee collection system for the university and other preferential banking services such as free current account or education account opening, while HPU will work with OCB in promoting the bank's brand and in other activities. OCB granted scholarships to HPU students to mark the signing and committed to work with it in several programs relating to job consultancy and internships. "OCB appreciates this relationship with HPU, which is the first university in the north we have signed a comprehensive cooperation agreement with," said Mr. Truong Dinh Long, Deputy CEO of OCB. "The relationship will support the university and its students in financial solutions." With much experience from working … [Read more...] about BUSINESS IN BRIEF 27/9