Vietnam salaries cheapest in region for investors: Report

Corporate spending on wages, land rent and power in Vietnam last year was lower than in other countries in the region, a Japanese trade report said.

Japanese businesses paid workers in Vietnam an average US$95 per month compared with $131-286 per month for workers in other countries, according to the Japan External Trade Organization (JETRO) report.

The report which compared costs in 30 cities and regions in Asia in 2008, said water costs and leasing industrial land in Vietnam were very cheap while office rents were high. Its telephone charges were the lowest in the region but Internet connection fees were far higher than those of neighboring countries such as China, Thailand and Indonesia.

JETRO said the advantages were important for Vietnam to attract more foreign investment but the country should further improve the labor quality, legal transparency and reform administrative procedures to reduce “indirect costs” to investors.

thanhnien, tt

>   VimpelCom may develop Asia expansion to tap growth (08/06/2009)

>   Returning migrants exert ‘pressure’ on rural areas (08/06/2009)

>   Vietnamese footwear exports to Spain increase (07/06/2009)

>   New measures to speed up WB-funded ODA projects (06/06/2009)

>   Vigilant IT risk systems are needed to police banking (06/06/2009)

>   Trade in building bids leads to shoddy work (06/06/2009)

>   VN exports lead way in Asia (06/06/2009)

>   High goals set for cacao farming (06/06/2009)

>   Farm produce exported to China forecast to decrease (06/06/2009)

>   Many enterprises to receive first Vietnam Golden FDI awards this August (06/06/2009)