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Cost Impact: New Labour Code, New Union Law, and Draft Employment Law

In 2012, the National Assembly passed two important laws regarding labor matters including Labor Code No. 10/2012/QH13 dated 18 June 2012 taking effect effective date from 1 May 2013 (the “New Labor Code”) and Law No. 12/2012/QH13 on Trade Union dated 20 June 2012 taking effect from 1 January 2013 (the “New Union Law”). These laws will replace the current Labor Code passed on 23 June 1994, amended and supplemented in 2002, 2006 and 2007 (the “ Current Labor Code”) and current Law No. 40-LCT/HDNN8 on Trade Union dated 30 June 1990 (the “Current Union Law”). Also, the new draft of Employment Law is under discussion and expected to take effective from 1 January 2015 (the “Draft Employment Law”).

Providing many new regulations, these new laws will explicitly impact to labor relationship and employers’ business. In the scope of this document, we will focus on the impact of new laws to company (employer) costs. Specifically, the revisions can make company direct / indirect costs (as defined below) increased.:

• “Direct cost” revisions mean legal requirements that would directly impose higher taxes, fees and labor costs on the enterprises, e.g., increase of probationary salary, minimal salary rates, insurance contribution rates, change of leave regimes, increase of salary for overtime, new regulation of union fund, etc.

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Executive MBA Information Session – University of Hawaii, Mar 26

When: 6pm – 8pm on Monday, March 26th 2012
Where: 3rd Floor, PVC-SG Building, 11bis Nguyen Gia Thieu St., D.3, HCMC

Details

Who: Executives interested in a world-class Executive MBA in Vietnam
What: Executive MBA Information Session
Cost: No cost – Free of Charge for interested executives

Topics to be discussed

  • University of Hawaii and its international recognition
  • UH Shidler College of Business and its AACSB accreditation
  • Benefits of getting a world class MBA while working and living in Vietnam
  • Program curriculum and distinguished teaching faculty
  • Admissions requirements, application procedures, IELTS, TOEFL

Register to attend (free of charge – no cost)
Please click here to Register by email immediately
Or phone Mr. Phan Ngoc Thanh, Director of Marketing and Recruitment
(08) 3933 3033 or 091-851-5031 (mobile)

Key Program Features

Highly Ranked The University of Hawaii Shidler College of Business is renowned for its expertise in international management and ranked among the top 25 graduate schools in the US for international business by U.S. News & World Report.

AACSB accredited The only AACSB Accredited MBA Program in Vietnam, which assures a high-quality, relevant, and internationally-recognized MBA.

Top Faculty All classes are taught in Vietnam by University of Hawaii Faculty, who travel to Vietnam to deliver their instruction and course material face-to-face. Faculty use a variety of interactive teaching formats and methods designed to engage and challenge experienced business leaders.

Asia-Pacific Focus A pioneer among U.S. business schools in international business, the University of Hawaii distinguishes itself through its focus on the Asia-Pacific Region. The Shidler School of Business’s faculty have a research-based, in-depth knowledge of Asia-Pacific issues and practices.

Extensive Alumni Network There are more than 25,000 University of Hawaii Business School Alumni in 40 countries around the world. The Vietnam Executive MBA program has been in operation in Hanoi since 2001 and has developed a senior alumni network across the country.

Flexible Schedule Executive MBA classes are scheduled conveniently at night and on weekends to allow busy professionals to attend classes, and to continue working full time, while achieving an MBA degree in 22 months.

Convenient Location Classes are held in modern facilities in Ho Chi Minh City (District 1) and Hanoi, major centers of commerce, finance, culture and tourism in Vietnam.

Rigorous Curriculum Faculty and curriculum that challenge students to solve complex business problems in a global environment, apply strong analytical and strategic thinking to multifaceted business issues, and to develop sophisticated management skills.

Diverse Executive Students Vietnam citizens or foreign nationals living in Vietnam are welcome to apply, with classes typically made up of 40 – 50 students from around the world, with an average of 5 to 10 years of work experience

University of Hawaii Executive MBA Program in Vietnam
http://www.shidler.hawaii.edu/vietnam

HCMC:
3rd Floor, 11-bis Nguyen Gia Thieu Street, District 3
T: (08) 3933 3033
M: 0918 515 031
E: [email protected]

Hanoi:
Suite 1205, 12th Floor, Building A, FTU, 91 Chua Lang, Dong Da District
T: (04) 8587 5992
M: 0933 413 546
E: [email protected]

Shidler Hawaii Vietnam EMBA Ohana (Family), Vol 2, Feb 2012

Univ of Hawaii Exec MBA in HCMC – Info Session, July 20, 2011

University of Hawaii Executive MBA in HCM City

Details

Who: Executives interested in a world-class Executive MBA in HCMC
What: Executive MBA Information Session
Cost: No cost – Free of Charge for interested executives
When: Wed, Jul 20th 2011 6:00 pm to 8:00 pm
Where: 3rd Floor, PVC-Saigon Building, 11 bis Nguyen Gia Thieu Street, Dist. 1,

Topics to be discussed:

• University of Hawaii and its international recognition
• UH Shidler College of Business and its AACSB accreditation
• Benefits of getting a world class US MBA while in Vietnam
• Program curriculum and our distinguished teaching faculty
• Admissions requirements, application procedures, IELTS, TOEFL

Register to attend (free of charge – no cost)

Please click here to Register by email immediately,
Or phone to Mr. Phan Ngoc Thanh, Director of Marketing and Recruitment
(08) 3933-3033 or 091-851-5031 (mobile)

Key Program Features

Highly Ranked The University of Hawaii Shidler College of Business is renowned for its expertise in international management and ranked among the top 25 graduate schools in the US for international business by U.S. News & World Report.

AACSB accredited The only AACSB-accredited MBA Program in Vietnam, which assures a high-quality, relevant, and internationally-recognized MBA.

Top Faculty All classes are taught in Vietnam by University of Hawaii Faculty, who travel to Vietnam to deliver their instruction and course material face-to-face. Faculty use a variety of interactive teaching formats and methods designed to engage and challenge experienced business leaders.

Asia-Pacific Focus A pioneer among U.S. business schools in international business, the University of Hawaii distinguishes itself through its focus on the Asia-Pacific Region. The Shidler School of Business’s faculty have a research-based, in-depth knowledge of Asia-Pacific issues and practices.

Extensive Alumni Network There are more than 25,000 University of Hawaii Business School Alumni in 40 countries around the world. The Vietnam Executive MBA program has been in operation in Hanoi since 2001 and has developed a senior alumni network across the country.

Flexible Schedule Executive MBA classes are scheduled conveniently at night and on weekends to allow busy professionals to attend classes, and to continue working full time, while achieving an MBA degree in 22 months.

Convenient Location Classes are held in modern facilities in Ho Chi Minh City (District 1) and Hanoi, major centers of commerce, finance, culture and tourism in Vietnam.

Rigorous Curriculum Faculty and curriculum that challenge students to solve complex business problems in a global environment, apply strong analytical and strategic thinking to multifaceted business issues, and to develop sophisticated management skills.

Diverse Executive Students Vietnam citizens or foreign nationals living in Vietnam are welcome to apply, with classes typically made up of 40 – 50 students from around the world, with an average of 5 to 10 years of work experience.

University of Hawaii Executive MBA Program
http://www.shidler.hawaii.edu/vietnam
3rd Floor, PVC-Saigon Building, 11-bis Nguyen Gia Thieu Street, D. 3, HCMC, Vietnam
T: +84 (0) 8 3933 3033
M: +84 (0) 918 515 031
Email: [email protected]

Weekly Update Jun 08: U Hawaii E-MBA, EducationUSA Alumni, Wedding Fair, Maximize Hotel Bookings

Latest updates on H1N1/A Flu from U.S. Center for Disease Control, U.S. Department of State (Travel), and World Health Organization (WHO)

We, Jun 10 U Hawaii Executive-MBA in HCMC Information Session Vietnam citizens or foreign nationals, with an average of 5 to 10 years work experience, are invited to attend a free-of-charge executive information session.

Dong Nai Investment Opportunity: 200 Hectare development in Long Thanh District, on Highway No. 1, 10km radius from Bien Hoa, Long Thanh, Amata, Ho Nai. Licensed for service activities: employee housing and services, education, power generation, recycling. Wholly owned and licensed, no resettlement. To be sold as share investment, subdivided, build to suit, long term lease. By Owner, courtesy to brokers.

We, Jun 10 Deadline for Alumni/ae Interview Applications: 1st Annual EducationUSA Alumni Conference, which will bring together Vietnamese alumni of regionally accredited U.S. colleges and universities to learn about and celebrate their many achievements, discuss challenges, and create a roadmap for future activities and projects. Participation in the conference is free. Click the link for information and Alumni/ae Interview Applications (June 10 deadline), Distinguished Alumni/ae Award Nominations (July 8 deadline), and Registration (July 15 deadline).

Park Hyatt Saigon’s Square One Business Set Lunch, Mo-Fr From 12:00 noon to 2:30pm every weekday (Mo-Fr). Chef Satoru Takeuchi and his team prepare delicacies for a lunch that is guaranteed to offer nutrition, be time-effective and delectable.

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Weekly Update May 04: Real Estate Networking, Le Dang Doanh – Outlook 2009, Direct Selling

Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates.

Upcoming Events and Activities

Plan ahead. Click here to see all upcoming Events and Committee Meetings

Th, May 7 Business Networking Night: Real Estate and Construction. Join colleagues from the Real Estate, and Construction industries in an informal business networking night with a focus on Real Estate Development Projects in the Ho Chi Minh City area.

Su, May 10, Mother’s Day Celebration at Legend Hotel Saigon Show Mum your love and appreciation by treating her and the family to Saigon’s most spectacular international buffet. They are sure to appreciate its large array of finest seafood and a delicious and most mouthwatering spread of gourmet dishes and a wide selection of irresistible desserts. Find out why every guest may expect the best and get it at Atrium Café.

Th, May 14 Dr. Le Dang Doanh on Global Economic Crisis and Vietnam Outlook 2009 Dr. Le Dang Doanh, Member of the Board and Senior Research Fellow of the Vietnam Institute of Development Studies, will provide an overview of Vietnam’s current economic outlook and discuss the government’s economic stimulus programs and policies to encourage economic growth. Dr. Doanh is former President of the Central Institute of Economic Management (CIEM).

Fr, May 15 Panel Discussion and Business Networking: Direct Selling Join colleagues from the Direct Selling industry in an informative roundtable discussion of the industry in the Asia-Pacific region in general and Vietnam in particular, followed by business networking night with key industry, government, and media representatives.

May 1-31, Caravelle declares 50% off on Rooms on its 50th anniversary. Fifty years after opening as the most upscale hotel in Vietnam, the Caravelle Hotel has slashed the price of its rooms by 50% in recognition of its anniversary celebration this May. Reserve online in May, stays must be completed by Dec 31, 2009.

Fr, May 22-24 Phan Thiet Family Weekend and Golf Outing. Get away for a fun family weekend with other AmCham members, family and guests at the Novotel Ocean Dunes Golf Club and Resort in Phan Thiet. Enjoy a two -day golf tournament and organized activities for the children. Or laze away the days in a comfortable lounge chair by the pool or ocean, or participate in “ocean sports” like boogie-board surfing, ocean kayaking, wind surfing, or jet ski.

Th-Fr, Jul 23-24 Effective Cost Management and Cost Control The Asia Business Forum is proud to present the executive training course on “Effective Cost Management & Cost Control” on 23-24 July 2009 at Hotel Equatorial, Ho Chi Minh City, Vietnam. This workshop will not only demonstrate how and where organizational costs should be reduced in the short term but how the lower cost base can be sustained. This is the best course on this topic, conducted by an expert management accounting practitioner who is also a world class presenter.

July 4th Celebration and Family BBQ

All upcoming events …

News and Issues Updates

Click this link to read News Highlights: Business, Trade, and Investment in Vietnam and Asia.

Chinese authorities quarantine airline passengers Chinese health authorities said they have found and placed under quarantine 164 of the 189 passengers and crew members aboard a flight from Mexico to Shanghai that carried a man now ill with the A/H1N1 flu virus.

Vietnam govt bond sales fail The State Treasury had hoped to raise 1 trillion dong in the bond sale to big infrastructure projects, such as roads, bridges and ports. At the previous auction of government Vietnamese dong-denominated bonds on March 12, the Treasury also failed to sell any two-year and three-year debt.

Vietnam could be in for bumpy ride in a longish, “U-shaped” recession How will Vietnam react to the global recession, which many predict will be “very severe, deep and protracted U-shaped recession,” that will last for a period of at least three years. While Vietnam’s export revenues increased slightly in the first quarter, Vietnam’s import value fell 45 per cent due to domestic production stagnation, cutting the demand for imported machinery, equipment and raw materials.

Foreign visitors decline 18%; airlines cut flights The number of foreign visitors dropped 17.8 percent to about 1.3 million in the first four months compared to the same period in 2008. International airlines have cut down their summer flight schedule to Vietnam in response to decreasing demand for air travel. However, Northwest Airlines will fly daily from HCM City to the USA starting June 1.

Sea Links Golf & Country Club, Phan Thiet, Vietnam, joins RCI resort network Located approximately 200 kilometers east of Ho Chi Minh City amidst the backdrop of a crystal-clear ocean, Sea Links Golf & Country Club is an expression of aquatic inspiration and the calming nature of Phan Thiet’s sea. It is noted to be the leading five-star golf resort in Vietnam with luxury accommodations and facilities that include a golf course, spa and tennis courts.

The world’s worst places to work We think Ho Chi Minh City is a pretty nice place to live and work, but some others don’t think so, rating it 9th worst place in the world to work, mostly because of “disease and sanitation.” And Hanoi is rated 11th. Neighboring Singapore, on the other hand, is ranked No. 26 on the list of “Best Places to Live.” We’re not sure how they measure this, but read what they say.

Companies plan to recruit workers, raise salaries despite recession A recent survey indicates that 67 percent of surveyed companies plan to hire more staff over the next six months, while 59 percent increased salaries between the fourth quarter of 2008 and the first quarter of 2009.

VN National University in HCM City opened two microchip design labs Mentor Graphics and Applied Micro Circuits Corp. (AMCC) equipped each lab with a server, 20 laptops and chip design software.

Apr 30-May 1 holidays begin on nightmarish note – traffic jams and congestion Travelers around Vietnam have been suffering since late Wednesday at overcrowded bus stations and gridlocked roads that failed to cope as people streamed in to take advantage of the long holiday weekend. Similar problems are expected on Sunday, when passengers make the return trip.

Hong Kong orders quarantine of hotel Hong Kong’s government imposed a controversial full quarantine on approximately 300 guests and staff of a hotel in the territory after a guest was found to have the A/H1N1 flu virus, an extreme measure to control the spread of the disease.

WHO: swine flu is at “Phase 5, a strong signal that a pandemic is imminent” Mexico, has announced the partial suspension of non-essential work and services from 1 to 5 May – a holiday period there. In a TV address, Mexico’s President urged people to stay in with their families – saying there was “no place as safe as your own home”. Already, schools across Mexico have closed, public gatherings are restricted and archaeological sites have been placed off-limits.

ADB projects 4.5% growth for Vietnam The ADB annual Asian Development Outlook said growth in Asia’s developing economies would fall to 3.4 percent this year, with Southeast Asia as a whole almost stagnant with a 0.7 percent rise. However, “when it comes to Vietnam, actually we should not use the word ‘downturn’ or ‘recession.’ It’s just a slowdown,” ADB’s country economist for Vietnam said, projecting the growth to rebound to 6.5 percent in 2010.

Prime Minister requests harmonious labor relations, stable investment environment, social order Action Plan for the implementation of Directive No. 22-CT/TW dated 05 June 2008 of the Secretariat of the Central Committee on enhancing leadership, providing direction for the development of harmonious, stable and progressive labor relations within enterprises.

Click this link to read these and more News Highlights: Business, Trade, and Investment in Vietnam and Asia.

Information Resources on AmCham Web Site www.amchamvietnam.com

Event Presentations and PHOTO ALBUMS Did you miss an AmCham event? Were you there but wanted to have a copy of the presentation? Didn’t get the business card of the person you were talking with? Now you can download the presentations by clicking on the above link. Also, you can see a list of people that attended the event, with links to their company contact information.

Online Directory Looking for information on AmCham companies? Click here to browse the Online Directory for information about and contact points for over 450 AmCham companies, and over 900 representatives. Also with links to company web sites for even more information about American and international businesses in Ho Chi Minh City.

Benefits and Services Review AmCham benefits and services and learn how you can benefit from Networking Online, with about 100,000 visitors and 250,000 page-views per month to www.amchamvietnam.com.

Your announcement in AmCham’s Weekly Update email Early each week, AmCham’s Weekly Update email goes out to over 900 representatives of over 450 AmCham companies, plus thousands of subscribers in Vietnam, Singapore, Japan, and the USA. We welcome event announcements that are of interest to our business readers.

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Keep up-to-date about U.S.-Vietnam trade and investment with Weekly Updates.