Business

Vietnamese company agrees to raise salary after 5,000 workers stage strike

Published

1 year ago

February 13, 2022

A leather shoe manufacturing company in Nghe An Province, Vietnam has agreed to increase the basic salary of all employees by six percent after more than 5,000 workers staged a strike at the firm earlier this week.

Nguyen Chi Cong, vice-chairman of the provincial labor confederation, confirmed on Saturday that the agency had had a meeting with authorities in Dien Chau District and leaders of Viet Glory Company.

At the session, Viet Glory Company decided to increase the basic salary by six percent for all employees starting February, while raising the seniority allowance for those who have worked for one year and over.

With this latest decision, workers at the firm will have VND200,000 (US$8.8) added to their basic salary each month.

This means that the company will have to spend over VND1 billion ($44,000) more every month to pay its staff.

The board of directors asked all workers to return to work on Monday.

If any employee still refuses to resume work, the company will handle each case in accordance with the labor law.

Leaders of Viet Glory Company negotiate with their employees in Nghe An Province, Vietnam, February 10, 2022. Photo: Doan Hoa / Tuoi Tre

At the meeting, Viet Glory also complained about several difficulties it has been facing, including rising prices of raw materials, more production, operating, and management costs, as well as low profits.

The labor confederation vice-chairman believed that the company has answered all the questions raised by its employees.

He called on all workers to return to work in order to ensure their incomes as well as the production process.

More than 5,000 workers staged a stoppage at Viet Glory Company on February 7, the very first day they went back to work after the Lunar New Year holiday.

The striking workers complained that the current base salary and seniority allowance are too low, rendering their monthly income insufficient to make ends meet.

Leaders of the company had tried to negotiate with their employees but the efforts were in vain as the workers said they would only go back to work if the firm raised their basic salary and seniority allowance.

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Source: https://tuoitrenews.vn/news/business/20220213/vietnamese-company-agrees-to-raise-salary-after-5000-workers-stage-strike/65696.html

Related Topics:company Nghe An salary strike worker

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PV Power receives “BB” rating for third consecutive year

Published

17 mins ago

June 8, 2023

TienphongNews

Fitch Ratings has affirmed PetroVietnam Power Corporation (PV Power)’s long-term foreign-currency issuer default rating (IDR) at “BB” with a positive outlook.

PV Power receives “BB” rating for third consecutive year hinh anh 1

Workers at Ca Mau 1 power plant (Photo: VNA)

Hanoi – Fitch Ratings has affirmed PetroVietnam Power Corporation (PV Power)’s long-term foreign-currency issuer default rating (IDR) at “BB” with a positive outlook.

This is the third consecutive year that PV Power has received “BB” rating with a positive outlook, the highest rating that a Vietnamese company can reach.

The rating, which is based on PV Power’s Standalone Credit Profile (SCP) assessment of “BB”, is on a par with the IDR of its 80% parent, Vietnam Oil and Gas Group (PVN, BB/Positive).

PV Power‘s SCP is driven by its strong market position as Vietnam’s second-largest electricity producer, accounting for around 5% of the country’s total electricity output and 5% of installed capacity in 2022. It also benefits from diversified fuel sources, long-term power-purchase agreements (PPAs) with Vietnam Electricity (EVN, BB/Positive) for more than 80% of its electricity output and a strong financial profile.

However, EVN’s IDR constrains PV Power’s SCP, even though PV Power’s financial profile is stronger than its SCP assessment indicates. The positive outlook is driven by the positive outlook on EVN’s IDR.

The rating is expected to help the firm attract more attention from international credit institutions. Currently, PV Power is investing in many projects with large capital needs such as Nhon Trach 3 & 4 Power Plants and a power project using imported liquefied natural gas (LNG) in Quang Ninh.

As of the end of the first quarter this year, PV Power’s total electricity production had surpassed 4 billion kWh, exceeding its plan by 16%, with a revenue of 7.91 trillion VND (337.04 million USD), 20% higher that its quarterly plan, up 10% year on year./.

Source: https://en.vietnamplus.vn/pv-power-receives-bb-rating-for-third-consecutive-year/253813.vnp

Business

Vietnam Fisheries Trade Union raises fishermen’s awarness on combatting IUU fishing

Published

1 hour ago

June 8, 2023

TienphongNews

Vietnam Fisheries Trade Union (VFTU) on May 29 held a communication event aiming to raise awareness of union members on national sovereignty over seas and islands as well as on the prevention and combat of illegal, unreported and unregulated (IUU) fishing.

Vietnam Fisheries Trade Union raises fishermen's awarness on combatting IUU fishing hinh anh 1

To remove the European Commission’s yellow card, it is necessary for ship owners to comply with legal documents on seas and islands while operating at sea. (Photo: nongnghiep.vn)

Khanh Hoa – Vietnam Fisheries Trade Union
(VFTU) on May 29 held a communication event aiming to raise awareness of
union members on national sovereignty over seas and islands as well as on the
prevention and combat of illegal, unreported and unregulated (IUU) fishing.

Participants at the event were updated on the current
situation of the country’s sea and islands, efforts to combat IUU fishing associated with the responsibilities of union members and fishermen towards having the “yellow card” imposed by the European Commission
on Vietnamese fishery products removed.

According to the Vietnam General Confederation of Labour, the
VFTU has 90 chapters in 16 out of 28 coastal provinces and cities, with nearly
18,000 members and over 5,200 fishing vessels of more than 15m in length.

In recent years, the VFTU has been proactive in popularising legal
documents on seas and islands and calling on its members and boat owners to combat
IUU fishing. It has coordinated with relevant agencies in providing national
flags, first aid kits and life vests to fishermen.

Vietnam Fisheries Trade Union raises fishermen's awarness on combatting IUU fishing hinh anh 2

At the signing ceremony (Photo: nongnghiep.vn)

The trade union has timely issued statements rejecting the unilateral fishing ban in the East Sea by foreign countries, as well as protesting acts that hinder, drive away, attack and arrest people and property of union members and Vietnamese fishermen.

At the event, the
VFTU signed several cooperation agreements with enterprises such as Son Ha Group, Bao Viet Insurance Corporation and
Minh Hong Phuc Vietnam Co. Ltd. These agreements will create favourable
conditions for union members to access products and services at preferential
prices, thereby helping them feel secure while operating at sea, contributing
to protecting the country’s sovereignty over sea and islands./.

Source: https://en.vietnamplus.vn/vietnam-fisheries-trade-union-raises-fishermens-awarness-on-combatting-iuu-fishing/253811.vnp

Business

Vietnamese durian gets more farming area codes for export to China

Published

2 hours ago

June 8, 2023

TienphongNews

China has approved another 47 farming area codes and 18 packaging facility codes for importing durian from Vietnam, according to Ministry of Agriculture and Rural Development.

Vietnamese durian gets more farming area codes for export to China hinh anh 1

Illustrative image (Photo: thanhnien.vn)

Hanoi – China has approved another 47 farming area codes and 18
packaging facility codes for importing durian from Vietnam, according to
Ministry of Agriculture and Rural Development.

Farming area codes enable traceability and thus agricultural exports.

To qualify for export to China, durian need to weigh three kilogrammes or more,
meet stringent safety standards, have traceability stamps in English or Chinese,
and show the name of the packaging facility.

China, the world’s largest durian market, began importing the fruit from Vietnam
last year after approving 51 farming area codes.

The number has since increased to 293 along with 115 packaging facility codes.

According to statistics from the General Department of Customs, durian has been
identified as the fruit with the highest economic value.

Its exports in the first quarter were worth 153 million USD, 8.3 times up from
the same period last year, of which China accounting for 83%.

Dang Phuc Nguyen, general secretary of the Vietnam Fruit Association, said the
fact that more farming area codes and packaging facility codes had been
approved by China was good news for durian growers and exporters.

It would enable Vietnam to increase exports to China, where demand is enormous./.

Source: https://en.vietnamplus.vn/vietnamese-durian-gets-more-farming-area-codes-for-export-to-china/253798.vnp