Support packages for enterprises and workers need to be deployed soon

08/04/2020, 10:29

According to estimates by the International Labour Organisation, as many as 25 million people could become unemployed, with a loss of up to US$3.4 trillion in workers’ income due to the impact of the COVID-19 pandemic. In Vietnam, the epidemic has caused a number of businesses to narrow or stop production whilst many workers have lost their jobs.

Among the six policy groups proposed to the Government by the Ministry of Labour, War Invalids and Social Affairs (MoLISA) to support enterprises and workers, it can be seen that unemployment insurance support is one of the most important policy groups in need of being“activated” soon.

A report by the MoLISA shows that, in early March, when the Covid-19 epidemic had complicated developments, over 15% of businesses had to cut their production scale. The impact of the Covid-19 epidemic on labour and employment is also reflected through the unemployment insurance index.

Labourers carry out procedures for receiving unemployment insurance benefits at the Hanoi Job Service Centre. (Photo: NDO/Xuan Cuong)

The number of unemployed people who applied for unemployment insurance in February hit 47,164, an increase of 59.2% compared to January (29,839 people) and up 70% over the same period last year.

According to the proposal from MoLISA, the unemployment insurance policy group focuses on three main contents, including creating conditions for all enterprises and employees to temporarily suspend payment of unemployment insurance; completely exempting unemployment insurance for those who lost their jobs due to the impact of the COVID-19 epidemic; and using the surplus of the unemployment insurance fund to support businesses and workers such as training and retraining to improve their qualifications, capacity and skills.

The draft Government Resolution to support people facing difficulties caused by the COVID-19 epidemic was reviewed and discussed by the Government at its regular meeting in March.

Following the Prime Minister’s direction and conclusion at the meeting of permanent Government members on March 31, the Ministry of Planning and Investment is currently coordinating with the Government Office, the State Bank of Vietnam and relevant ministries and branches to complete the draft Government Resolution on measures to support people who are facing difficulties caused by the Covid-19 epidemic.

Along with a number of specific target groups, groups of workers and employers are given particular attention. Accordingly, workers who were laid off or put on leave without pay due to the direct impacts of the COVID-19 pandemic will each be provided with VND1.8 million (US$76) a month.

A monthly payment of VND1 million paid for three months will be given to an estimated five million workers who either lost their jobs, don’t have a labour contract or had their contracts terminated as their social insurance contribution period was not sufficient for unemployment benefit payout.

Employers can borrow from the Vietnam Social Policy Bank with a zero interest rate over 12 months to pay salaries for their furloughed workers in the three-month period.

Those eligible for more than two types of support in this bill will only be able to receive the highest value support. There will also be policies in place to help simplify the process of claiming unemployment support for workers.

Employers and employees will also temporarily be exempt from their obligatory contributions to the retirement and survivors’ fund (part of the Government-sponsored insurance programme).

More than half of the package’s value will be sourced from the State budget, while the remainder will come from “mobilisation of other sources,” according to the Government.

Speaking at the meeting, PM Nguyen Xuan Phuc emphasised that the Government highly supports the draft package and ordered measures be put in place to ensure the transparency of the implementation, that there would be no fraud, and that the support will go to the right people.

Source: NDO


Related articles

(0) Comments
Focus
Farewell to the “Bavarian Giants”
BTO-After a courageous 2-1 victory in the first leg of the Champions League quarterfinals, Inter Milan returned home to host Bayern Munich in the second leg. Though a one-goal lead was far from secure, the Italian side left no room for a comeback. With a 4-3 aggregate win, Inter officially booked their spot in the semifinals and ended Bayern’s campaign.
Do not miss
  • Regaining the Top Spot
    one month ago Sports
    Playing a day before their arch-rivals Barcelona, Real Madrid took full advantage of the opportunity to reclaim the top spot in La Liga with a comfortable 2-1 victory over Villarreal, thanks to a brace from Mbappe.
  • A Hard-Fought Victory
    one month ago Sports
    BTO-On the evening of March 19, the Vietnam national team played their first international match since winning the AFF Cup 2024, hosting Cambodia in a friendly at Gò Đậu Stadium (Bình Dương). Given their superior standing, a victory...
  • Farewell to the "King of Cups"
    one month ago Sports
    BTO-After suffering a 1-0 home defeat in the first leg of the Champions League Round of 16, the French football powerhouse PSG was under immense pressure to win the return leg away at Liverpool. And they did just that, securing a place...
  • Surrendering the Title
    one month ago Sports
    BTO- The highlight of Premier League Matchweek 28 was the showdown between Manchester United and Arsenal at Old Trafford. Arsenal desperately needed a victory to keep up with Liverpool, but they could only manage a draw, while the league...
  • Even Djokovic Can’t Defy Time
    one month ago Sports
    BTO-Novak Djokovic has just suffered a defeat against Botic Van De Zandschulp in the second round of  Indian Wells 2025, marking the first time in seven years that he has lost three consecutive matches. At 37 years old, Djokovic is...
  • Binh Thuan Province to cooperate with Sun Group to unlock its Tourism Strengths
    BTO – On early March, the Standing Committee of the Provincial Party Committee and the People's Committee of Binh Thuan Province held a meeting with Sun Group regarding investment cooperation.
  • The King Has Fallen: Man Utd Crash Out of FA Cup
    one month ago Sports
    Recently, Manchester United’s FA Cup title defense came to a crushing end as Fulham stunned the Red Devils in a dramatic penalty shootout to secure their place in the quarterfinals. Heading into the fifth-round clash at Old Trafford,...
  • Sunset Slope: Phan Thiet’s Hidden Gem for Breathtaking Views
    one month ago LANDSCAPES
    BTO – Still in the heat of the first two lunar months, Sunset Slope on Co Mountain has become a renowned sunset-watching spot in Phan Thiet. Located in Phu Hai Ward, this stunning location offers breathtaking views of the mountains...
  • Victory Seals the Throne
    one month ago Sports
    BTO-After suffering a loss in the first leg at home last week, Manchester City finds itself in a tough spot in its quest for a spot in the Champions League Round of 16 against Real Madrid. This defeat marked their first loss to Madrid...
  • Tough game Alonso!
    one month ago Sports
    BTO-The Round 22 Bundesliga showdown between Bayer Leverkusen and Bayern Munich was one of the most anticipated of the season. On one side, there were the defending champions, and on the other, the league leaders. Bayern entered the...
  • Back to the Top for Barcelona
    one month ago Sports
    BTO-Before taking on Rayo Vallecano, Barcelona had the chance to claim the top spot in La Liga after both Real Madrid and Atletico Madrid were held to 1-1 draws in Round 24 (Real drew with Osasuna, Atletico drew with Celta Vigo). The...
  • Bayern Munich's Roar
    one month ago Sports
    Bayern Munich were strong favorites against Celtic in their Champions League play-off. Despite being the away team, Vincent Kompany's side comfortably won 2-1, securing an advantage for the return leg at Allianz Arena.
  • Binh Thuan: 7 OCOP 4-star products recognized and re-recognized
    2 month ago Business
    BTO – Binh Thuan provincial People's Committee has lately approved the evaluation results and issued certificates for 7 products in the first and second batches of 2024 for OCOP 4-star products.
  • Binh Thuan’s dragon fruit on display at an exhibition in Germany
    2 month ago Business
    BTO- Binh Thuan dragon fruit will be present at the Fruit Logistica Berlin fruit and vegetable exhibition took place in Germany from February 5 to 7, 2025.
  • Red and Blue: Manchester’s Double Disaster
    2 month ago Sports
    BTO-Recently, the two “powerful” football teams from the country of Man UTD and Man City both endured heavy defeats. MU lost at home to Crystal Palace with a score of 0-2. Meanwhile, Man City was hammered 5-1 by Arsenal on their ground....
  • Binh Thuan welcomed around 220,000 visitors during the Tet holiday
    2 month ago Travel
    BTO-According to the Department of Culture, Sports, and Tourism of Binh Thuan, the province received approximately 220,000 visitors during the 9-day Lunar New Year holiday, marking a 10% increase compared to last year’s traditional...
  • A New Rising Star
    3 month ago Sports
    BTO-Joao Fonseca, a tennis player ranked 145th in the ATP standings, has caused a stir in the global tennis community after winning the 2024 Next Gen ATP Finals with the lowest ranking among the players in the tournament. With a mature,...
  • The Fall of the Giants
    3 month ago Sports
    BTO-Both "giants" Liverpool and Arsenal recently played their Carabao Cup semi-final first-leg matches. While Liverpool faced Tottenham, Arsenal hosted Newcastle. Both teams suffered defeats—Liverpool lost 0-1 to Tottenham, and Arsenal...
  • A Precious Point at Anfield
    3 month ago Sports
    On the last day of 2024, Manchester United suffered a 0-2 defeat against Newcastle at "The Theater of Dreams," Old Trafford. This was their fourth consecutive loss in the Premier League. The "curse" seemed far from over for Man Utd...
  • Lionel Messi Honored with the Presidential Medal of Freedom
    3 month ago Sports
    BTO-In the early days of 2025, Lionel Messi received a prestigious honor when U.S. President Joe Biden awarded him the Presidential Medal of Freedom. This civilian award, the highest in the United States, might have been a surprise,...
POWERED BY ONECMS - A PRODUCT OF NEKO
Support packages for enterprises and workers need to be deployed soon