How do Vietnamese workers in Japan cope when the Yen depreciates?

Báo Dân tríBáo Dân trí04/07/2023


2 years of struggle

"The Yen has been falling continuously, and we, the workers, have been greatly affected. Over here, we have to be frugal with everything and cut back on spending compared to before. Money sent back home is now much less...", said Dang Van Vu (25 years old, from Gia Lai).

According to Mr. Vu, 2 years ago, the Japanese Yen was still at 208.97 VND/Yen, now it is only 163.18 VND/Yen.

Having been in Japan for 4 years, Mr. Vu has had to live in the most austere conditions during this period. 2 years ago, he sent home 20-25 million VND per month, now he can only send 16-17 million VND.

In Japan, Mr. Vu is also stressed because of the high cost of living, every item is expensive. Just food alone is 3-4 times more expensive than in Vietnam. That makes not only Mr. Vu but also most workers, including locals, hesitate every time they go to the supermarket.

Lao động Việt tại Nhật xoay xở sao khi đồng Yen mất giá? - 1

Selection of trainees to work in Japan under the IM Japan program, phase 1, 2023 (Photo: Overseas Labor Center, Ministry of Labor, Invalids and Social Affairs).

Previously, Mr. Vu worked as a construction machine operator. In his fourth year working in Japan, he switched to working as an auto maintenance worker with a salary of 17 Man/month (about 27.7 million VND), plus bonuses twice a year. Spending about 5 Man/month (equivalent to 8.1 million VND), the amount of money Mr. Vu has saved up to send back home is not much now.

Leaving home with so much determination and hope to change his life, but now, after 2 years of struggling, he only hopes to save a little and then return home to live a more peaceful life.

"I also plan to return home at the end of this year to do business in Vietnam. Part of the reason is that the Japanese currency has depreciated, and I don't have much work left. Later, I also want to return home to study and develop my career in another direction," said Mr. Vu.

Nhu Truc (23 years old, from An Giang) went to Japan to work at the age of 21, dropped out of university to work and earn money.

Currently, Truc is working as an employee at a food company, specializing in cooking and processing canned meals, with a salary of 22-25 million VND/month. This amount includes overtime. The 23-year-old girl has to work overtime to have enough money to cover her living expenses and send money home to her family as planned.

Lao động Việt tại Nhật xoay xở sao khi đồng Yen mất giá? - 2

Faced with stressful work, Vietnamese workers now have to work harder to earn extra money to send home (Photo: EPA Nursing Program)

"The money I send back home is now even less. I have to calculate a lot when I go to the supermarket. In particular, Vietnamese food has become a luxury for me now because the price is too high. It's really disappointing because the value of the money I earn is low compared to the pressure of work," Truc said.

Every day, Truc starts work at 6pm and works until 9am the next morning.

How to work profitably?

Mr. HN (30 years old) once asked his parents to borrow 200 million VND to go to Japan to work, hoping to pay off the debt soon and save up a significant amount before returning. But now the money he earns is just enough to pay off the debt and there is no surplus. With the price of food and groceries rising and the electricity bill increasing by 40%, N. feels pressured.

The Yen's devaluation caused N.'s income in Vietnamese currency to decrease by 7 million VND, from 29 million VND/month to 22 million VND.

Lao động Việt tại Nhật xoay xở sao khi đồng Yen mất giá? - 3

Despite the unfavorable developments in the labor market in Japan, many candidates are still waiting for their departure date (Photo: Nguyen Vy).

"Far from home, life is tiring and competitive. I set a goal to work to earn money to pay off my debt, have some capital, then return to Vietnam to open an electrical repair shop. This job does not require a lot of capital or experience," N. confided.

Mr. Dang Van Vu considers himself luckier because he has paid off all the 300 million VND he borrowed to invest in Japan. He paid off the debt in 2 years of going to Japan, but in the past 2 difficult years, Mr. Vu has not been able to save much.

"My parents grow coffee in the countryside, and their lives are not very good. My goal is to save 500 million VND, and now I have saved half of it. I want to return to my hometown to open an auto repair shop, get married, and live near my parents when they are old and weak," Mr. Vu confided.

On the contrary, Dinh Ba Khang, who just returned from Japan a few months ago, said that the Yen's devaluation did not have much of an impact. Khang went to work as a trainee and is now planning to return to Japan as an international student next year.

"I only regret that I didn't study abroad sooner. International students will be free to choose their jobs and receive 100% salary like Japanese people," Khang said.

According to Khang, an intern working 8 hours/day can earn 10-12 Man/month (equivalent to 16-19 million VND), while an international student only needs to work 4 hours/day to earn 13-15 Man/month (equivalent to 21-24 million VND).



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