More than 70 union leaders will witness first-hand how Vietnam wrestles with an inflation rate of over 25 per cent when they visit the country next week.
Vietnam's experience should help drive home the message that the way to secure workers' future is to manage inflation, and spur competitiveness and growth, NTUC deputy secretary-general Heng Chee How said yesterday.
He was speaking at a ceremony where 73 branch leaders were recognised for their work.
'If you had gone to Vietnam - say, two or three years ago - the main learning points would have been about its fast-developing economy and young, ambitious workforce.
'This time round, you will see an additional aspect...You will see how such a high rate of inflation is affecting its economy and the lives of its people, and what measures it is taking to deal with the challenge.'
Vietnam is facing one of its biggest challenges, with yearly inflation in double digits for seven consecutive months. It soared to 25.2 per cent in May this year.
Rising prices have outpaced wage increases and fuelled unrest, with factories hit by 295 strikes in the first three months of this year.
Union leaders said the four-day visit to Ho Chi Minh City is timely, given that inflation is a key concern among union members and Singaporeans as a whole.
Port Officers' Union executive committee member Royston Tan, 32, said he made representations on behalf of members to PSA Corp management last month to raise mileage claims from 60 cents per km to 65 cents, given the higher fuel costs. The issue is still being discussed.
And following the National Wages Council's recommendation that employers offer a one-off special payment to help workers cope with inflation, PSA has agreed to give each worker $500 worth of NTUC FairPrice vouchers this month.
Said Mr Tan, who hopes to learn how Vietnam's unions cope with price hikes: 'Our inflation is at 6 to 7 per cent, and everybody is already complaining. Imagine an inflation rate of over 25 per cent!'
Ms Cheung Mei Ling, 34, who heads the women's committee in the HDB Staff Union, similarly hopes to share the lessons from Vietnam's experience with members.
Both were among branch officials from 52 unions who received awards from NTUC secretary-general Lim Swee Say for their valuable contribution to the labour movement.
This article was first published in The Straits Times on 10 July 2008.
