Photo: VNA India will again see the highest real salary increase in Asia, predicted to be 5.4%, followed by Vietnam, Indonesia, Cambodia, and Thailand. In China, the real salary increase is expected to be 3.6% in 2020. The average increase in Asia-Pacific is forecast to be 3.2%, higher than the global rate of 1.4% and the European rate of 1.1%. According to Lee Quane, Regional Director for Asia at ECA International, workers in Vietnam and Thailand will see further real increases to their salaries, as the nominal salaries expected to be given by employers stay well ahead of the low levels of inflation that these countries will see in 2020. … [Read more...] about Vietnam leads Southeast Asia in salary growth: ECA
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Vietnam’s cosmetics market is worth $2.3 billion, but domestic companies pocket only 10 percent of the value. Analysts say Vietnam’s cosmetics market is relatively small compared with other markets. However, it has been growing very rapidly and is worth investing in. Vietnam is relatively small compared with other markets International experts predict that the middle-class population in Vietnam will reach 33 million by 2020. Mintel, a market analysis firm, estimated that Vietnam’s cosmetics market has the value of $2.3 billion this year. The domestic market is controlled by foreign names with 90 percent of market share. South Korea is the leading cosmetics supplier in Asia, including Vietnam. The country’s success in exporting cultural value is behind its success in the cosmetics industry, especially after South Korea signed an FTA with Vietnam in 2015. A report from the HCMC Cosmetics Association showed that 30 percent of revenue from cosmetics in … [Read more...] about How big is Vietnam’s cosmetics market?
A dancing performance of Vietnamese artists (Photo: VNA) Hai Phong (VNA) – The ASEAN Music Festival 2019 will take place in Hai Phong city from May 25 to 31, aiming to enhance cultural cooperation among regional nations. The event will gather about 160 artists from seven ASEAN countries, namely Cambodia, Laos, Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Host Vietnam will send some 100 artists from art troupes nationwide to the festival. Aside from the official stage at the Hai Phong Opera House, festival-goers can also enjoy outdoor performances in Le Chan, Do Son and Cat Hai districts during the event. This year’s festival is organised by the Ministry of Culture, Sports and Tourism, the Vietnam Musicians’ Association, and the Culture and Sports Department of Hai Phong city.-VNA VNA … [Read more...] about ASEAN Music Festival to be held in Hai Phong
Prime Minister Nguyen Xuan Phuc (right) was handed the symbolic gavel from Thailand’s counterpart Prayut Chan-o-cha in Bangkok As the 35th ASEAN Summit and related events in Bangkok wrapped up last week, Prime Minister Nguyen Xuan Phuc received the symbolic gavel from Thai counterpart Prayut Chan-o-cha in a handover ceremony, symbolising that Vietnam will assume the rotating chair of the ASEAN for 2020. Previously, the country held the responsibility in 1998 and 2010. The chairmanship will formally begin on January 1 next year. During the one-year tenure, Vietnam will be tasked with outlining orientations for the regional bloc to enhance connectivity, cohesiveness, and overcome challenges. PM Phuc stated, “Along with achievements created by the ASEAN Community over past years, positive results of the ASEAN in 2019 under the theme of “Advancing Partnership for Sustainability” will lay a favourable foundation for Vietnam to take over the ASEAN chairmanship for … [Read more...] about Vietnam all set for crucial ASEAN role
Deputy Minister of Defence Sen. Lieut. Gen. Be Xuan Truong (Photo: VNA) Hanoi (VNA) – A high-ranking delegation from the Ministry of Defence, headed by Deputy Minister Sen. Lieut. Gen. Be Xuan Truong, has been on a working trip to Belarus and Russia from May 16 to 21. As part of the trip, the delegation held separate talks with leaders of the State Authority for Military Industry of Belarus and the Federal Service for Military-Technical Cooperation of Russia. At these functions, officers discussed past technical collaboration of the sides involved and sought agreements on orientations for joint works in the coming time. The delegation attended the 9th International Exhibition of Arms Military Machinery in Minsk, Belarus, and visited a number of defence industrial establishments in Kazan, Russia. The trip was meant to contribute to intensifying the countries’ defence ties to match with their sound bilateral relations.-VNA VNA … [Read more...] about Defence Ministry delegation visits Belarus, Russia