Key Insights from the Labor Workshop - November 27, 2024 - THE LAM LAW

THE LAM LAW LLC – Your legal need, Our Mission is pleased to share key takeaways from the Labor Workshop hosted by the Department of Labor, War Invalids and Social Affairs of Ho Chi Minh City, HCMC Institute for Development Studies and the International Integration Center. The event focused on “EU Labor Requirements in Trade and Supply Chains: Challenges and Solutions for Enterprises”, providing valuable insights into compliance requirements for businesses operating in Vietnam.

🔑 Key Highlights:

1. Corporate Sustainability Due Diligence Directive (CSDDD):

* Enforced by the EU, this directive mandates companies to implement sustainable business due diligence to address human rights and environmental impacts across their supply chains.

* Key focus areas include preventing forced labor, child labor, and discrimination while promoting fair wages and safe working conditions.

2. Labor and Environmental Risks:

* Compliance with international labor standards (ILO conventions) and environmental requirements is vital for accessing global markets.

* Companies must identify and mitigate risks like forced labor, unsafe working environments, and unsustainable resource use.

3. Practical Challenges for Vietnamese Enterprises:

* Limited resources and awareness among SMEs regarding EU compliance requirements.

* Complex supply chains and high compliance costs pose significant barriers.

4. Best Practices and Recommendations:

* Proactive Compliance: Businesses should invest in internal compliance systems and train dedicated teams to manage sustainability obligations.

* Collaboration: Engage with trade unions, NGOs, and government bodies for guidance and shared responsibility.

* Transparency: Regularly disclose due diligence efforts and cooperate with international partners for mutual compliance.

5. Opportunities and Benefits:

* Aligning with EU standards enhances global market access and fosters long-term partnerships.

* Building sustainable practices strengthens brand reputation and operational resilience.

Further details, please find attached documents: Labor Workshop – EU Labor Requirements in Trade and Supply Chains

Should you need any legal support, don’t hesitate to reach out to our Lawyers & Associates. We are pleased to assist your legal need.
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