Author: Mei Ling Tan

  • Vietnam eyes sustainable development for coconut industry

    Vietnam eyes sustainable development for coconut industry

    The coconut industry is playing a very important role in the socio-economic development of Vietnam and should be considered an indispensable part of the country’s development strategies, said officials.

    Vietnam has more than 188,000 hectares of coconut, accounting for 1.67% of that of the world, according to the Institute of Agricultural Planning and Economics.

    Coconut trees are a source of income for about 389,530 farmer households and the export value of coconut and coconut products has reached over $900 million. Vietnam is in fourth place in the world in terms of coconut value.

    Currently, there are about 854 enterprises that specialize in producing and processing coconut products, along with over 90 companies exporting coconut products. They create jobs for more than 15,000 employees.

    Huynh Quang Duc, Deputy Director of the Department of Agriculture and Rural Development of Ben Tre province, which has the largest coconut area in the country, said that coconut trees play an important role in the socio-economic life of the province. More than 70% of its population relies on coconut growing for their livelihood and the province has more than 163,000 households engaged in coconut farming.

    The production value of coconut products accounts for 20.69% of the province’s total industrial production value; making up 42.51% of its total export turnover and creating jobs for tens of thousands of workers.

    Ben Tre now has 78,000ha under coconut cultivation. Its coconut products have present in nearly 100 countries and territories and access choosy markets such as Europe, U.S. and the Middle East.

    However, there remain shortcomings in the industry, according to Nguyen Quang Dung, Director of the Institute of Agricultural Planning and Projection (NIAPP). They include a loose linkage in the value chain and low processing capacity, he went on.

  • Dollar continues to weaken on black market

    Dollar continues to weaken on black market

    The U.S. dollar fell against the Vietnamese dong on the black market Monday morning. Unofficial exchange points sold the greenback at VND23,700, down 0.04% from Sunday. Techcombank raised its rate by 0.01% to VND23,818. Vietcombank maintained it at VND23,810.

    The State Bank of Vietnam decreased its reference rate by 0.08% to VND23,701.

    The dollar has gained over the dong by 0.34% since the beginning of the year.

    Globally a bruised dollar took respite on Monday after suffering its worst weekly drop of the year, as traders waited on economic data and policy decisions before selling it down any further.

    Chinese growth data and loan-rate settings are due later in the session, ahead of U.S. retail sales and British inflation later in the week and a slew of central bank meetings next week.

    The euro, which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1228. The yen, also up 2.4% last week, held at 138.69 per dollar.

    The dollar’s slide began with yen buying, as investors unwound yen-funded positions in emerging markets, but extended sharply after softer-than-expected U.S. inflation data leant support to wagers that U.S. interest rates will soon peak.

  • EY Bags the Elephant With UBS Audit Deal

    EY Bags the Elephant With UBS Audit Deal

    UBS selects EY as its auditor for the expanded bank following its takeover of Credit Suisse in March. PwC will audit Credit Suisse’s books for 2023.

    EY will have lots more work to do at UBS starting next year, having been retained to audit the merged entity starting next. The Big Four firm has been auditing UBS’s books since 1998, charging it $70 million last year for its services, while Credit Suisse paid PwC $90 million.

    EZ declined to comment on whether it was retained by UBS, saying only that The size and scale of the global EY financial services audit practice means we are able to access resource and specialist skills from across our network.

    The firm can tap into a global staff of about 20,000 bank auditors. The source told the FT that EY’s international operations are more closely integrated than those of its rivals, making it easier for resources to be shared internationally.

    The report went on to say that EY will probably have to drop the work that it does for Credit Suisse to avoid conflicts of interest. The auditor was hired about two years ago by Credit Suisse to look into anti-money laundering measures in its Asian wealth unit.

    PwC has a much shorter relationship with Credit Suisse than EY does with UBS. In 2020, PwC replaced KPMG as Credit Suisse’s external auditor. Earlier this year, Credit Suisse had to delay the release of its annual report after an SEC inquiry.

    The report came out mere days before Credit Suisse was taken over by UBS on March 19.

    On March 10 the SEC asked the bank to explain how it concluded entity-level material weakness did not exist for fiscal years 2021 and 2022, according to the documents.

    EY is not without blemish, having signed off on the books of German fintech Wirecard which collapsed in 2020. It was subsequently barred for two years from bidding for audit contracts for publicly listed companies in Germany.

    UBS, Credit Suisse, and PwC declined to comment to the FT.

  • Rice export prices reach 10-year high

    Rice export prices reach 10-year high

    The global decline of the rice supply and the impact of El Nino climate pattern have led to a sharp increase in the price of rice for export.

    Latest data from General Department of Vietnam Customs shows that in the first half of the year, rice exports reached more than 4.2 million tons and are valued at $2.26 billion, up over 21% in volume and 32% in value over the same period last year.

    The export price of rice in June reached an average of $650 per ton, up 9.4% compared to May and 20.8% higher than the same period last year.

    In the first six months of 2023, the export price of rice is estimated at $539 per ton, up more than 10% over the same period in 2022 and the highest of the past 10 years.

    According to the Ministry of Agriculture and Rural Development, the reason for the sharp increase is the decrease in supply. The emergence of El Nino has also forced many countries to increase rice purchases to stock up.

    The Philippines’ Department of Agriculture forecasts that El Nino will return and severely affect their domestic food production. Indonesia predicts that it may cause widespread drought in the country, so the July-August harvest for agricultural products may drop significantly.

    In the first five months of the year, rice exports to the main markets – Philippines and China, both grew strongly at double digits. In addition, rice exports to new markets such as Indonesia, Chile, Turkey, and Senegal recorded a surge from 1,100-16,000% over the same period last year.

    The Indian government is banning the export of all rice that is not Basmati (a popular rice in South Asia), as prices have been on the rise and they want to control inflation.

    Retail rice prices in New Delhi have increased by 15% this year, while the domestic average price has increased by 8%, according to India’s Ministry of Consumer Affairs, Food and Public Distribution.

    Vietnam Food Association and enterprises believe that if this ban is implemented, global rice prices will increase. In the near future, Vietnamese rice will not only benefit in price but also be favorable for exports.

    An enterprise based in Can Tho in Vietnam’s Mekong Delta said that export orders were abundant and the price of fragrant rice was increasing the most. This enterprise does not even have enough supply to meet the orders. It is forecast that the rice export market in the second half of the year will reach a peak value.

    To ensure domestic and export demand, the agriculture ministry has directed key rice production areas, especially the Mekong Delta, to actively cultivate and prioritize short-duration rice varieties as well as high-quality and fragrant rice varieties suitable for market demand.

    Vietnamese rice has been exported to 156 countries and territories, including many high-end rice markets.

  • Successful Marketing Strategies For Beginners in 2023

    Successful Marketing Strategies For Beginners in 2023

    Let’s say you’re planning a road trip. You’ve got your snacks ready, you’ve got a banging playlist prepared, but you don’t really know where you’re heading. That’s what doing marketing without a strategy is like. You might have all the energy and all the cool ideas, but without a destination in mind or a roadmap to get you there, chances are you’re not going to end up where you want to be.

    Same thing in marketing. A marketing strategy is like your roadmap. It tells you who your customers are, what they want, and how you can reach them. Without a strategy, your marketing efforts might just be shots in the dark, and you could waste a lot of time and resources without getting the results you’re after.

    However, developing a good marketing strategy takes a lot of work and requires a deep understanding of your market. And if you’re juggling so many things, you might feel overwhelmed by the task. This is where marketing assignment help from special essay writing services can save you. These services can help you understand and develop effective marketing strategies. This way, you will nail your assignments and also gain practical knowledge that you can apply in real-world situations. 

    Do Beginners Need a Marketing Strategy?

    Starting a new venture without a marketing strategy means getting to your destination will be a challenge. Whether you’re launching a small business or you’re a student dipping your toes into the world of marketing, having a strategy is crucial, even for beginners.

    Consider your marketing strategy as your guide. Basically, it’s a plan that outlines your goals, identifies your audience, and lays out the tactics you’ll use to reach them. It’s something akin to grading college papers, where teachers evaluate students based on their understanding of the subject, their approach to the task, and how effectively they’ve communicated their thoughts.

    Much like the feedback process in grading, where teacher comments for students’ writing can guide improvements and new learning paths, a good marketing strategy can do the same for your business or project. It provides you with a framework for understanding what works, what doesn’t, and where you need to focus your efforts for maximum impact. In essence, it’s like a personalized feedback loop for your efforts.

    Marketing Strategies in 2023-2024

    There are a plethora of strategies that beginners can leverage, which go beyond understanding your audience, content marketing, and social media.

    You’re writing a research paper, you need to understand your subject in depth. In marketing, your subject is your potential customers. Who are they? What do they need or want? Answering these questions allows you to tailor your efforts to the people most likely to engage with your brand or product.

    Content marketing is another strategy that’s just as relevant for marketers as it is for students. When you’re writing essays, you’re trying to engage your reader, communicate a message, and persuade them to see things from your perspective. The same applies to content marketing. You’re creating and sharing valuable content that attracts and retaisn an audience. And ultimately, it drives profitable customer action.

    Social media marketing is also a must-consider strategy. With so many people active on various social platforms, it’s an excellent avenue to reach a broad audience, much like a presentation in a large class. It allows you to engage directly with your audience and build a community around your brand.

    Email Marketing is another powerful tool that shouldn’t be ignored. It’s like the academic advisor’s regular updates for a student – direct, personalized, and informative. With a compelling subject line and an engaging message, you can build relationships with customers, promote your brand, and boost sales.

    Last but not least, Influencer Marketing has been a game-changer. By partnering with influencers, brands can leverage the trust and authority these individuals have built with their audience. It’s like a respected student leader endorsing a club or event on campus. What does that mean? Their word carries weight.

    Choosing a Strategy

    Actually, you don’t always get the answer right on the first try. And that’s absolutely okay. The important part is to learn from it, just like getting feedback on an essay. So test out different strategies, analyze the results, and then refine your approach based on what you learn.

    Besides, you shouldn’t adopt a strategy without considering your resources. This includes your team’s skills, budget, and time. Not every strategy requires a big budget. But of course, each one requires an investment of some sort.

    By the way, you need to know your customers inside and out, what they need, what they want, and how they communicate. This knowledge will help you create a message that resonates with them and choose the right channels to deliver it.

    Picking the right strategy is a continuous process that involves three main elements. They are learning, adapting, and evolving. But you’ll be well on your way to success with:

    • a clear understanding of your audience
    • a realistic view of your resources
    • a commitment to learning
    • a willingness to seek help. 

     

  • DHL tops up with Turkish Cargo in Istanbul

    DHL tops up with Turkish Cargo in Istanbul

    DHL Global Forwarding is strengthening its air cargo partnerships in Istanbul and has signed a memorandum of understanding that will extend its operations at Turkish Airline’s modern SMARTIST cargo facility.

    Turkish Cargo supports DHL forwarding unit’s global hub concept with its vast knowledge and advanced operational capabilities at Istanbul Airport.

    Based on the MoU, DHL Global Forwarding will leverage SMARTIST, the mega cargo facility of Turkish Cargo at Istanbul Airport, as one of its global hubs. DHL said the cooperation will not only further improve each other’s operational efficiency, but also enhance Istanbul’s potential to become a leading logistics hub for the world. The two inked the deal at the IATA World Cargo Symposium held in Istanbul in April.

    “Spanning the European and Asian continents, Türkiye is geographically well-positioned to act as a logistics hub for Europe, Asia as well as the MEA region and the US,” said Thomas Mack, Global Head of Air Freight, DHL Global Forwarding

    “We are happy to intensify our long-lasting partnership with Turkish Cargo, that not only provides us with reliable air cargo capacity, but also state-of-the-art logistics infrastructure to handle air freight,” he added.

  • Milkybar teams up with Milo for a crispy white chocolate

    Milkybar teams up with Milo for a crispy white chocolate

    First there was Dolly Parton and Kenny Loggins. Next came David Bowie and Mick Jagger. Now, at long last, we have Milo and Milkybar. Ok so some collabs are more memorable than others but the joining of two beloved Australian icons has got to be one of the best so far.

    Milo and Milkybar is the latest mash-up of sweet treats, with the creamy smoothness of milk chocolate plus crunch from Milo chunks. It’s giving frantic spoonfuls of extra Milo powder in your milk before your mum comes back into the kitchen. But now we’re adults and can do what we please.

    Nestle head of marketing, Melanie Chen said of the hottest power couple we’ve seen in years, “When news of Milkybar Milo was leaked, the anticipation from the Australians in-the-know has been extremely positive. We can’t wait to see the reactions when they actually experience it!”

  • Alleged Foxconn employee reveals three possible colors for non-Pro iPhone 15 line

    Alleged Foxconn employee reveals three possible colors for non-Pro iPhone 15 line

    The possible Foxconn employee’s Weibo post, when translated, says “Our workshop is a 15 ordinary model with an extra Green, light Yellow, and Pink to make it look better and a c port  is added to the smart island.” The post seems to have lost something in translation, but we can assume that what the post says is that Foxconn is working on the iPhone 15 in additional Green, light Yellow, and Pink. Two new features are observed on the upcoming basic iPhone model, the USB-C port and the Dynamic Island.
    Foxconn is the contract manufacturer hired by Apple to assemble many of its devices including some iPhone models. Several leaks about upcoming Apple devices are supposedly leaked by employees working with such contract manufacturers as they might know intimate details of these devices seeing as their job is to assemble them all day.
    We’ve seen plenty of rumors about possible colors for the iPhone 15 and iPhone 15 Pro models during the last few months and nearly all of them mention a Pink color option for the iPhone 15 and iPhone 15 Plus.
    Now that we’ve translated the Google Translation, let’s talk about some of the other new features coming to the non-Pro iPhone models this year. We can start with the 48MP image sensor that will back the Wide camera on both the iPhone 15 and iPhone 15 Plus. Both devices will also get a hand-me-down chipset as the 4nm (which is really an enhanced 5nm process node) A16 Bionic will be powering these units after driving the iPhone 14 Pro and iPhone 14 Pro Max. Larger batteries are also rumored to be onboard.
    The iPhone 15 Pro models will feature a titanium chassis, the 3nm A17 Bionic SoC (making them the only phones to use a 3nm chipset this year), larger batteries, and the aforementioned USB-C port. The iPhone 15 Pro Max should be equipped with a periscope lens making it the first iPhone ever to have this feature. Optical zoom on the unit will go from 3x to 5x-6x thanks to the periscope lens which will be exclusive to the top-of-the-line model.
    We expect the iPhone 15, iPhone 15 Plus, the iPhone 15 Pro, and the iPhone 15 Pro Max to be introduced in early September.
  • Wi-Fi is old school; get ready for faster, more secure Li-Fi

    Wi-Fi is old school; get ready for faster, more secure Li-Fi

    Wi-Fi might be on the way out even though Wi-Fi 7 is on the way in. The IEEE standards body that oversees Wi-Fi has released the IEEE 802.11bb light communications standard that will cover the emerging Li-Fi technology. Instead of using wireless network signals, Li-Fi uses invisible (to the human eye, anyway) infrared light to deliver light-based wireless optical connectivity at speeds up to 100 times faster than Wi-Fi.
    Light can deliver signals free of radio interference and Li-Fi already has a competing standard, the International Telecommunication Union’s G.9991. The Verge notes that this standard is used with data-beaming bulbs from Signify. Another company called pureLiFi released the Light Antenna One system in February which already meets 802.11bb standards. This is a module that could fit into smartphones and the manufacturer claims that it can deliver data speeds exceeding 1Gbps.
    However, Light Antenna One is rated to communicate with devices less than 10 feet away and when transmitting back it has only a 24-degree field of view. Still, the manufacturer of the Light Antenna One says that it is ready “to enable mass integration of Li-Fi for the first time.” Despite the 1Gbps claim from pureLiFi, download data speeds for Li-Fi are said to be as high as 224Gbps which tops the average 40Gbps download speed expected for Wi-Fi 7.
    Some of the advantages of Li-Fi includes better security as signals are less likely to leak through walls. Li-Fi transmitters can be easily installed in light fixtures used in offices, and Li-Fi’s higher data speeds certainly would deliver the fast connectivity that Augmented Reality, Virtual Reality, and gaming devices could benefit from. And besides the faster download speeds, Li-Fi promises to deliver low latencies.
    This is just the beginning of Li-Fi and in a few years, we might be talking about the technology with the same familiarity we use when talking about Wi-Fi.
  • iPad Air with boosted specs is apparently right around the corner

    iPad Air with boosted specs is apparently right around the corner

    The current iPad Air came out in March 2022 and Apple is already contemplating a new model for this year, per Bloomberg journalist Mark Gurman.
    In the latest edition of his weekly Power On newsletter, Gurman says that Apple could announce the first Mac computers with the rumored M3 chip in October. He thinks Apple could reveal a new iMac, 13-inch MacBook Air, and 13-inch MacBook Pro in October.
    He also says that Apple is working on a new iPad Air model. He didn’t go into the specifics and only revealed that the model could feature boosted specs. He had previously said that the spec bump would be minor.
    The iPad Air 2022 has a 10.9 inches LCD screen, the M1 chip, and single main and front-facing cameras.
    If we were to speculate, we’d say that the new iPad Air will have the M2 chip that powers the iPad Pros and maybe a Thunderbolt port.

    Gurman has also said that Apple is unlikely to reveal new iPad Pros this year. Instead, the next iteration will probably arrive next year. The 2024 iPad Pros are rumored to have OLED displays and will allegedly be powered by the M3 chip.

    As for the M3 chip, it will be based on TSMC’s 3nm process, which would make it more powerful and power efficient than the M2, which is already insanely fast. The fabrication process allows for a higher-density chip, enabling manufacturers to fit more cores into a processor.
    It’s not clear whether these October products will be announced through a press release or if Apple will hold a dedicated event for them.
    Before that, in September, the company is expected to reveal the next crop of iPhones: iPhone 15, 15 Plus, 15 Pro, and 15 Pro Max. Like the M3 chip, the Pro model’s A17 chip will also be manufactured on the 3nm node.
  • YouTube announces quiz posts are coming to iOS and Android devices

    YouTube announces quiz posts are coming to iOS and Android devices

    After spending several months in beta, the option to create quiz posts in the Community tab is finally rolling out to everyone on Android, iOS and the web. YouTube confirmed earlier today that quiz posts are launching to all devices where Community posts are supported.

    This means that creators with access to the Community tab will now be able to create quizzes and viewers on Android and iOS devices can engage with them. Here is how you can add a quiz to your post:

    • Enter a question in the text field.
    • Enter answers in the “Answer” fields. Answers can be up to 80 characters each.
    • If you need more answer fields, tap Add answer. You can have up to 4 answers.
    • Select the correct answer. You can add an optional explanation for why this is the correct answer in the text field. Explanations can be 350 characters max.

    It’s important to mention that you can only have one correct answer on these quizzes, which makes perfect sense if you want to use these as educational tools.

    The announcement comes days after YouTube confirmed that it has started testing AI-generated quizzes on mobile. A small number of YouTube users are now part of an experiment that shows AI-generated quizzes on their Home feed. Of course, there’s no telling when these AI-generated quizzes will be made available for everyone nor if YouTube plans to really go ahead with this controversial feature.

     

  • Thai AirAsia back flying to Colombo

    Thai AirAsia back flying to Colombo

    AirAsia Thailand (FD) celebrated its inaugural flight, Sunday, flying from Bangkok (Don Mueang) to Colombo, the capital city of Sri Lanka.

    Operating the direct flight four times a week (Monday, Wednesday, Friday and Sunday) the low-cost airline uses an A320 on the route with 180 seats.

    FD140 de departs Bangkok Don Mueng Airport (DMK) and 1945 and arrives in Colombo at 2200. FD141 departs Colombo at 2300 and arrives in DMK at 04005 on the following morning.

    Booking website Kayak quotes a one-way Bangkok (DMK)-Colombo (CMB) on AirAsia at USD107. Roundtrip fares between the two cities average USD470 based on prices quoted by Thai Airways International and SriLankan flying between Bangkok (BKK) and Colombo (CMB) is more than double AirAsia’s roundtrip fares (DMK-CMB).

    Sri Lanka is a major destination for Buddhist faithful from across the globe as it is home to numerous well-known religious locations, many registered as World Heritage Sites, the best known of which is the Temple of the Sacred Tooth Relic in the city of Kandy.

    Other attractions include the forest-enveloped Sigiriya, often called the Machu Picchu of Asia due to its remote location. For other leisure seekers, Sri Lanka offers pristine nature experiences along the train route from Kandy to Ella, considered one of the most scenic train rides worldwide as it carves through valleys and tea fields. Tourists are usually drawn to the Ceylon tea plantation to learn about the process and enjoy a cuppa. Dimah is the most famous tea brand and offers tours with a tasting session at the plantation’s estate in the hill country of Nuwara Eliya.

    Marking the resumption of the route post-pandemic, AirAsia offers a promotional fare from Bangkok (Don Mueang) to Colombo, Sri Lanka, pegged a THB2,990 one-way (USD85). Bookings are open until 16 July 2023 for travel from 9 July to 28 October 2023 via the AirAsia Superapp.

  • Middle-aged workers struggle finding new jobs after layoffs

    Middle-aged workers struggle finding new jobs after layoffs

    Thanh Tung thought his job interview went well and his unemployment would finally end, but he was eventually turned down for the position because he was “too old.”

    The 37-year-old game artist in Go Vap District, HCMC was laid off at the beginning of the year, only a few months after he started working for a game design company.

    He was disappointed, but he didn’t feel rushed and pressured because he still had savings and income from his freelancing jobs, which he thought would be enough to cover his living expenses until he found a new job.

    But finding work was not as easy as he thought.

    After three months of job searching, he’d been able to land only a few screening calls and no potential employer had wanted to make an interview appointment with him. Compared to that, around 60% of the companies he applied to last year scheduled interviews with him.

    When he eventually got an interview with a game company, he was turned down because of his age. The chief marketing officer of the company, who was 27, said people of Tung’s age might “be stubborn and find it hard to adapt.”

    He disagreed with this comment, explaining that he was always willing to improve himself, and he could prove that during a probationary period, to which the interviewer said: “You seem to disagree with a lot of things we have discussed throughout our interview. I’m afraid that if we work together, you will not follow my orders.”

    Tung gave up. He now believed in age discrimination at the workplace. And future experience only confirmed things further.

    “Then I got a phone call from a friend of mine who was working as a headhunter,” he says. “That friend saw my profile and confirmed that my age was preventing me from getting called for interviews.”

    Many middle-aged workers are struggling to find jobs. Tra My, a former construction engineer, said she felt hopeless as she had been unemployed for over six months and had to attend a job fair as one of her many efforts to find a career opportunity. She also said she was learning a foreign language and studying software at age 45, hoping that doing so would increase her chances of finding a job.

    Van Quang, 53, was working as a delivery man for a third the salary of his previous job as a warehouse supervisor at a Hanoi-based supermarket. He chose the path after repeated failed attempts looking for vacancies similar to his former positions.

    Thanh Hien, 45, said that all of the job announcements she came across were looking for applicants under 35 only.

    Hien had never thought she would have to search for a job, as she had always worked at a state-owned company. But in March, her employer’s business problems forced Hien to get laid off.

    Hien tried to bargain by offering to cut her salary down to VND5.6 million (around $237), a third of what it had been.

    “But the company insisted on cutting down on middle-aged workers,” she recalls. “They asked me to sign another contract, in which my position was changed from an accountant to housekeeping staff.”

    Hien told the company she would consider the offer. She hadn’t even given her final decision yet when the company informed her they would lower her salary from VND5.6 million to VND4.9 million. She had no other choice than to quit.

    Age is one of the strongest barriers for those working in Vietnam. Among the job announcements by the 36 companies at the fair, 41% of them targeted the 18-25 age group and 35% targeted the 26-35 age group, compared to 24% targeting the 36 and over age group.

    There have been ongoing factory workers layoff in southern Vietnam, starting late-2022. According to data, the majority of the workers laid off were middle-aged females. For example, over 50% of those laid off at the HCMC-based company Pouyuen were over 40 and around 60% of them had worked at the company for at least 10 years.

    Responding to a survey conducted late-June, as many as 90% of the respondents answered “Yes” to the question: “Do you think workers aged between 35 and 40 in Vietnam struggle to get a job?”

    Pham Minh Huan, former deputy minister of Labor, Invalids and Social Affairs, considers age discrimination at workplaces a downside of the market-oriented economy, in which businesses have to optimize their human resources to maximize their productivity and minimize their costs, which in turn makes aged low-skilled workers the first target to be laid off.

    “Aged workers tend to have lower productivity while requiring higher salaries,” Huan explains. “Businesses that revolve around financial reward are likely to lay this group of workers off, even if they have contributed to the company for a long time.”

    Nguyen Phuong Mai, former CEO of Navigos Search, a recruiting service in Vietnam, says employing middle-aged workers has both strengths and challenges. On the one hand, employers don’t have to spend too much on training costs and could be able to make use of these workers’ experience. On the other hand, middle-aged employees may be less creative, less flexible, less familiar with technologies, and less likely to blend in with co-workers of younger generations.

    Mai says a story which she will never forget: “I once worked with an outstanding applicant who met all of the requirements that the company was looking for.”

    “But he still got turned down, as throughout his whole career up until that moment, he had worked for one company only, which was considered a sign that it may be hard for him to adjust and adapt.”

    Experts suggest that workers have to constantly improve their skills and be ready for every possible scenario regardless of their age, in order to be able to grab opportunities that come to them.

    Huan also says the government should create a varied labor market, so that middle-aged people could change their jobs more easily if they are laid off.

    He suggests businesses appreciate workers that have dedicated their youths to the companies and treat them with respect, including avoiding sudden layoffs without any kind of compensation.

    “Middle-aged people may find it challenging to start over, but that doesn’t mean it’s impossible,” he says.

    Tung’s recruiter friend pointed out things he needed to change in his Curriculum Vitae, including removing his year of birth and irrelevant degrees while emphasizing more his practical skills.

    He was also suggested to reply “I want to be an employee till I retire” when interviewers asked about his career goal, instead of showing his determination to achieve a leading position.

    Tung indeed got more calls for interviews after adapting his application documents based on his friend’s suggestions. His unemployment period ended in May. He now works for a foreign company that he says “values skills over age.”

    Hien is still looking for a new job. She says if things do not work out, she will consider lowering her requirements regarding salaries and benefits.

  • Australia, Germany replace Japan as Vietnamese’s labor hot spot

    Australia, Germany replace Japan as Vietnamese’s labor hot spot

    Tu worked in Japan for two years but left when the devaluing yen lowered the value of his savings, which he intended to use back home in Vietnam

    He eventually set his eyes on Germany.

    The reasons were quite simple: Germany was experiencing a lack of labor resources and was employing measures to attract more foreign workers, including more open visa policies and attractive salaries.

    As Germany’s labor minister Hubertus Heil said earlier this year, the country would lack around 7 million workers by 2035 “if we don’t do something.”

    So Tu was there ready to answer the call. “This time I want to challenge myself in Europe,” he said.

    The 30-year-old man was one of many Vietnamese workers who left Japan after finding their earnings there not attractive anymore. It was essentially a double consequence of the dropping value of the yen and rising inflation.

    Inflation in Japan hit a 40-year-high last October, and consequently, the price of everything from fuel to food rose, and many people could not afford essentials in their daily lives, reported Reuters.

    But rarely are workers who’ve returned home from Japan satisfied with their earnings in Vietnam either. Instead, they are now often opting to relocate to Europe or Australia, which are both taking bold government steps to compensate for their lack of workers

    Tu didn’t allow any delays in his plan. He started learning German as soon as he returned to Vietnam from Japan.

    He spent around eight hours a day studying the language and managed to acquire a German B1 certificate, then a German training visa, which allowed him to enroll in a three-year vocational training course in the country, as well as be eligible to stay for another two years after his course completion.

    He relocated and became one among about 1.25 million foreigners with such a visa in Germany, according to data provided by the German Federal Statistical Office.

    According to him, the agency he hired to assist him in his visa application procedure told him that they had assisted 100 Vietnamese people relocate to Germany this year, an increase from only around 20 last year.

    After working in Germany for a while, Tu said that it wasn’t only the financial earnings, but also the benefits offered to migrant workers that are more attractive in Germany compared to Japan.

    “I had to work between 11 and 12 hours a day when I was in Japan, compared to only eight hours a day, five days a week here,” he explained, adding that he could arrange his schedule and work in other restaurants during his days off to make extra money.

    Similar to Germany, Australia is a destination that many Vietnamese workers are interested in. Businesses in Australia are receiving hundreds of applications from Vietnam and other Asian countries a day.

    Duy Nam, a manager at a meat processing company in the Australian town of Broome, said he received hundreds of emails and text messages a day asking about the Australian visa application procedure. His own younger brother was contemplating immigrating to Australia as a migrant worker as well.

    He attributed the growing popularity of Australia among Vietnamese workers to the shortage of domestic workers, which was partly caused by the country’s lockdown during the peak of the pandemic.

    Now that the pandemic is under control, the Australian government is doing its best to attract foreign workers. It now grants the subclass 462 visa (also known as the Work and Holiday visa), which allows its holders to work during their stay in Australia, to up to 1,500 people a year. And the visa application procedure has shortened from a year to a couple of months or even weeks.

    Lightening immigration policies is not the only recent boon for migrant workers in Australia. Workers’ average hourly rate in Australia was A$27 (around $19) before the lockdown, but rose to A$55 during the peak of the pandemic. Because of that, earning an attractive income of as much as A$10,000 a month became possible for Vietnamese migrant workers.

    Compared to that, Vietnamese workers in Japan can only save “between VND12-16 million (around $507-$677) a month, compared to VND20-25 million before,” said Tien Thanh, 24, initially planned to migrate to Japan and work as an electrical appliances technician, but was discouraged by his friends.

    He then changed his mind and moved to Australia, which took him six months and four failed attempts to finally do.

    After reaching the country, he started looking for jobs with the help of social media, and was offered work on a farm in northern Australia a week after arriving in the country.

    “There are a total of around 200 people working in my farm, of which as many as 47 are Vietnamese.”

    Thanh is satisfied with his current monthly income in Australia. He earned the equivalent of VND24 million his first month, but after getting more familiar with the work, now he can earn more and save around VND70 million a month.

    Based on his calculations, he’ll be able to pay back the VND300 million his family borrowed to help send him to Australia, in half a year, and then save enough money to get his own house in Vietnam after three years.

    As attractive as the idea of working in Australia and European countries is, both Tu and Thanh warned those who are interested in it about the risk of being scammed.

    “I know this guy from Ha Tinh province who sold his house for $30,000 to pay an agent,” Thanh said. “Only after arriving here did he know he had only obtained a travel visa, and was not eligible to work.”

    Tu added that the German visa application procedure consists of many phases and requires a lot of documents, so applicants should be cautious if agencies they work with treat it lightly.

    “There are agencies that send people to remote areas without helping them find jobs, so you should be careful,” he said.

    Still, those who managed to leave Japan and come to countries that offer more competitive rewards seem optimistic about their future.

    “Even if I don’t get a permanent residence, I can still come back to Vietnam and work well with the experience and knowledge I gained here [in Germany],” Tu said.

  • Rice export prices reach 10-year high

    Rice export prices reach 10-year high

    The global decline of the rice supply and the impact of El Nino climate pattern have led to a sharp increase in the price of rice for export.

    Latest data from General Department of Vietnam Customs shows that in the first half of the year, rice exports reached more than 4.2 million tons and are valued at $2.26 billion, up over 21% in volume and 32% in value over the same period last year.

    The export price of rice in June reached an average of $650 per ton, up 9.4% compared to May and 20.8% higher than the same period last year.

    In the first six months of 2023, the export price of rice is estimated at $539 per ton, up more than 10% over the same period in 2022 and the highest of the past 10 years.

    According to the Ministry of Agriculture and Rural Development, the reason for the sharp increase is the decrease in supply. The emergence of El Nino has also forced many countries to increase rice purchases to stock up.

    The Philippines’ Department of Agriculture forecasts that El Nino will return and severely affect their domestic food production. Indonesia predicts that it may cause widespread drought in the country, so the July-August harvest for agricultural products may drop significantly.

    In the first five months of the year, rice exports to the main markets – Philippines and China, both grew strongly at double digits. In addition, rice exports to new markets such as Indonesia, Chile, Turkey, and Senegal recorded a surge from 1,100-16,000% over the same period last year.

    Bloomberg reported this week that the Indian government is banning the export of all rice that is not Basmati (a popular rice in South Asia), as prices have been on the rise and they want to control inflation.

    Retail rice prices in New Delhi have increased by 15% this year, while the domestic average price has increased by 8%, according to India’s Ministry of Consumer Affairs, Food and Public Distribution.

    Vietnam Food Association and enterprises believe that if this ban is implemented, global rice prices will increase. In the near future, Vietnamese rice will not only benefit in price but also be favorable for exports.

    An enterprise based in Can Tho in Vietnam’s Mekong Delta said that export orders were abundant and the price of fragrant rice was increasing the most. This enterprise does not even have enough supply to meet the orders. It is forecast that the rice export market in the second half of the year will reach a peak value.

    To ensure domestic and export demand, the agriculture ministry has directed key rice production areas, especially the Mekong Delta, to actively cultivate and prioritize short-duration rice varieties as well as high-quality and fragrant rice varieties suitable for market demand.

    Vietnamese rice has been exported to 156 countries and territories, including many high-end rice markets.