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vietnam investments sept 10

VIETNAM
Investment
September 10, 2007
Foreign employment cap may be removed
Vietnam is likely to relieve the foreign employment cap of three percent in domestic firms, local newspaper Vietnam Investment Reviews reported Monday.

According to a draft decree made by the Vietnamese Ministry of Labors, Invalids and Social Affairs, the country will license foreigners to work in the posts in local companies that Vietnamese employees are not able to do.

Local firms will have to publicize their staff recruitments before employing a foreigner, the draft said, noting that the ministry's departments will consider licensing foreigners to work in a local firm within 15 days.

Foreigners who work in Vietnam less than three months, owners of limited liability companies, shareholding firms' management board members, and lawyers who have received work license from the Vietnamese Ministry of Justice are exempt from getting a work permit. Xinhua reports

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