Vietnams labor market was severely affected by its recent anti-China riots, which left 60,000 local workers jobless as many foreign-invested factories were forced to shut down for an indefinite date, local media reported Tuesday. 
Vietnams labor market was severely affected by its recent anti-China riots, which left 60,000 local workers jobless as many foreign-invested factories were forced to shut down for an indefinite date, local media reported Tuesday.
Vietnams manufacturing hub, Binh Duong province, was among the worst-hit areas since the riots broke out earlier this month.More than 100 factories, most of whom belong to Chinese investors, were damaged to some extent.
Worse still, 12 factories were completely burnt down and 10 others partly destroyed, the online newspaper VNExpress reported on Tuesday, citing Bui Huu Phong, director of the provincial department of the Social Insurance Agency.
About 40,000 unemployed workers would get subsidies, while 20,000 others would receive a one-off compensation payment, Phong said.
Many foreign investors, mostly Chinese, said they would think twice about investing in Vietnam after the riots.
“I can only speak in a low voice. We called police, but it seemed they wont come very soon,” Wen Yong, a Chinese businessman in Vietnams southern Binh Duong province, told Xinhua last week as he recalled the horror on May 13 when the anti-foreign riot started.
Like Wen, who owns the Yong Hao Shoe Company in Vietnams southern Binh Duong province, many Chinese investors were severely affected by the riot.
The riots in central and southern Vietnam have tarnished the countrys image as a “safe investment environment”.
Chosen excerpts by Job Market Monitor. Read the whole story at 60,000 Workers Lose Jobs After Anti-China Riots in Vietnam.
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