Why do we have to undertake background check before recruitment? | ANT Consulting

Recruitment is the process of screening and recruiting qualified people to meet a job in an organization in general and in particular business. Recruitment plays a very important role in business development. Effective recruitment will provide businesses with a team of skilled, active, creative employees and provide human resources in accordance with the business performance of the business. Only when doing well the recruitment stage can we do well in the next stages. Therefore, businesses need to recruit the right people right the first time as well as arrange them in an important position.

Most of the information that enterprise has is provided by the employee and there is no verification of the information. And if the enterprise only relies on the information provided by the employee, it is likely that the employee is dishonest, or causes mistakes and avoid responsibility. To recruit “right employee, right job”, enterprise needs to check the applicant’s background.

Checking employee’s background is to create trust between enterprise and employee. The background check includes: Verify Identification; Verify at home; Verify qualifications and certificates; Verify employment history at old jobs; Verify criminal records in Vietnam.

Verification of the background helps to know personal information, origin, hometown, criminal status of the employee. Thereby, background check will minimize commercial risks; preventing fraud and internal theft better; increase security of data and documents in the enterprise. In particular, for important positions in the enterprise, the confidentiality of enterprise document information is extremely necessary.

Verifying employment history at past jobs is to understand working process and the reason for job termination; obtain an objective view of the necessary competencies, skills and work experience. From there, enterprise could save time in searching for suitable employees as well as saving labor training costs.

In addition, background check improves business efficiency, developes a team of integrity to meet the business requirements of the enterprise. Because recruiting well means finding out people to perform the job with the capabilities and qualities to complete the assigned work, then effective recruitment helps the enterprise perform well its business goal and improve profitability.

Currently, the situation of fraud, diploma trading, or dishonesty in recruitment, many enterprises cannot control and verify all the information that employees provide. Enterprises need to check applicant’s background when recruiting to prevent fraud, internal theft; increasing security of data and documents in enterprises; decrease recruitment time and training costs. Besides, creating trust between businesses and employees; increase employee productivity and product quality as well as increase business profits. It is suggested to consult with professional background check service company with proven track record in Vietnam to help with the local service.

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Why employee background check is important? | ANT Consulting

 It has been increasingly important for employer to understand about the employee through employee background check to reduce potential hiring risks.

The risk of wrong hiring could be accessing the wrong talent, exposure to criminal activities, legal issues, reputation matters that impact the business, workforce or customers.

It is understandable that if applicants are dishonest in how they obtained a job, they may be dishonest once they have the job. This could not be found out during the interview.

Hence, it is important to consider investment in background screening service to minimize the risks associated with workplace violence, lost customers, negligent hiring lawsuits, identity theft and fraud, embezzlement, data breaches, and high turnover.

The pre-employment screening by verification and validation of the information and documents provided by the potential candidates could cover the following matters.

Government-issued identification document. The candidate will provide one or more identification (ID) documents i.e. a photo ID card or passport. The employee background screening firm is asked to verify that the ID document provided by the candidate is valid.

Criminal record check. This information cannot be provided by the candidate. This record check will likely be obtained directly from Provincial Department of Justice, and possibly other local or national law enforcement organizations. With the authorization of the application, such criminal record could be obtain by background check company.

Employment history. The candidate will provide the name and location for his or her previous employers for a number of years. The background screening firm is asked to verify that the candidate actually worked for the previous employers listed.

Education history. The candidate will provide a copy of the highest degree or certificate of completion issued by the educational institution i.e. university, industrial training academy. The background check service company is asked to verify that the degree, certificate was actually issued by the institution to the candidate. The candidate may be asked to provide official transcripts from the educational institution in lieu of, or in addition to, the copy of a degree, certification in order to assist in the verification process.

Professional accreditation. If a candidate claims to have a professional accreditation or certificate, the candidate should also provide a copy of this to verify.

Managerial position. This information, a search of government records cannot be provided by the candidate. This record check will be obtained directly from Business Registration Office by employee background check service.

If a person passes a background check, it does not mean such hiring would not encounter issues in the future but it is important to have as much information about applicants being verified to warn the risks if found before making hiring decisions to reduce the potential risks to the employer and its workforce, customers.

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Quang Nam promotes and attracts foreign investment in 2021| ANT Consulting

Earlier in 2021, the representative of Quang Nam province proposed the province’s investment promotion program in 2021. Accordingly, the objective of Quang Nam province is to promote investment promotion in the following fields: supporting industries; agro-forestry-fishery processing industry, building materials; agricultural production towards high efficiency; field of investment, construction and business of infrastructure of industrial zones, industrial zones, airport infrastructure, seaports, urban transport infrastructure.

In the industrial structure, focus on investment promotion projects in supporting industries for mechanical engineering, automobiles, supporting industries for electricity, electronics and textiles – footwear, processing of products which use the local material.

The representative of Quang Nam province committed to promoting the improvement of the investment environment, administrative reform, and improving the efficiency of investment promotion. Quang Nam recognized the importance of investment promotion on the spot through increasing support for projects that have been licensed for investment; directly working with investors to determine the portfolio of projects to expand production and business in accordance with the capacity of the investor and the potential and strength of the province. The province also focuses on dialogue activities with businesses and investors to promptly solve difficulties, problems, proposals and recommendations of investors.

However, Quang Nam will resolutely refuse to attract projects with high risk of causing environmental pollution, wasteful exploitation of resources, outdated technology, etc.

In addition, Quang Nam will cooperate with research institutes, domestic and foreign investment consulting companies to conduct research activities, evaluate investment potentials and trends of investment partners. foreign countries such as Japan, Korea, the US, Europe… and large domestic enterprises and investors. Also, the province intends to organize overseas investment promotion in the target markets of the following countries: Japan, Korea, Russia, Dubai, Hong Kong, Taiwan… Continue to review, update and build the list project calling for investment in Quang Nam province. In particular, it will review the status of projects that have been implemented, projects that have had an investor or issued an investment policy but are slow to implement, projects that have had their investment registration certificates revoked, collected land recovery … to avoid the situation of “hanging” projects, attracting and calling for qualified investors to implement the project.

According to statistics from the Department of Planning and Investment of Quang Nam province, in 2020, the province has granted 50 new domestic projects with a total investment of VND 8,140 billion. Regarding foreign investment projects (FDI), in 2020, Quang Nam province has granted 7 new foreign investment projects, with a total registered investment capital of more than USD 33 million by investors from the following countries: Korea, China, Singapore, Macau, Hong Kong, France, Germany.

The total number of valid projects in the province so far is 197 projects with a total investment of more than USD 5.93 billion.

With efforts to attract FDI, Quang Nam hopes to be an investment destination for domestic and foreign investors to set up companies, to contribute to the province’s socio-economic development and to maximize profits for investors. fourth in the future.

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Da Nang – Singapore To Cooperate for Development | ANT Consulting

On May 12th, 2021, the representative of Da Nang city had a webinar with representatives of Ho Chi Minh City and Singapore on economic development, which the seminar was attended by nearly 200 companies from different industry whom are potential investors from Singapore, interested in setting up company in Vietnam.

During the seminar, the representative of Da Nang city introduced the investment and business environment, and preferential policies and investment opportunities of Da Nang city in the fields of high technology, information technology, high-quality services (health, education, logistics). The seminar received the sharing of experience when investing in Da Nang as well as the support of the city government from one of the largest Singaporean investors in Da Nang, and financial solutions when investing in Vietnam from some Singapore experts.

The representative from Singapore Business Federation highly appreciated the potential of the city’s business investment environment and proposed Da Nang city to establish the Da Nang Information Center (Da Nang Desk) located at the Vietnam Connection Center at the Singapore Manufacturing Federation (SMF) to connect Da Nang with Singapore companies.

Da Nang City is inviting Singaporean investors and businesses with financial and technological capabilities to learn about the business investment environment and cooperation opportunities in the city. The representative of Da Nang City highly appreciated the proposal to set up Da Nang Information Center in Singapore and assigned the Investment Promotion and Support Committee to propose a model, serving as a bridge to support the environment and business investment opportunities of Da Nang to Singaporean enterprises in particular and international in general; thereby further promoting the investment cooperation relationship between Da Nang and Singapore in the coming time.

Singapore is one of Vietnam’s most important trade and investment partners. In 2020, despite being affected by Covid-19, Singapore invested in 248 projects in Vietnam with a total capital of nearly 9 billion USD, making it the leading country in foreign investment in Vietnam. Accumulated to the end of 2020, Singapore is the 3rd largest foreign direct investor in Vietnam after Korea and Japan with a total of 2,629 projects and a total registered capital of more than 56.5 billion USD. In 2020, the total two-way turnover between Vietnam and Singapore reach over 6.7 billion USD, of which the export value of Vietnam’s goods will reach 3 billion USD and the import value will reach USD 3.7 billion.

Singapore is one of the key markets for investment attraction of Da Nang, currently the city has 28 Singapore FDI projects with a total registered capital of more than 838.4 million USD, ranking 2nd in the list of more than 50 countries and regions, territory, accounting for about 22% of total registered investment capital.

Da Nang City hopes that many investors from Singapore will invest in Da Nang to help the city achieve its goal of becoming the largest financial center in Vietnam. And the Singaporean investors can enjoy the best incentives from the city to get the best return on their investment from establishing company through foreign direct investment or making investment through M&A with local company. However, it is always important to undertake background check, search the reputation of the local company, local director and have full assessment on the business and financial risks in cooperating with local partners.

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Passing Thailand, Singapore, Vietnam Leads the Region in The PMI Index | ANT Consulting

Vietnam’s Purchasing Managers’ Index (PMI) has risen from 51.8 in August to 53.3 in September. Nikkei evaluated that the business conditions of the month had a strong improvement, achieving the best speed since April. Accordingly, the health of this field is positive during the past 22 months.     

Ranking the countries according to the PMI index of the month, Vietnam continued to lead the overall growth list with the PMI index rising to a high in September. The Philippines advanced to the second position with 50.8 points, although overall growth is still light.

Indonesia with 50.4 points indicates that business conditions continue to be improved while Thailand has rebounded to 50.3 points after a decline in the previous two months. After the improvement last month, Malaysia (49.9 points) recorded almost unchanged production conditions in September. Meanwhile Singapore (48.6 points) fell into the decline. Myanmar (49.4 points) continue to have weak business conditions, although the speed of decline is light.

Analyzing the reasons for growth in Vietnam, according to the Nikkei, customer demand increased and new orders increase as a result. This is the most significant increase in 5 months. Order growth rate also improved sharply in September.

Thanks for that, inventories also fell for the third month in a row, the biggest drop since July.

Production output of Vietnam has also increased in 11 consecutive months. All three areas of the market have increased production, led by companies producing consumer goods.

In terms of input costs, Nikkei noted that due to rising raw material prices, including raw materials from China, input costs rise significantly, the strongest since May 2011. Therefore, in September 2017, for the first time in 5 months, companies must increase output prices.

According to Mr Andrew Harker from IHS Markit, the company that collected the survey results evaluated that the third quarter ended with a positive note for Vietnamese producers. As a result, manufacturers may continue to grow in the last quarter. Nevertheless, he noted that Vietnam should be cautious as inflationary pressures reappeared.

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Why background check is needed when applying for second passport? | ANT Consulting

Nowadays, it is popular for individuals to have a second passport. It can be seen that in many countries, individuals are restricted to travel freely between countries. Typically, such nationals whom wish to travel abroad are required to apply for a visa which takes a lot of paper preparation for proof of financial status, legitimate reasons and waiting time. 

The investment for second citizenship will help investors get a more powerful passport, less limited mobility, especially in European countries. This is also an invaluable advantage for those who wish to expand their business opportunities internationally. Different countries will have different citizenship investment programs, the most common forms of contribution to national funds and investing in real estate in that country. 

However, in addition to the mandatory conditions for the investment, in order to be able to receive the passport, the investor also needs to go through a certain application review process. Normally, the countries that grant citizenship to foreign citizens will conduct judicial background verification, background check, criminal record, and the investor’s health status such as Cyprus, Montenegro, Bulgaria, Hungary. In particular, the applicant will have to be qualified for civil liability. There are countries that are particularly concerned about the investor’s health such as Malta, which requires the individual applying to have global health insurance, investors and families need to prove that they purchased health insurance in their immigration application. In Cyprus, in order to pass the document check, investors also need to provide proof of the investment money source. Similar in Malta, Montenegro the investors need to present documents proving that the money has legal origin. Sometime, there are needs to verify the legitimate of the documents provided by the applicants. 

Further, verification of employment, salary, income, assets are also important for the review process. To some extents, the investors and their companies are also assessed for reputation and adverse media impact. In some countries, investors need to have documents certifying that they have resided there for a specific period of time at the request of the Government. In Malta, for example, the investor needs to reside here for 12 months before applying. In Bulgaria or Antigua & Barbuda, after being granted citizenship, investors need to reside in these countries for a certain period of time. For the citizenship by investment program in Montenegro, the application will only be accepted when it is submitted through a government-licensed agent under the program.

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