Managing Contracts and Severance in Vietnam – Latest Issue of Vietnam Briefing Magazine

In this issue:

• Identifying Trends in Vietnamese Labor
• Permitted Contract Structures Under Vietnamese Labor Code
• Contract Termination and Severance Obligations

Vietnam is undergoing a significant transformation in economic development, moving from conventional production of low cost goods towards the output of more technologically intensive products. While presenting significant opportunities for foreign investors, this has simultaneously created a strain on domestic labor markets. With a finite pool of skilled labor, now more than ever before, investors are exposed to issues stemming from the sourcing of qualified talent and the retention of existing workers for the long term.

Although changes within Vietnam’s economic and production landscape do present challenges, a firm understanding of contracting laws and decisive action on the part of human resource managers can effectively safeguard and manage these issues as they arise. To ensure that these dynamics are minimized, it is of critical importance that investors maintain an understanding of Vietnam’s existing labor laws as well as employ systems of monitoring to catch and assess new legislation as it is released.

In this issue of Vietnam Briefing, we discuss the prevailing state of labor pools in Vietnam and outline key considerations for those seeking to staff and retain workers in the country. We highlight the increasing demand for skilled labor, provide in depth coverage of existing contract options, and showcase severance liabilities that may arise if workers or employers choose to terminate their contracts.

Annual Audit and Compliance in Vietnam 2016
In this issue of Vietnam Briefing, we address pressing changes to audit procedures in 2016, and provide guidance on how to ensure that compliance tasks are completed in an efficient and effective manner. We highlight the continued convergence of VAS with IFRS, discuss the emergence of e-filing, and provide step-by-step instructions on audit and compliance procedures for Foreign Owned Enterprises (FOEs) as well as Representative Offices (ROs).

Human Resources in ASEAN
In this issue of ASEAN Briefing, we discuss the prevailing structure of ASEAN’s labor markets and outline key considerations regarding wages and compliance at all levels of the value chain. We highlight comparative sentiment on labor markets within the region, showcase differences in cost and compliance between markets, and provide insight on the state of statutory social insurance obligations throughout the bloc.

Tax, Accounting and Audit in Vietnam 2016 (2nd Edition)
This edition of Tax, Accounting, and Audit in Vietnam, updated for 2016, offers a comprehensive overview of the major taxes foreign investors are likely to encounter when establishing or operating a business in Vietnam, as well as other tax-relevant obligations. This concise, detailed, yet pragmatic guide is ideal for CFOs, compliance officers and heads of accounting who must navigate Vietnam’s complex tax and accounting landscape in order to effectively manage and strategically plan their Vietnam operations.