High recruitment demands reported in manufacturing industry
High growth rate of the manufacturing industry in the first quarter of this year led to its rising recruitment demands.
According to Navigos Search’s Q1 2018 report, the recruitment demands in the manufacturing industry grew rapidly, accounting for up to 40 percent of the company’s total recruitment demands.
Manufacturing industry accounted for 40 percent of all recruitment demands
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The recruitment demands in the southern region also surged significantly, with a number of firms willing to recruit foreigners for senior manager positions.
Notably, Japanese companies, which are Navigos Search’s customers nationwide, are recruiting employees mainly in manufacturing, information technology and services.
The recruitment services provider forecasts that recruitment demand in Japanese companies will continue to rise in the second quarter of this year as they make recruitment plans for the new fiscal year, starting from April.
According to the Navigos Search’s report, manufacturing, retail, finance-banking and information technology had the highest recruitment demands in the first quarter of this year.
Experts attributed the high recruitment demands in the manufacturing in Q1 2018 to its positive growth rate. In the first quarter of the year, the growth rate of the processing and manufacturing industry, which accounted for 90 percent of the national industrial value, led at 13.9 percent, contributing 10.5 percentage points to the national IIP’s growth. Key industries of the processing and manufacturing were electronics, computer, optical and metal production.
Manufacturing firms have so far also optimistic about production in the second quarter of this year. According to a recent survey by the General Statistics Office on business trends in manufacturing enterprises, 75.4 percent of firms said that their business in the first quarter of the year had seen improvements compared to the fourth quarter of 2017 and the trend promises to continue for the second quarter of the year.
The quarterly survey was conducted on more than 6,500 firms operating in the manufacturing industry across 63 provinces and cities around the country with a response rate of over 90 percent.
The survey revealed that 91.8 percent of manufacturing enterprises in the FDI sector expressed their optimism for improved business operations in the second quarter of 2018 while 88.8 percent of enterprises in the State-owned sector, and 88.6 percent of enterprises in the private sector, showed their belief in a better upcoming quarter.
Regarding production output, 91 percent of firms predicted an increase in their output for the second quarter of this year.
Of those, 93.6 percent of FDI firms expected increased or stable output while 91.7 percent of State-owned firms and 89.9 percent of private firms forecasted a higher output in the second quarter of the year.
The government has so far also planned to further boost the manufacturing industry. According to a resolution released recently, the processing and manufacturing industry will contribute 30 percent to the national GDP by 2030, of which 20 percent will be from the manufacturing industry.
The value of high-tech processing and manufacturing products will reach at least 45 percent while the industrial labor productivity will increase by 7.5 percent on average annually.
The industrial growth rate will average at over 8.5 percent, of which the processing and manufacturing industry will see a rise by 10 percent yearly.
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