Vietnam is expected to have a 5.1 percent increase in salary in 2020 (Photo: VNA)
Bangkok (VNA) - Vietnam leads Southeast Asia in termsof salary growth with a 5.1 percent increase expected in 2020, according to areport by ECA International.
Meanwhile, Thailand is among the top five economies in the worldto see real salary increases as productivity grows. The country is likely to seea real salary increase of 4.1 percent in 2020, up from 3.9 percent in 2019.
The average real salary increase in Singapore is forecast at 3percent in 2020, down from 3.3 percent in 2019, which is above average inAsia-Pacific and more than double Hong Kong's rise of 1.4 percent. India willagain see the highest real salary increase in Asia, predicted to be 5.4 percent.
The average increase in real terms in Asia-Pacific is forecastat 3.2 percent. India took the top spot, followed by Vietnam, Indonesia,Cambodia, then Thailand.
Workers in Vietnam and Thailand will both see further increasesto their salaries as the nominal salaries expected to be given by employersstay well ahead of the low levels of inflation that these countries will see in2020, Lee Quane, Regional Director of Asia at ECA International, was quoted bythe Thai media as saying.
Lee said this has been a long-term trend for both countries, asproductivity continues to grow and inflation is controlled.
Asian nations lead the way again for salary increases with 13out of the top 20 hikes in real salaries and the entire top five in the globalrankings.
In China, the real salary increase is again expected to be abovethe regional and global average at 3.6 percent.
However, not all in emerging Asia will benefit from anabove-average salary rise after inflation. Workers in Malaysia are expected tosee a big drop in their real salary increases compared with previous years, to2.9 percent from 4 percent in 2019./.
The Government needs to establish a national strengthening productivity committee to better labour productivity, thus promoting the economic growth, said Director General of the General Statistics Office of Vietnam Nguyen Bich Lam on August 7.
The reduction of working hours from 48 hours per week to 44 hours will create difficulties for textile and garments enterprises, according to one leading expert.
The Vietnam Airlines Corporation has decided to increase the salary of pilots on Boeing B787 and Airbus A350 by 22 percent, nine months ahead of schedule.
Hiring employees based on their potential will be important in the new economy, according to an annual whitepaper report published by Robert Walters, an international recruiting firm.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
Vietnam is expected to have a 5.1 percent increase in salary in 2020 (Photo: VNA) 
