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Private sector needs most labor

Update: October, 23/2017 - 08:40
A job fair at Saigon Hi-Tech Park in HCM City. Photo
Viet Nam News

HCM CITY — The demand for human resources in HCM City is forecast to rise 2-3 per cent annually to reach 4.61 million labourers by 2020 and 5.34 million labourers by 2025, according to a report from the HCM Centre for Forecasting Manpower Needs and Labour Market Information.

Private enterprises, especially small- and medium-sized enterprises, which play a major role in economic growth, have the highest demand. They are expected to require 1.87 million jobs this year or 66.9 per cent of the city’s total employment, the report showed.

Private companies are expected to generate 2.06 million jobs by 2020 and 2.4 million jobs by 2025.

Foreign direct investment (FDI) enterprises will need 776,000 labourers this year, accounting for 27.2 per cent of the total employment, and 926,000 labourers by 2020 and 1.22 million by 2025.

FDI enterprises play an important role in technology transfer and generate financial resources for infrastructure development.

Employment demand in state-owned enterprises is expected to decline due to restructuring of state-owned enterprises and equitisation, from 196,000 labourers or 6.9 per cent of the total demand this year to 183,000 by 2020 and 135,000 by 2025.

While the service sector accounts for 67 per cent of total recruitment demand, the industry and construction sectors represent 31 per cent and the agricultural sector 2 per cent of demand.

The labour market will require more highly skilled workers because of country’s membership in the ASEAN Economic Community (AEC) and signing of free trade agreements, as well as possible membership in the Trans-Pacific Partnership (TPP).

In the 2017-2020 period, more than 300,000 people are expected to look for employment in the city each year.

There will be around 270,000 jobs available in the city each year in the same period, including 130,000 new jobs. — VNS


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