Word: laboral
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What will be your first priority as Prime Minister? The absolute priority is the relaunching of the economy. We will start by reducing labor costs in a very targeted way, and at the same time we will send a very clear message to the worldwide markets that we have a strategy for reducing the deficit and trimming the national debt...
...China. In October of that year, however, Chinese police conducted one of their periodic raids in search of refugees from the North. She tried to hide, but two policemen discovered her. She was arrested and sent back to North Korea, where she was sentenced to three years in a labor camp. "We were so hungry in the camps that we used to pick up and eat the remains of apples that the guards had thrown away." After a year and a half, during which she says she was beaten and had the forced abortion, she was released under a special...
...south, including lower wages, cheaper real estate and a nearby port that is less clogged than Saigon's. Sumitomo, the Japanese real estate giant, first looked to the south when it was planning to build a Vietnamese industrial park in 1997. But after comparing Saigon's infrastructure and labor costs, the developers chose Hanoi instead, and the gamble paid off. The first two phases of Sumitomo's 300-hectare Thang Long industrial park in Hanoi sold out last year, two years ahead of company projections. "It was a surprise," admits Shigeo Fukuda, senior director of Thang Long industrial park...
...plenty of business to go around. While the world debates whether China or India will become the economic leader of the developing world, Vietnam is seen as an opportunity for companies to diversify their manufacturing base. The country boasts one of the world's highest literacy rates, a young labor force that adds a million new workers each year and a growing internal market. "Vietnam is trying to position itself as 'If not China, then Vietnam,'" says Intel Vietnam's director Than Trong Phuc. "It's a pretty good strategy...
...port fees are relatively costly. Last summer, a drought in the north reduced hydroelectric generation and the government was forced to implement rolling power outages. Vietnam still hasn't developed support industries to supply parts and services to factories, forcing them to import parts and expertise. Meanwhile, restrictive labor laws make it virtually impossible to fire unproductive workers, and managers in foreign-owned factories complain about pervasive government corruption and interference. In January, Hanoi abruptly decreed that the minimum wage paid at foreign-owned factories would rise by 40%, a move designed to end mass strikes by garment workers...