Should we attract foreign investment at any cost? (15/01)
06/08/2010 - 31 Lượt xem
| China’s labor law has been amended in an attempt to improve the lives of local laborers. |
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One Vietnamese media outlet has predicted this new law will result in more foreign investment pouring into Vietnam. A local newspaper recently claimed that in the event of a conflict between foreign companies and their laborers, Vietnam's laws had a “bad reputation” for favoring the workers. The paper, however, couldn't provide any examples of this “preference”. There's no doubt however laborers will always take a harder hit in any conflict than their foreign bosses. Some laborers' benefits have been ignored as our country tried to attract as much foreign investment as possible. For example, local laborers are poorly paid as a result of the mini-mum wage regulations for foreign company employees. China previously allowed its laborers to earn low wages in order to attract foreign investors. But when “low-cost manpower” was no longer a competitive advantage, the Chinese government amended labor laws to protect laborers. The new labor laws may initially repel some foreign investors. But in the long term, China will benefit from its effort. First, its amended law will be backed strongly by workers. The Chinese laborers will keep their mind on their work, helping China create a skillful human resource. Then it will be able to attract its favorite kind of foreign investment. That’s also Vietnam's goal. Today is not the time for “luring foreign investment at any cost”. Vietnam should draw up strategies to train the local workforce and help laborers earn wages that match their capability. So I don't think we should sit around and wait for our neighbor's amended labor laws to drive more foreign investment into our country. |
