The assistance will support Vietnam’s efforts to achieve net-zero greenhouse gas emissions, and expand high-tech manufacturing industries.
While provinces, especially in southern Vietnam, are facing a shortage of human resources, other areas such as the north-central region can benefit from the wave of people relocating back to their hometowns.
Helping ease logistics constraints, continued testing and vaccination and encouraging labor mobility should be priorities, according to World Bank’s recommendations.
Vietnam’s economic growth is expected to slow down due to a resurgence of Covid-19 that has tightened the labor market, lowered industrial output, and disrupted agricultural value chains, according to latest report released by the Asian Development Bank (ADB).
Brand pork industries in Japan and the Philippines, which has only one and a few native pig resources respectively, are already developed and established. Whereas in Vietnam, there is still a rich diversity of resources to be exploited.
Thai billionaire Charoen Sirivadhanabhakdi, founder of Singapore-listed Thai Beverage, has expressed his keen interest to invest in a wide range of industries beyond beverage in Vietnam.
First Alliances Hanoi branch director Nguyen Thac Thang talks about the shortage of senior managers in hospitality and real estate industries.
Aging population, one of the four specific megatrends impacting on Vietnam, has many negative implications for Vietnam’s labor supply, long-term productivity growth, pension and social assistance system, according to country director of the World Bank Group in Vietnam Ousmane Dione.
The linkages between domestic and foreign direct investment (FDI) business have not been as good as expected, even weaker than Laos and Cambodia, resulting in a low development of supporting industries and technology transfer.
Several FDI enterprises are still not seriously committed to the terms in the labour contracts, violating the rights of workers, which leads to massive labor disputes or collective work stoppage.
The economic structure has not been shifted and investment resources are being shifted mostly into the old and low value-added sectors, which are reflecting a distortion in Vietnam's labor productivity, according to Nguyen Duc Thanh, Vietnam Institute for Economic and Policy Research's president.
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Joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Vietnam will not only commit to open the market, remove tariff barrier, promote trade liberalization and facilitation but also promote the publicity and transparency of state management in market development.
According to Takimoto Koji, chief representative of JETRO HCMC Branch, Japanese businesses have exposed their problems about labor cost, incomplete legal system, unclear law enforcement, complex taxation and undeveloped supply of raw materials to the Vietnamese government and are still awaiting responses.
According to Prof. Tran Van Tho, a member of the Prime Minister's Economic Advisory Group, over the past ten years, state-owned enterprises (SOEs) have wasted too much, which made the average labor productivity lower.
