Pay raise chances slim for Vietnamese workers

TN News

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Workers in Vietnam are least likely to receive a pay rise over the next 12 months in Southeast Asia and the country continues to face several growth constraints, according to a new Grant Thornton survey.

Only 66 percent of Vietnamese businesses plan to raise salaries, compared to the regional average of 68 percent, the quarterly survey found.

The cost of finance has been cited as a major growth constraint by half of Vietnamese companies in the survey. The slowdown in global trade is also a major concern as local businesses struggle with a shortage of orders and reduced global demand.

Grant Thornton said business optimism slipped slightly in Southeast Asia in the second quarter. Globally, business confidence picked up slightly on the back of improvements in China and the US. Businesses in Vietnam are much less confident, with only 8 percent remaining optimistic about the economy, the report said.

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