According to a study conducted by the Ministry of Planning and Investment, the EVFTA is poised to create an additional 146,000 jobs each year, with the majority focusing on labour-intensive industries that enjoy high export rates to the EU, including garment and textiles, leather and footwear, and aviation transport. The Multilateral Trade Assistance Project (MUTRAP) believes that aside from increased job opportunities, Vietnamese workers will be granted the chance to play a part in a wider job market and enjoy ways in which to improve their skills. Despite these benefits, the MUTRAP recommends that the EU enforce stringent requirements based on product quality and production processes, which in itself will impose pressure with regard to labour competition on local enterprises as they seek higher-quality human resources as a means of meeting strict requirements. Most notably, challenges in terms of high quality and skilled human resources remain a thorny issue for both domestic firms and foreign-invested businesses in the country. Luu Thi Thu Huyen, CEO of Blue Sea, says the company plans to approach a number of markets within the EU as soon as the novel coronavirus pandemic subsides, noting that the workforce should be carefully chosen to ensure that strict… Read full this story
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