More than 29,000 businesses have had to suspend operations in Vietnam in the first half of 2020, reported the General Statistics Office of Vietnam.
How much are individuals and businesses being taxed in South East Asia? Read more to find out how much tax different countries are imposing.
Bangkok-based Infofed will use a new injection of funds to expand its presence in Southeast Asia and spark job creation.
The Southeast Asian economy has grand plans to raise its retirement age, allow trade unions and become a leading innovation centre.
As the biggest benefactor of the US-China trade war, Vietnam is feeling the squeeze as companies open manufacturing plants in the country.
The two ASEAN economies both want to woo companies away from China amid its political and economic tensions.
Many say the minimum wage in Vietnam should rise this year, but there is dispute about how much of a jump can be afforded.
With more firms expected to relocate from China to Vietnam this year, there will likely be strong demand for labour in the latter.
Labour costs in Vietnam are among the highest in Southeast Asian countries, and poses the largest investment risk in the country.
The retirement age for male and female workers could increase from 60 and 55 at present to 62 and 60 respectively from 2021.
Most Vietnamese workers want to switch jobs in 2019 due to a lack of career advancement, according to a survey.
Compared to Taiwan and the Middle East, a Vietnamese worker earned more working in Japan and South Korea in the 2010-2017 period.
Vietnam has shown to be promising for expats who are seeking both opportunities and challenges to boost and develop their careers.