More than 6.5 million people have received unemployment benefits in the ten years of implementing the unemployment insurance policy under the Law on Employment, said Deputy Head of the Ministry of Labor, Invalids and Social Affairs’ Employment Department, Nguyen Thi Quyen.

Figures show that the policy has also introduced jobs to 13.25 million people, supported vocational training for over 252,000 people, and helped maintain employment for 3,200 workers at 32 units.

The remaining balance of the Unemployment Insurance Fund stood at VND59.37 trillion ($2.54 billion) as of December 31, 2022.

According to Ms. Quyen, though the amount is significant, it will be insufficient if divided into smaller policies for support.

“If we use the fund to develop effective policies such as supporting training for businesses that have to change production lines or business fields, it will help prevent temporary unemployment,” she said.

“And we need to be very cautious about advising and planning how to use the fund appropriately and achieve the greatest effectiveness,” she added, saying that the Law on Employment also sets strict criteria on gaining access to this source of State capital.