VIETNAM'S MINIMUM WAGES TO INCREASE BY 6.5 PER CENT IN 2018
The minimum wage will be officially increased from January 1, 2018 by an extra VND180,000-230,000 ($8.07-10.13), depending on the region. The government has issued Decree No.141/2017/ND-CP, amending regional minimum wages for workers employed under a labour contract. Accordingly, the increase stands at an average of 6.5 per cent (See chart below).
NEW MEASURES NEEDED TO DEVELOP LOGISTICS SECTOR
It is necessary to take new measures to improve the competitiveness of local logistics companies, said Minister of Industry and Trade Tran Tuan Anh at the Vietnam Logistics Forum 2017 in Hanoi City last Friday.
IMPROVING INFRASTRUCTURE AND ECONOMIC CONNECTIVITY IN NORTHERN AND CENTRAL PROVINCES
The Asian Development Bank (ADB) has approved two loans with a total value of $299 million for Vietnam, according to the bank's announcement on December 18.
GARMENTS AND TEXTILES FETCH US$ 31 BILLION
Overseas shipment of garments and textiles was expected to fetch US$ 31 billion, representing a year-on-year growth of 10.23%, according to the Viet Nam Textile and Apparel Association (VITAS).
TEXTILE AND GARMENT SECTOR STANDS TO BENEFIT FROM EVFTA
The EU-Vietnam Free Trade Agreement will offer direct opportunities to Vietnam to upgrade its textile and garment sector. EU-MUTRAP team leader Claudio Dordi said that thanks to the EU-Vietnam Free Trade Agreement (EVFTA) expected to be signed next year, there will be ample opportunities to upgrade the value chain for the textile and garment sector as the EVFTA will provide tariff preferences to Vietnamese exporters to the EU.
CONSTRUCTION RULES TO BE CUT
The Ministry of Construction is preparing to propose huge changes in construction regulations in order to improve the climate for construction and real estate business.
INFRASTRUCTURE VITAL FOR FOREIGN INVESTMENT ATTRACTION
Infrastructure plays a key role in whether foreign investors decide to make an investment in Vietnam or not, heard a conference on infrastructure development in HCMC on December 7.
HOTEL REAL ESTATE NEEDS BETTER PLANS
Viet Nam’s hotel and resort real estate needs to have a comprehensive plan to ensure its development is on the right track. According to Mauro Gasparotti, director of Savills Hotels Asia Pacific, the hotel and resort property market of Viet Nam was growing, driven by strong increase in the number of foreign tourist arrivals in recent years.
