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Vietnam at a Glance

Vietnam: Job Market and Social Security

Ho Chi Minh City, also known as Saigon, is a popular expat destination.

Job Opportunities for Expats

As mentioned before, Vietnam’s economy is mostly based on the export of goods, and many expatriates find work in this booming sector. If you are looking to export Vietnamese products, your chances of finding work there are quite high.

However, professions in the services sector, especially banking and tourism, offer lots of work opportunities as well. What is problematic, though, is that job access can be difficult at times as you are required to be rather highly qualified. The language barrier can be an issue as well. While English is spoken widely in Vietnam’s business world, some business partners may only understand Vietnamese.

Many foreigners who have come to Vietnam to work were hired as English teachers in the past. After all, English teaching jobs are widely available in Vietnam and also generously paid. In the past, virtually anybody was able to teach in Vietnam. Now, the government has implemented restrictions that require language schools to do a background check before hiring teachers. Despite these stricter rules, quality teachers in different fields are still more than welcome. IT and language teachers are in high demand as well.

At the end of the day, what matters is that you are creative, persistent and willing to jump a few hurdles.

Social Security Contributions

In Vietnam, all people who work in the private or public sector and have a contract for 3 months or more receive social security coverage, including domestic workers. If you are self-employed or do not have compulsory coverage, you can opt for voluntary coverage instead. The percentage of your monthly salary that you have to put into social security is as follows:

• Insured people: 6% of their gross monthly income (rising up to 8% in 2014)
• Self-employed people: 18% of their earnings (rising up to 22% in 2014)
• Employer: 12% of the monthly payroll (rising up to 14% in 2014)

The minimum earnings commonly used to calculate your contribution are equal to the amount of the minimum wage (730,000 dong per month).

Social Security Services

You are eligible to receive old-age pension in Vietnam from the age of 60 (men) or 55 (women) if you have contributed for at least 20 years. If you have faced dangerous or hazardous working conditions which may have affected your health significantly, you may retire early. The same is the case if you are dealing with disability.

Other social security services include sickness, maternity and work injury benefits among others. The organization which is responsible for the administrative process and for the implementation is called Vietnam Social Security. The Ministry of Labor, Invalids and Social Affairs is responsible for the general supervision.

Business Etiquette

As in any foreign country, understanding business etiquette is essential. Business relationships take some time to develop and usually remain formal. So make sure to be patient when doing business in Vietnam and try to stick to a few rules:

• Don’t get loud or use excessive gestures as this is considered incredibly impolite.
• Business cards are a must. Make sure to have one side printed in English and one in Vietnamese. Present them with both hands and the Vietnamese side up.
• Always be punctual, as this is valued highly. If you realize that you are running late, call your business partners and let them know.
• Do not refuse tea or coffee if it is offered to you.
• Try not to publicly criticize your colleagues or business partners as this would cause both of you to lose face.
• Don’t touch other people’s heads. It used to be considered their spiritual center or seat of their soul. Such a gesture – even towards a child – will still be seen as rather rude.