Thousands of workers at the Vissan Joint Stock Company in HCM City will receive an additional month’s salary and an additional bonus as a reward for business performance to celebrate Tết (Lunar New Year). — Photo nld.com.vnViet Nam News HCM CITY — Trade unions in HCM City are offering their labourers Tết bonuses, gifts, year-end parties and tickets for buses and trains for the upcoming Lunar New Year (Tết) holiday. At the Saigon 3 Garment Joint Stock Company, workers are busy this season but they are happy about working there. In October the company announced that employees would receive a Tết bonus equal to three months of salary. Phạm Văn Có, chairman of the Saigon 3 Garment Joint Stock Company’s trade union, said the company’s board of directors and trade union were determined to please their workers during Tết. “Their hard work throughout the year contributed to our business performance, so they … [Read more...] about City trade unions ensure happy Tết for labourers
Labour market information
The upgrade is likely to widen Vietnam’s access to large funds allocated according to the FTSE Emerging Index, including Vanguard FTSE Emerging Market ETF. FTSE benchmark. Source: FTSE, KB Securities Vietnam. Vietnam is has good chance of winning the second emerging market status in the next review in September 2020 by FTSE Russell, a leading global provider of financial services, according to KB Securities. Vietnam is currently in the Frontier market group, and was added to the FTSE Russell’s watchlist for posible upgrade to Secondary Emerging Market in September 2018. However, after one year of review, Vietnam only met seven out of nine criteria of FTSE. The criterion of “Settlement – rare incidence of failed trades” was not evaluated. The brokerage believed that this is not a big issue, simply due to the low supply of information from the State Securities Commission (SSC), while the “clearing & settlement … [Read more...] about Vietnam highly likely to be upgraded to second emerging market next September
Stock Market MSN, bank stocks drive market up The Saigon Times Daily Thursday, Dec 12, 2019,17:56 (GMT+7) MSN, bank stocks drive market upThe Saigon Times Daily Employees of HCMC Securities Corporation watch stock information. Consumer goods firm MSN and large bank stocks contributed to sending the VN-Index rising today, December 12 - PHOTO: THANH HOA HCMC - The strong recovery of consumer goods stock MSN and the sharp rise of large bank stocks helped the VN-Index close near the 970-point level today, December 12. With 202 gainers and 127 losers, the benchmark index on the Hochiminh Stock Exchange added 6.39 points, or 0.66%, at 968.17. Trading volume on the southern bourse inched up by one million shares against the day earlier to 218.74 million shares, but trading value slid 5% at nearly VND4.2 trillion. There were 64.1 million shares worth nearly VND1.4 trillion traded in block deals. MSN soared 5% at VND58,500, … [Read more...] about MSN, bank stocks drive market up
A hydropower plant managed by Hoang Anh Gia Lai Group. — Photo baodautu.vn Multi-sector company Hoang Anh Gia Lai (HAGL) is selling its ownership at a hydropower unit as it continues the path to become a pure agriculture business. HAGL will sell 248.5 million shares or a 99.4 per cent stake in HAGL Hydropower Co. The company wants to exit the sectors that have remained unprofitable and strengthen its agricultural activities, the firm said in a statement. But HAGL gave no information about the buyer. After completing the deal, HAGL will officially remove hydropower from its business portfolio. In recent years, the group has offloaded a lot of its assets to restructure loans. In 2017, HAGL sold its sugar unit to Thanh Thanh Cong Group for VND1.33 trillion (US$57.7 million). In 2018, HAGL signed a strategic deal worth VND22 trillion with Truong Hai Auto Corporation (Thaco), allowing the auto manufacturer to acquire its cattle farming and real estate subsidiaries. In 2019, Thaco … [Read more...] about HAGL decides to sell hydropower unit
Doan Mau Diep, Deputy Minister of Labour, Invalids and Social Affairs, speaks to the Tiền Phong (Vanguard) newspaper about how Vietnam will revise the retirement age for workers or State employees. Retirement age increase necessary for Vietnam: ILO specialist Retirement age adjustment needs to be flexible: expert Doan Mau Diep. — Photo tienphong.vn How do you respond to a proposal that Vietnam would raise the retirement age for its workers while many people in the working age still can’t find jobs? It is a real fact that in any labour market, job positions are always bigger than the actual number of working people. Yet, in all countries, many people are still unemployed. Japan is a good example. According to a national survey, there is only one candidate for four working positions while the unemployment rate in Japan currently stands at 2.4 per cent. In the real labour market, the mismatch between supply and demand happens in all countries, and … [Read more...] about Why we have to increase the retirement age?