Garment workers at a factory in Binh Duong Province. Photo for illustration only. — VNA/VNS Photo Nguyen Van Viet Eight hours a day, five days a week, 35-year-old Nguyen Thi Hoa (*) painstakingly looks for tiny defects in thousands of apparel products at a dusty garment factory in Lai Vu Industrial Zone, the northern province of Hai Duong. She earns VND4.9 million (US$210) a month. There is no better alternative for Hoa the moment. She left her job at an electronics assembly factory to work here for a better schedule, but her salary was the same. “It is impossible to live a proper life with that amount of money,” said Hoa. Leaving her husband behind in the central province of Thanh Hoa, she moved to the emerging industrial hub in Hai Duong with a clear goal, “earning enough money to start a business.” This target now seems out of reach, as she can hardly cover her living expenses. Nearly three million garment workers in Viet Nam, mostly women, are in … [Read more...] about Textiles workers struggle to get by
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Textiles workers struggle to get by on just $50 a week
Viet Nam News By Khoa Thư HÀ NỘI – Eight hours a day, five days a week, 35-year-old Nguyễn Thị Hoa (*) painstakingly looks for tiny defects in thousands of apparel products at a dusty garment factory in Lai Vu Industrial Zone, the northern province of Hải Dương. She earns VNĐ4.9 million (US$210) a month. There is no better alternative for Hoa the moment. She left her job at an electronics assembly factory to work here for a better schedule, but her salary was the same. “It is impossible to live a proper life with that amount of money,” said Hoa. Leaving her husband behind in the central province of Thanh Hóa, she moved to the emerging industrial hub in Hải Dương with a clear goal, “earning enough money to start a business.” This target now seems out of reach, as she can hardly cover her living expenses. Nearly three million garment workers in Việt Nam, mostly women, are in … [Read more...] about Textiles workers struggle to get by on just $50 a week
BUSINESS NEWS IN BRIEF 3/8
JLL reports on real estate M&A in first half Vietnam’s real estate market continued to exhibit irresistible appeal among foreign investors in the first half of 2018 and continued to witness high-value merger and acquisition (M&A) transactions in a variety of sectors such as residential, commercial, and industrial, according to Ms. Khanh Nguyen, Associate Director, Capital Markets, Vietnam, at JLL. Joint ventures have become popular among foreign developers who have strong financial capacity and track record, with them joining forces with local developers who own land and have strong connections with the local community. Foreign investors are from many different countries, such as Japan, South Korea, and Singapore, and with an increasing number of groups from Mainland China. JLL observes that there is an increasing number of local investors who are actively seeking real estate deals alongside foreign investors. 2018 started off with the acquisition of Sun Wah office tower … [Read more...] about BUSINESS NEWS IN BRIEF 3/8
Chubb Life receives 2 awards from Insurance Asia
Khanh Bui, vice president, chief actuary, Chubb Life Vietnam receives the award. — VNS Photo Chubb Life Insurance Vietnam Company Ltd has been conferred the “International Life Insurer of the Year” and the “New Insurance Product of the Year” awards for the Vietnamese market by Insurance Asia, a Singapore-based finance and insurance publication. This is the first year the awards are covering the Việt Nam market. Insurance Asia awards honour Asian insurance companies with the most innovative products, services, projects, and strategies in each market. The judges choosing the winners are drawn from prestigious organisations and corporations such as KPMG, Deloitte, Ernst & Young, and Milliman. Chubb has 83 offices nation-wide, employs more than 30,000 agents and serves nearly 400,000 customers. Lam Hai Tuan, chairman and country president of Chubb Life, said: “These prestigious awards recognise the efforts of all company members. All of us … [Read more...] about Chubb Life receives 2 awards from Insurance Asia
Retirement age increase necessary for Vietnam: ILO specialist
ILO senior specialist on social security Nuno Cunha (Photo nguoiduatin.vn) Hanoi (VNS/VNA) - Nuno Cunha, ILO senior specialist on social security, has stressed the need for Vietnam to increase retirement age in an interview granted to Vietnam media regarding a recent proposal to increase the retirement age of Vietnamese labourers. The following is the interview. Q: Is it possible to keep the current retirement age by increasing the performance of the social insurance funds investment? A: The performance of the social insurance funds can indeed play a long-term role in the sustainability of the fund, but the pace of demographic change with such a fast growing elderly population creates challenges that can only be solved by changing system parameters. One of those changes is the retirement age. Increasing the retirement age is a trend seen in several countries in the region, and when compared with other countries with the same life expectancy the age of retirement in … [Read more...] about Retirement age increase necessary for Vietnam: ILO specialist