Vietnamese businesses burdened with labor costsVietNamNet Bridge - Some provisions of the Labor Code have placed difficulties on enterprises, especially those with a high number of workers. Some provisions of the Labor Code have placed difficulties on enterprises, especially those with a high number of workers. Economist Pham Chi Lan said that Vietnamese authorities had not anticipated all the possible impact of wage increases on business owners. Many businesses complain that the monthly pay is too heavy, while Vietnamese productivity is lower than in other regional countries.The labor cost burden was one of the reasons that forced Minh Phu Seafood to cut the labor force. In 2014, it had 15,000 workers and earned export turnover of $730 million.In 2015, the number of workers fell to 12,000 and export turnover to $524.4 million.

Source: VietNamNet News September 03, 2016 06:56 UTC