During talks on September 6 with visiting Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung, Japan’s Minister of Justice Yasuhito Hanashi said the country will be hiring people in a number of professions in the immediate future, with the priority on elderly care. The Ministry of Justice will propose expanding the acceptance of trainees as drivers.
The Ministry of Labor, Invalids and Social Affairs has noted an imbalance in supply of and demand for workers in certain localities and industries in Vietnam, with the needs of businesses not being met as they focus on economic recovery.
It has been forecast that many industry groups such as manufacturing, information technology, healthcare, delivery, and processing will continue to “accelerate” recruitment in the second half of the year. Ho Chi Minh City - the country’s largest labor market - will need to recruit 136,000-150,000 workers to the end of the year. Labor shortages seem inevitable, but are likely to be insignificant.
According to the Ministry of Labor, Invalids and Social Affairs, Vietnam’s workforce was short of about 120,000 workers in the first quarter of this year, 2-3 per cent more than in previous years. The shortage is mainly in unskilled workers in the textile and garment industry and electronic component assembly. Recruitment demand among enterprises will total nearly 1.3 million employees this year, an increase of 18 per cent compared to 2021.
Industries with high recruitment demand, such as processing and manufacturing, real estate, banking, and fast-moving consumer goods (FMCG), are forecast to see even greater demand over the remainder of 2022.
In its newly-released stock market outlook, KBSV forecasts that five industries will benefit the most from the recovery in Vietnam’s economy, which will be a positive for their stock prices over the remainder of 2022. The groups are retail; travel; banking; industrial park real estate; and production and export.
At a meeting with the Ho Chi Minh City People’s Committee, Deputy Prime Minister Vu Duc Dam emphasized that the city should apply flexible methods to create favorable operating conditions for food processing, food, and e-commerce businesses in the city.
Northern Thai Nguyen province is to build an industrial park (IP) costing VND793 billion ($34.71 million). Expected to come into operation in 2024, the IP will cover an area of 74.8 ha and aims to attract businesses in the fields of manufacturing technology, electronic components, supporting industries, apparel, handicrafts, and other industries.
