Textile Transfer To Vietnam? Start A Few Days Before Filing For Bankruptcy.

In September 3rd, the Daily Telegraph website published an article saying that it was not a wise move for US companies to "abandon China to Vietnam", and that trade wars would not lead to "massive supply chain shifting out of China".

The article said that US President Donald Trump's trade war with China is bringing manufacturing back to the United States. But in reality, it is the enemy of the United States, Vietnam may get the most benefits.

　　 The article points out that some American companies are considering transferring some of their products from China to Vietnam.

But is it wise to abandon China and go to Vietnam?

The article says that not everyone is convinced of this. One reason is that Vietnam's 100 million population is no match for China's 1 billion 400 million population. Critics claim that the Vietnamese labor force lacks the highly specialized skills and training that can be acquired in China, and is also faced with safety standards.

On the other hand, as sophisticated technology and machinery will dominate future production, China has begun to transform its factories. China's recent efforts to promote robotics, automated quality control checks and the use of artificial intelligence may take several years to implement in Vietnam.

After the loss of the boss of the Haitian city, Taiwan H&S company intervened to take over, but failed to deal with legal problems and announced its withdrawal. Haiphong city yesterday requested the relevant units to assist the factory in handling business or bankruptcy procedures in accordance with the law, and set up a working group to deal with the company's aftermath.

In 2004, Kai Kai set up a factory in Hai Phong, specializing in the production of footwear products. Currently, she employs 2357 employees, including 2180 female employees. When the staff went to work on the morning of the 12 th, they found that the factory buildings and warehouses were closed, and 18 people, such as Kay's desk boss and supervisor, were missing.

After the incident, the Vietnamese labor union and other units actively tried to communicate with the factory, and discussed and sought solutions.

H&S expresses the intention of taking over. Recently, it was linked to the father of Kai Kai boss. On the 19 day, he organized a new supervisor team to take over Kay in Haiphong city and met with his staff. The new management team at that time promised that half of the salary in July and August 10 days would be paid to employees 24 days ago, the other half would be completed before 31 days, and other social benefits of employees would be implemented in accordance with the Vietnamese law.

Under the intervention of H&S, Kai Fu has resumed operation since 20, and its employees have received half of the salary in July and 10 days before August. However, because the new management team was unable to deal with legal problems, the bank did not agree to postpone the repayment time of the company, and took over the announcement in less than a week. All employees of the company were once again trapped in the dilemma of "unemployment" and the loss of their rights and interests.

Vietnam's "Min Chi news" news website reported today that Nguyen Van Tung, the chairman of Haiphong City People's Committee, asked employees to stop working immediately after hearing their employees' feelings and understanding of Kay company, but they did not go to factories to collect other jobs, and promised to ensure their rights and interests.

The report pointed out that Ranvenson held a meeting yesterday afternoon to solve the dilemma of Kay company, and asked the local planning and investment office to assist the factory in handling the operation or bankruptcy procedures in accordance with the law.

According to the report, Ranvenson asked the relevant units to organize and set up a working group to deal with the company's aftermath, including helping the company sell the last batch of goods smoothly to obtain funds, blockade the factory to maintain assets, solve the company's value-added tax rebate procedures, and so on, so as to obtain the priority to pay salaries and social insurance for employees.

In September 3rd, the Daily Telegraph website published an article saying that it was not a wise move for US companies to "abandon China to Vietnam", and that trade wars would not lead to "massive supply chain shifting out of China".

The article said that US President Donald Trump's trade war with China is bringing manufacturing back to the United States. But in reality, it is the enemy of the United States, Vietnam may get the most benefits.

The article points out that some American companies are considering transferring some of their products from China to Vietnam.

Photo: March 28, 2017, the construction of the Jilin Hedong railway line in Hanoi, Vietnam. (Xinhua News Agency)

But is it wise to abandon China and go to Vietnam?

The article says that not everyone is convinced of this. One reason is that Vietnam's 100 million population is no match for China's 1 billion 400 million population. Critics claim that the Vietnamese labor force lacks the highly specialized skills and training that can be acquired in China, and is also faced with safety standards.

On the other hand, as sophisticated technology and machinery will dominate future production, China has begun to transform its factories. China's recent efforts to promote robotics, automated quality control checks and the use of artificial intelligence may take several years to implement in Vietnam.

The article points out that there are still some signs that China's economy is continuing to warm up. In September 2nd, Caixin China Manufacturing Purchasing Managers' index measuring the status of China's manufacturing industry showed that the index rose to its highest level in 5 months in August.

According to klin birch of the economist think-tank in the UK, trade war is unlikely to lead to the massive shift of the supply chain from China. He said: "I think it is too difficult and costly to move business away, and it will not work."

A few days after the start of the project, the Vietnamese shoe factory applied for bankruptcy.

According to recent media reports:

After the loss of the boss of the Haitian city, Taiwan H&S company intervened to take over, but failed to deal with legal problems and announced its withdrawal. Haiphong city yesterday requested the relevant units to assist the factory in handling business or bankruptcy procedures in accordance with the law, and set up a working group to deal with the company's aftermath.

In 2004, Kai Kai set up a factory in Hai Phong, specializing in the production of footwear products. Currently, she employs 2357 employees, including 2180 female employees. When the staff went to work on the morning of the 12 th, they found that the factory buildings and warehouses were closed, and 18 people, such as Kay's desk boss and supervisor, were missing.

After the incident, the Vietnamese labor union and other units actively tried to communicate with the factory, and discussed and sought solutions.

H&S expresses the intention of taking over. Recently, it was linked to the father of Kai Kai boss. On the 19 day, he organized a new supervisor team to take over Kay in Haiphong city and met with his staff. The new management team at that time promised that half of the salary in July and August 10 days would be paid to employees 24 days ago, the other half would be completed before 31 days, and other social benefits of employees would be implemented in accordance with the Vietnamese law.

Under the intervention of H&S, Kai Fu has resumed operation since 20, and its employees have received half of the salary in July and 10 days before August. However, because the new management team was unable to deal with legal problems, the bank did not agree to postpone the repayment time of the company, and took over the announcement in less than a week. All employees of the company were once again trapped in the dilemma of "unemployment" and the loss of their rights and interests.

Vietnam's "Min Chi news" news website reported today that Nguyen Van Tung, the chairman of Haiphong City People's Committee, asked employees to stop working immediately after hearing their employees' feelings and understanding of Kay company, but they did not go to factories to collect other jobs, and promised to ensure their rights and interests.

The report pointed out that Ranvenson held a meeting yesterday afternoon to solve the dilemma of Kay company, and asked the local planning and investment office to assist the factory in handling the operation or bankruptcy procedures in accordance with the law.

According to the report, Ranvenson asked the relevant units to organize and set up a working group to deal with the company's aftermath, including helping the company sell the last batch of goods smoothly to obtain funds, blockade the factory to maintain assets, solve the company's value-added tax rebate procedures, and so on, so as to obtain the priority to pay salaries and social insurance for employees.

The layout is independent of this article.

According to the report, the Haiphong municipal government requires the relevant units to pay their employees' salaries and social insurance costs in mid September. If the cost of the company is not enough, the government will consider using the local government budget to pay for the sale of the plant assets after the company has stopped operation or bankruptcy procedures.

In addition, Haiphong city government also needs local police to ensure Kay company's internal and external public security. If employees gather in order to affect safety and order, they will not be able to get wages and other rights.

Haiphong City Labor Union pointed out that when the company lost contact with the company, the company owed about 30 billion of its employees' salaries, more than 149 billion of its bank debt, and 9 billion 500 million of its employees' social insurance premiums from May to now.