The new executives of the Taiwanese footwear company Kai Yang in Hai Phong City’s Kien An District on Monday invited the unpaid workers to resume work. At a meeting between the firm's new management and employees, Jenny Koo, Chairman of H&S Company Limited, which has taken over Kai Yang, said she and her partners will do their best to pay 50 percent of all workers’ July salary this week and the rest in the following week. The workers will return to work Tuesday, after a week of unemployment following Kai Yang’s former Taiwanese boss Huang Shang Che and 17 compatriots leaving the country without notice on August 11. As of Monday, the exact amount owed the employees had not been calculated. H&S Company Limited, a South Korean company, is one of the partners and investors in Kai Yang. The workers were very happy with the new development. On the company’s official Facebook page called Kai Yang Vietnam, which has both workers and executives as members, the … [Read more...] about Taiwanese footwear firm asks 2,500 employees to resume work
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Taiwanese firm in Vietnam sacks 10,000 workers before Lunar New Year
My Phong textile company in the Mekong Delta of Tra Vinh Province, which makes leather shoes for export, decided to terminate the contracts of 10,142 workers on Tuesday. Tet, the Lunar New Year, is the country’s biggest festival which peaks on February 5. A company spokesperson said the reason for the mass dismissal is that its partner in the U.S. has gone bankrupt, affecting nearly 70 percent of its export contracts. Local authorities immediately dispatched officials to meet the management to safeguard the legitimate rights of the workers. The company promised to fully pay the laid-off workers their January and February salaries, holiday bonuses and unemployment benefits in accordance with labor laws to ensure they are able to go home and celebrate Tet. It also agreed not to sack around 600 women workers who are pregnant or on maternity leave. The province’s labor union is working with vocational centers and local companies requiring human resources to help the … [Read more...] about Taiwanese firm in Vietnam sacks 10,000 workers before Lunar New Year
BUSINESS NEWS IN BRIEF 1/9
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
Meeting labour criteria key to fishery growth: seminar
Illustrative photo (Source: VNA) HCM City (VNA) – Firms fulfilling labour criteria is a key for the fishery sector to achieve sustainable growth, experts said at a seminar held in Ho Chi Minh City on August 22. Nguyen Thi Thu Trang, head of the Legal Department at the Vietnam Chamber of Commerce and Industry (VCCI), said Vietnam has engaged in more than 10 free trade agreements (FTAs), presenting opportunities for the expansion of export markets, particularly in fishery. Trang noted most new-generation FTAs incorporate terms on labour and social welfare, including collective bargaining, eradication of forced labour and prohibition of child labour. The pacts also have principles on proper labour conditions regarding salary, working time and safety, while encouraging the development of labour-related corporate social responsibility. She said that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which Vietnam is a member, is considered as … [Read more...] about Meeting labour criteria key to fishery growth: seminar
BUSINESS NEWS IN BRIEF 23/8
Vietnam fisheries int’l exhibition opens in HCM City Visitors to the Vietnam Fisheries International Exhibition (Vietfish) 2018 The Vietnam Fisheries International Exhibition (Vietfish) 2018 kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on August 22. The event attracts 233 exhibitors from 14 countries and territories, including 153 of Vietnam, showcasing aquatic products in 374 booths. The numbers of both exhibitors and booths increase by 6.8 percent and 3.6 percent, respectively, from last year. Vietfish 2018, lasting through August 24, also features many workshops discussing the market situation, production trends and other hot topics in the fisheries sector at present. Ngo Van Ich, Chairman of the Vietnam Association of Seafood Exporters and Producers, said over the last 20 years, Vietfish has established itself as a leading and influential fisheries exhibition in Asia as seen in the surge of exhibitors, booths and visitors. He noted … [Read more...] about BUSINESS NEWS IN BRIEF 23/8