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
Life insurance offered by employers
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
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
Refinements ongoing
Vietnam saw many important changes to its laws and regulations in 2016, including some that have an impact on the country’s business environment and the entire society. Many of these changes did not make headlines, but they are important nevertheless. This article highlights several of them, and offers some suggestions to law makers on areas for improvement in 2017. It also tries to provide some useful orientation for businesses to take into consideration in planning for 2017 and beyond. Employment and human resources Vietnam’s human resources are often identified as one of the country’s most important competitive advantages in global markets. Developing that resource in a manner consistent with international commitments is a challenge that the government has clearly recognized in several different legislative initiatives. For many foreign investors the most positive legal developments was the State Bank’s formal regulation of stock options granted to … [Read more...] about Refinements ongoing
Manulife Vietnam scores strong growth
Manulife Vietnam just released its third quarter financial statement reflecting the company's high and stable development. To the year ending September, the company saw its total premium revenue surge 22 per cent and premiums from new policies hiking 20 per cent on-year. The company's team of professional insurance agents witnessed constant growth with 3,500 new agents employed in 2012's third quarter. Careful selection and in-depth training of its agent force to bring customers professional financial advisory services is central to the company's development strategy. By the end of the third quarter 2012, the company had a network of 11,200 professional agents. Within the third quarter the life insurer launched two new universal life products named 'Manulife - My Dream,' designed for younger customers and 'Manulife - My Love' for people age 40 and above. These new products, offering customers a shorter premium period of only six years to be insured in 20 years, are … [Read more...] about Manulife Vietnam scores strong growth