Pandemic dulls outlook for pay hikes at Japan’s annual wage talks
Japan’s Business Federation says companies should have more financial leeway and pay hikes are unrealistic amid the economic uncertainty.
SMEs in Vietnam to benefit from broader access to soft loans
A strong, effective and sustainable lending mechanism is important to remove credit barriers facing SMEs.
Malaysia: Reskilling workers better strategy than wage subsidies
The government’s strategy to mitigate the effects of the pandemic should be to upskill or reskill workers instead of continuing to pay wage subsidies.
Japan government revises paternity leave to promote time off
The government has been encouraging men to take paternity leave, but the practice is not common in Japan, which suffers from a declining birth rate.
Malaysian MPs: Provide 6 months’ automatic loan moratorium
Twenty-five MPs have appealed to the government to implement six months of automatic loan moratorium to save jobs.
Hong Kong government plans to increase number of statutory holidays
Labour minister Law Chi-Kwong said the proposal to gradually increase the number of statutory holidays from 12 to 17 by 2030 is “most acceptable”.
Malaysia steps up delivery of Permai package
The Social Security Organisation (Socso) has committed to the quick implementation of the Permai financial package.
Japan’s largest business lobby sees blanket wage hikes as “unrealistic”
The priority should be to protect jobs rather than a uniform pay hike, it said as it unveiled guidelines to the upcoming wage talks.
Malaysia rolls out RM15 billion economic package
Initiatives include a one-off monetary assistance for taxi and bus drivers, and a special three-month electric bills discount for six business sectors.
India to launch seed fund for tech startups
Prime Minister Narendra Modi said the government will initiate a seed fund for startups of Rs10 billion (US$136.3 million).
Cambodia sees US$100 million co-financing scheme fund for SMEs fully subscribed
The average loan taken by SMEs amounted to US$122,514.
Thailand to roll out US$7 billion stimulus package
Finance minister Arkhom Termpittayapaisith has proposed for 210 billion baht (US$7 billion) to be given as cash handouts to individuals and companies.
Thailand approves more measures to soften COVID-19 blow
The measures include soft loans and lower utility bills, and aim to boost liquidity for businesses, provide debt relief and unemployment support.
South Korea launches third round of emergency cash reliefs
The finance ministry plans to hand out 4.1 trillion won (US$3.7 billion) in emergency cash to people affected by the third wave of the coronavirus.
Hong Kong incentivises companies to employ local graduates
Hong Kong’s government is offering companies a grant of HK$10,000 (US$1,290) for each recent college graduate they employ.
New loan guarantees provide Thai SMEs with more financial flexibility
The new loan programmes have a combined loan guarantee of 40 billion baht, and will be rolled out through six financial institutions.
Singapore enterprises received US$13.2 billion worth of loans in 2020
Enterprise Singapore (ESG) aided businesses by loaning S$17.4 billion (US$13.2 billion) last year, as many companies struggled because of the pandemic.
Funding from FDI to create high-skilled jobs in Malaysia
The government is partnering international venture capital fund managers to create jobs, said Malaysia’s finance minister.
South Korea to increase investment in startups in 2021
The Ministry of SMEs and Startups said the budget to support startups has been raised to 1.5 trillion won (US$1.4 billion) this year.
Cambodian government disburses US$23 million to unemployed workers
Workers who lost their jobs due to the closure of businesses in garment and textile factories, and the tourism industry will be able to receive support.
South Korea reaffirms pledge to create 150,000 new jobs in 2021
The government also plans to support smaller businesses, offer tax incentives to increase hiring, and support sectors that were severely retrenched.
New Zealand companies repay COVID-19 subsidies exceeding NZ$536 million
Prime Minister Jacinda Ardern spoke out against companies that benefited from the subsidies, yet handed out large bonuses in 2020.
Japan looks to implement more flexible paternity leave
The revised law would allow fathers to take a total of four weeks off, and give a shorter notice of their leave to their employers.
Cambodia subsidises garment, textile and tourism sectors
The government will continue to offer subsidies to the garment and textile industry, which accounts for 80% of the country’s exports.
South Korea approves 9.3 trillion won jobs package
Some 5.6 trillion won will be used for cash handouts to small businesses, temporary workers or freelancers, and taxi drivers.
Taiwan raises monthly minimum wage to NT$24,000 effective January
The wage hike is expected to benefit some 1,558,500 workers, which includes 1,097,700 Taiwanese and 460,800 foreigners.
Thailand relaxes rules on soft loans and mulls monthly long weekends next year
The Bank of Thailand (BoT) has further relaxed rules on a soft loan programme to help SMEs financially.
Employers of apprentices in Australia could receive A$4,000 of incentives
The government programme aims to support up to 80,000 additional apprenticeships over five years, particularly in industries with skill gaps to fill.
Japan looks to shorten restaurant operating hours through subsidies
The review of the law would allow the government to handout subsidies to bars and restaurants that shorten operation hours.
Malaysia disburses RM$12.6 billion in wage subsidies
The nation’s hiring incentive and training assistance programme has also helped 106,443 employees secure employment.