Understanding Vietnam’s Labor Market and Key HR Compliance in 2021

Presenter(s):

• 

  Filippo Bortoletti , Alumna

  Director, Vietnam
  

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With a working-age population of over 54 million, a steadily increasing proportion of trained workers, and competitive costs compared to neighboring countries, Vietnam’s ample and affordable workforce has always been a key factor in driving foreign inbound investment.

In the current framework, as Vietnam develops into a prominent regional manufacturing hub, companies entering the market need to consider workforce availability and implement appropriate HR strategies to source an appropriate workforce as well as attract and retain the best talent.

In this webinar, Filippo Bortoletti, our International Business Advisory Senior Manager, discussed key HR considerations for foreign investors when investing and operating in Vietnam.

Key topics:

• Vietnam’s labor market: Key characteristics and availability of local workforce clustered by region;
• Taxes and insurances considerations: Tax residency rules; Personal Income Tax (PIT) for locals, foreign residents, and non-residents; PIT deductions and benefits; Social Health and Unemployment Insurance (SHUI) policies;
• Guidance and key considerations in drafting a labor contract; and 
• Key conditions for termination of labor contract.

 We hope you find the webinar helpful. Should you have any further concerns or questions when applying the solutions brought up in the webinar, please do not hesitate to contact us.