The Ministry of Labor, Invalids, and Social Affairs (MoLISA) has recently issued a draft decree on regional minimum wage increase in 2020. Accordingly, wage hike will range from VND 150,000 to VND 240,000. With a rise of 5.5%, the regional monthly minimum wages of four different regions in Viet Nam will be raised in 2020; from VND 4.18 million to VND 4.42 million (up VND 240,000) for region 1, from VND 3.71 million to VND 3.92 million (up VND 210,000) for region 2, from VND 3.25 million to VND 3.43 million (up VND 180,000) for region 3, and from VND 2.92 million to VND 3.07 million (up VND 150,000) for region 4. The current minimum wages have met over 95% of the minimum living standards of workers and their families. With a hike of 5.5%, the new wages are expected to meet 100% of the minimum standards of living. Regional minimum wages have been increased for three consecutive years, with a hike of 7.3% in 2017, 6.5% in 2018 and 5.3% in 2019. … [Read more...] about Regional minimum wages to increase over US$ 10.3 next year
PM Phuc: Japan one of Vietnam’s leading economic partners
Prime Minister Nguyen Xuan Phuc (R) and Yanai Tadashi, Chairman and CEO of the Japanese group Fast Retailing. The Government and relevant agencies of Vietnam vow to offer favourable conditions and business environment for Japanese firms to run business in the country, he told his guest while praising business and investment activities of Fast Retailing in Vietnam. With its population of more than 96 million, Vietnam is seen as a potential market for Japanese apparel products. Japanese businesses’ operations in Vietnam will contribute to fostering strategic partnership between the two nations, the Vietnamese government leader said. … [Read more...] about PM Phuc: Japan one of Vietnam’s leading economic partners
Singapore exerts effort to cope with sea level rise
Stamford Detention Tank was constructed as part of the 1.8 billion SGD effort to improve Singapore's drainage system and boost its flood resilience. (Source:straitstimes.com0 Singapore (VNA) - Singapore will spend 400 million SDG (294 million USD) on upgrading and maintaining its drains in the next two years as part of its efforts to cope with sea level rise. The country will also pump 10 million SGD (7 million USD) into a programme studying sea level rise within five years to develop more robust sea level rise projections. These efforts aim to prevent the risk that the island nation could be submerged by sea water. Since 2011, Singapore has spent around 1.8 billion SGD (1.3 billion USD) on upgrading the drainage system. To respond to climate change, Singapore has launched a tree-planting programme, built plans to protect water supplies from sudden shocks, and decided to build new projects such as Changi Airport Terminal 5 at higher platform levels. According to Singaporean … [Read more...] about Singapore exerts effort to cope with sea level rise
Vietnam, Cambodia hold sixth political consultation
Vietnamese Deputy Minister of Foreign Affairs Nguyen Quoc Dung (L) and Cambodian Secretary of State at the Ministry of Foreign Affairs and International Cooperation Eat Sophea co-chair the event (Photo: VNA) Phnom Penh (VNA) – The sixth political consultation between Vietnam and Cambodia was held in Phnom Penh on July 18. The event was co-chaired by Vietnamese Deputy Minister of Foreign Affairs Nguyen Quoc Dung and Cambodian Secretary of State at the Ministry of Foreign Affairs and International Cooperation Eat Sophea. The two sides expressed their satisfaction at the growing friendly neighbourliness and comprehensive cooperation between Vietnam and Cambodia with the regular exchange of high-level delegations and meetings. The cooperation between ministries and localities as well as people-to-people exchanges have been further deepened while the bilateral economic and trade partnership has developed strongly with two-way trade reaching 4.7 billion USD in 2018. Vietnam is … [Read more...] about Vietnam, Cambodia hold sixth political consultation
Former BIDV chairman dies in custody
Trần Bắc Hà, former chairman of the State-owned Bank for Investment and Development of Việt Nam (BIDV). — Photo courtesy of BIDV HÀ NỘI — The former head of one of Việt Nam's biggest listed banks died in military custody on Thursday morning. Trần Bắc Hà, former chairman of the State-owned Bank for Investment and Development of Việt Nam (BIDV), was accused of violating banking regulations and had been detained since November. Sources told the online newspaper vietnamnet.vn that the 63-year-old died of liver cancer. He was given medical treatment while in custody at a military detention centre in Hà Nội’s Sóc Sơn District. In recent days, his health deteriorated and he was taken to 105 Military Hospital in Sơn Tây Town for emergency treatment on Thursday morning, but he died before being hospitalised. Hà’s body has been transferred … [Read more...] about Former BIDV chairman dies in custody