An Introduction to Doing Business in ASEAN 2023
This publication, designed to introduce the fundamentals of investing in ASEAN, was compiled by experts at Dezan Shira & Associates, a specialist foreign direct investment practice, providing corporate establishment, business intelligence, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals investing in emerging Asia.
An Introduction to Doing Business in ASEAN 2023 covers the following:
- Corporate establishment;
- Tax and accounting;
- Human resources and payroll;
- Audit and compliance.
Vietnam’s HR Landscape, Compliance, and Recruitment – Latest Issue of Vietnam Briefing Magazine
Moving forward, foreign firms operating in Vietnam may need to adjust their HR processes and procedures to meet the demands of this new labor market. They should also be aware of alternative, low-risk ways to access Vietnam’s labor market that can give them an edge entering Southeast Asia.
In this issue of Vietnam Briefing Magazine, Dezan Shira & Associates cover what’s happened to Vietnam’s labor market, employee expectations moving forward, and how foreign firms can go about recruiting staff. It also addresses Global Staffing Solutions and how foreign firms can start operating in Vietnam without putting boots on the ground.
Hungary – Guidelines from Hungary’s Curia on employer’s timesheets
Employers have to keep records of working time. These must be updated on a daily basis and must enable identifying the start and end time of regular and overtime work and stand-by duty. The aim of this obligation is to prove that the rules concerning working time and rest periods are observed in case of inspection by the labour authority or a claim by an employee.
The Guide to Employment Visas for Foreign Workers in Indonesia
Indonesia has introduced new reforms on foreign employment visas through the introduction of the Omnibus Law, also known as Law No. 11 of 2020 on Job Creation.
The recent changes include the introduction of a foreign worker utilization plan — a document that details the specific work, position, and length of employment the foreign employee will undertake in Indonesia.
Further, employers must submit an annual report to the Ministry of Manpower that covers the scope of the foreign worker’s employment, and the types of technology or knowledge transfer being implemented.
Vietnam: Foreign Worker Reports are Due January 5
In December of 2020, the laws pertaining to employing foreign workers changed. Firms employing foreign workers are now required to lodge reports every six months. Here’s what you need to do to satisfy this requirement.
Who should complete a foreign worker report
Any employer, either foreign or domestic, that hires foreign workers with work permits need to complete a foreign worker report.
HR UPDATE: CENTRAL ASIA
Christian Tegethoff, Managing Director, CT Executive Search
A look at the current HR trends in Central Asia:
- What makes Kazakhstan's HR market stand out?
- An overview of Uzbekistan's HR market.
- Top 5 HR trends to look out for.
- Executive search in Central Asia.
What Defines A Good Leader – And Can You Learn To Be One?
Yes, leadership is a talent. But it is also so much more than that. Here are a few pointers on how to develop good leadership – and what it is really about.
- Why is leadership so important?
- What is good leadership?
- How do I find and develop my leadership skills?
How To Gain Clarity About Your Career Needs
Finding the right person for the job – and the right job for a person – is a bit like match-making. Work has to do with purpose, it's personal. This is why you can only thrive in an organization that’s right for you. And how do you find that? By understanding your career needs and communicating them.
New Rules, New Players – Uzbekistan
CT Executive Search Press Release
As the rules of international business change, new players emerge.
According to the Asian Development Bank, Uzbekistan's GDP is expected to grow by 4.0% in 2022 and 5.0% in 2023. The country is also one of the biggest producers of gold, with substantial deposits of silver, strategic minerals, gas, and oil.
So, what opportunities lie in wait for European investors, and how will the country’s economy and job market evolve in the coming years?
These are the questions that were addressed at the webinar titled “Uzbekistan – An Overview Of The Economy, Investment And Labour Market”, organised by CT Executive Search, in collaboration with AHK Central Asia.
“New players have indeed emerged on the global market. As Uzbekistan gains more attention, we have received an increase in the number of requests to recruit candidates to top management positions of companies currently setting up active operations in the production, agricultural, IT and manufacturing sectors. For qualified candidates interested in executive positions, this is definitely a market to now consider – the salaries are competitive. Our highly qualified and experienced team of HR experts is always ready to provide high quality recruitment services to all companies looking to do business in Uzbekistan.” - says Christian Tegethoff, Managing Director, CT Executive Search.
Slovakia: Labour Code amendment that will affect every employer
Extensive employer information duty and other important changes from 1 November 2022.
Slovakia's Labour Code amendment primarily aims to implement two European Directives (No 2019/1152 and No 2019/1158).
The amendment introduces many changes to the Labour Code, but the most important is the new information duty of employers, which must be fulfilled in a rather broad scope. Employers are now obliged to provide employees with written information on working conditions and terms and conditions of employment.
Hong Kong’s New Visa and Property Tax Regulations to Attract Foreign Talents
Hong Kong is lowering property taxes and relaxing visa requirements for non-permanent residents to draw in international talent and resurrect the city’s reputation as a global financial center. The new measures address the current workforce shortage while simultaneously developing the local talent base and closing the skills gap.
Romania: Substantial amendments to the Romanian Labour Code
Romania's Labour Code has been amended following the transposition into national law of a series of European Directives.
Among the most important amendments:
- New mandatory provisions are to be included in individual employment contracts.
- With regard to the existing right of employees to work for different employers under different employment contracts, the lawmaker now requires that their working hours cannot overlap.
- A prohibition on establishing a new probation period if, within 12 months, a new individual employment contract is concluded between the same parties for the same position and with the same duties.
CENTRAL ASIA HAS MOVED UP THE PRIORITY LIST
Christian Tegethoff, Managing Director, CT Executive Search
In terms of recruitment, what kind of assignments are you mandated with in Uzbekistan?
For most of our clients, Uzbekistan is primarily interesting as an export destination. The country is a major buyer of agricultural technology and also offers potential for a range of other consumer and capital goods.
Accordingly, our customers with business connections to Uzbekistan mainly pursue sales and service activities, the construction of production plants is still the exception. However, we expect that Uzbekistan, with its almost 35 million inhabitants and a favorable geographic location, will become a more important production location for the European economy in the future.
The west is a prefered economic partner in Uzbekistan
Hovsep Voskanyan, Delegate of German Business in Central Asia (AHK Central Asia)
How is the German economy represented in Uzbekistan today?
We have around 225 German companies on site, and their number is growing slowly but surely. Most maintain sales offices. But there is also a significant number of German companies currently investing in the region, among which are Knauf with its three plants in the building materials sector, Lemken and Claas in the agricultural technology sector, Volkswagen and MAN with production in Bukhara. Deutsche Kabel AG operates a plant in Tashkent and recently opened another location where fiber optic cables are produced.
Cambodia Opens Foreign Employee Quota Application for 2023
Cambodia has opened the foreign employee quota application for businesses for 2023. Businesses that want to hire a foreign employee must apply for this quota before obtaining a work permit for the employee.
Under the quota system, only 10 percent of a Cambodian company’s total workforce can be foreign nationals. The deadline for the foreign employee quota application ends at the end of November 2022.
Uzbekistan: A LOT HAS BEEN DONE IN THE LAST FIVE YEARS
Falk Porsche, Owner and shareholder, Falk Porsche Technik GmbH and Deutsche Kabel AG
What would you recommend to an international company interested in the Uzbek market?
The global production and supply chains are being redefined today due to the changing geopolitical situation. Entrepreneurs are looking for alternative suppliers and growing markets. We are ready to share our experience with regard to investment in Uzbekistan. This applies in particular to copper and glass fiber products, as well as various steel wire products.
THE INDO-GERMAN MAGAZINE JULY/SEPTEMBER 2022
A Guide to Minimum Wage in India in 2022
The minimum wage in India has for a long time been regulated under the purview of the Minimum Wages Act, 1948. This will now be subject to the provisions of the Code on Wages Act, 2019, which was notified in August 2019.
In fact, the Code on Wages Act replaces four labor regulations – Minimum Wages Act, 1948; Payment of Wages Act, 1936; Payment of Bonus Act, 1965; and Equal Remuneration Act, 1976.
The new wage code prohibits employers from paying workers less than the stipulated minimum wage. Further, minimum wages must be revised and reviewed by the central and state government at an interval of not more than five years.
Lithuania: Non-payment of wages the most common reason for labour disputes
The State Labour Inspectorate (SLI) has published the semi-annual report on the activities of the Labour Dispute Commissions (LDC) for the first half of 2022. Most of the requests to the LDC concerned workers’ remuneration.
The LDC is a governmental, pre-judicial body in Lithuania to which the parties to a labour dispute can turn. According to the published information, the LDC issued a total of 6 157 (in the second half of 2021, the number was still more than 6 800) decisions on requests submitted by claimants, of which 4 647 (about 75%) decisions concerned remuneration disputes.
The AHK India 66th Annual review
AHK India 2022 Annual Review
Incorporated in 1956, the Indo-German Chamber of Commerce is the primary contact for Indian and German companies who want to do business with each other. In addition, we act as a voice for the Indo-German business community at various levels. Our Annual Review covers all the important and relevant activities of the Chamber over the previous year covering all the Chamber events, Trade Fairs, IGTC, and much more.
Czech REpublic: Intentionally faking work performance may constitute a particularly gross breach of employee’s duties
According to the Czech Republic Supreme Court, intentionally faking work performance may constitute a particularly gross breach of employee’s duties.
The decision by the Supreme Court of 20 May 2022 that is at the heart of this article (21 Cdo 424/2021) addresses, among other things, the issue of employees deliberately faking work performance for the employer, and arrives at interesting conclusions especially for employers who seek clarification how severe a breach of work obligations by the employee must be in order to justify the (possibly summary) dismissal of the employee on grounds of a violation of statutory duties related to their work.
All Roads lead to Kazakhstan – or do they?
CT Executive Search Press Release
What opportunities lie in wait for European investors, and how will the country’s economy and job market evolve in the coming years?
These are the questions that were addressed at the webinar titled “Kazakhstan – Status Quo and Economic Perspectives”, organised by Bundesverband mittelständische Wirtschaft (BVMW), CT Executive Search and SCHNEIDER GROUP.
“Kazakhstan has become a very attractive location for many European companies, looking to significantly expand their operations in the CIS. For qualified candidates interested in executive positions, this is definitely a market to consider – demand for top level executives continues to increase and the salaries are extremely lucrative. Already, CT Executive Search has successfully helped several companies in the manufacturing, agricultural and IT sectors in Kazakhstan, recruit highly qualified personnel who can work successfully on the local market while being familiar with the specifics of an international company. Our highly qualified and experience team of HR experts is always ready to provide the same high quality recruitment services to all companies looking to do business in Kazakhstan.” - says Christian Tegethoff, Managing Director, CT Executive Search.
Keeping up with Romania’s Economic Growth
CT Executive Search Press Release
Romania’s economic growth shows no signs of slowing down as investors continue to pour in and companies expand their business operations. What are the legal aspects of doing business in Romania? How are companies addressing the ever-increasing labour shortages? And where should recruiters look for suitable candidates?
These are the questions that were addressed on the 14th of September at the webinar organised by AHK Romania, CT Executive Search, Elite Searchers and STALFORT.Legal.Tax.Audit.
“Given Romania’s highly skilled workforce, proximity to other European markets, and favourable conditions for setting up a business, it is an ideal nearshoring location for Germany and other European countries alike. As in most Eastern European countries, there is currently a clear shortage of workers in Romania. CT Executive Search continues to work closely with companies doing business in Romania, in identifying the ideal candidates for management positions. We also work closely with our clients in developing the right HR strategy to ensure that only the best talent is recruited, and proper attention is given to talent development and retention” – says Christian Tegethoff, Managing Director and Founder, CT Executive Search
What Content Should Be Included in All Employment Contracts in China and the UK?
When it comes to signing an employment contract in China, there are a few key things that you should always include.
This information is essential for both employers and employees, so it’s important to know what’s required before signing on the dotted line.
Talent Acquisition After the Pandemic in India: Tips for HR and Recruitment
As employers in India confront trends like ‘quiet quitting’, this update examines changes to recruiting in the post-COVID era and discuss smart strategies for enterprises to benefit from the shifts in work attitudes and employment priorities. Flexible hiring practices, customized work assessment policies, and effective employer branding will allow enterprises to attract the best talents and achieve staff loyalty. Companies may also need to opt for a more distributed workforce and adopt telecommuting. While retaining their traditional workforce, this new flexibility in recruitment policies will help enterprises cast a wider net for skilled and “compound” talents, who may have previously been unavailable due to mobility and location challenges or time constraints.