VietNamNet Bridge - If the regulation on compulsory social insurance for foreign workers in Vietnam is implemented, Vietnam would have the highest labour cost for foreign workers in the region, foreign experts warn. Foreign experts say Vietnam would have high labor costs Decree 143, which contains detailed regulations on compulsory social insurance for foreign workers in Vietnam, was issued on October 15, 2018 and took effect on December 1. Under the decree, the social insurance premiums employers and foreign employees have to pay are the same as Vietnamese citizens. Labourers have to pay 8 percent, while employers 17.5 percent of labourers’ monthly salaries. The highest premium is equal to 20 times of basic wages as stipulated by the government. By 2022, Vietnam expects to complete the signing of the agreements on double social insurance payment avoidance with other countries. RELATED NEWS Vietnamese enterprises struggle to join foreign value chains Investment … [Read more...] about Are foreign labour costs in Vietnam the highest in the region?
VietNamNet Bridge - The rich medicinal plant treasure of Vietnam is in danger. From the northern mountainous provinces to the Central Highlands, the plants are being overexploited for export to China. With its unique natural conditions, Vietnam has thousands of medicinal plants including many rare and precious ones considered ‘green gold’. Cao Bang, Lang Son, Lai Chau, Yen Bai, Lao Cai and Son La are called the ‘herbal land’. With its unique natural conditions, Vietnam has thousands of medicinal plants including many rare and precious ones considered ‘green gold’. Cao Bang, Lang Son, Lai Chau, Yen Bai, Lao Cai and Son La are called the ‘herbal land’. Nong Thi Ca, a collector of medicinal plants in Thach An district of Cao Bang province, confirmed that in the past, she could collect several tons of na day (Kadsura coccinea) and cha vang (Jasminum subtriplinerve) herbs from Tay ethnic minority, a day. But now, she only buys … [Read more...] about Vietnam’s medicinal plants: the ‘green gold’ mine in danger
VietNamNet Bridge – Poonah paper is used by Mong ethnic people on special occasions like death anniversaries, the New Year Festival and other ritual ceremonies. Age-old: Most do paper makers in Dien Bien are now elderly. Fewer and fewer local young people have taken up their ancestor’s craft. VNA/VNS Photo Van Dung To this ethnic minority, poonah (do in Vietnamese) is not a normal kind of paper but, moreover, a means of connection between the living and the dead and a way to remind children of their roots. Despite its crucial role in spiritual life, the poonah paper trade of the Mong in the northwestern province of Dien Bien is disappearing. Poonah paper is made from a variety of trees. The Mong people in Tua Chua District often made the paper from trees with green bark like bamboo. Giang Thi Dung, a resident of Na Sa Village in Ta Phin Commune, still regularly visits the forest to find suitable soft bamboo trees to prepare pulp even though she is 80 years old. … [Read more...] about Poonah paper
VietNamNet Bridge - Small enterprises with modest financial capability have spent trillions or hundreds of trillion of VND to buy shares the state divests. In late 2017, the SCIC (State Capital Investment Corporation) deal of selling 53.59 percent of shares in Sabeco stirred up the public. The buyer was Vietnam Beverage, which spent VND110 trillion, or $5 billion, to acquire 343 million shares. Small enterprises with modest financial capability have spent trillions or hundreds of trillion of dong to buy shares the state divests. On December 7, Vietnam Beverage raised its charter capital to VND681.6 billion. On the same day, it was transferred to F&B Alliance Vietnam. The biggest shareholder of F&B Alliance Vietnam holding 49 percent of shares was Beerco Ltd, a subsidiary 100 percent invested by Thai Beverage. US$1=VND22,000 RELATED NEWS Plastics manufacturers struggle to survive amid M&A boom Vietnam needs big deals to reach M&A value … [Read more...] about Small fish swallow big companies in surprising M&A deals
VietNamNet Bridge - The bad management, plus lack of a long-term development strategy, may lead to a decline in the number of foreign travelers. Travelers had to wait too long to visit Luon Cave A representative of a travel firm said in Lao Dong newspaper that western clients of the firm on November 28 had a poor experience as they had to wait too long to get into bamboo crafts to visit Luon Cave on Ha Long Bay. In general, travel firms don’t arrange excursions to the caves for travelers from Japan and South Korea at these hours because of the crowding. Meanwhile, the travelers staying overnight on the bay, mostly from Europe, the US and high-income travelers from Asia, usually meet Chinese because of their itineraries. In reply to the comment that Vietnam should not receive Chinese zero-dong travelers, the director of a Quang Ninh-based travel firm said firms like his have no choice. RELATED NEWS What can Vietnam gain as one of China’s top 10 travel … [Read more...] about Chinese tourists on ‘zero-dong’ tours raise big worries