More than 547,100 workers, including 545,000 domestic and 1,600 foreign workers, at Japanese businesses in Vietnam are taking part in the country’s social insurance system.

The collection of social insurance premiums from these firms, which number 2,100, accounts for over 13 per cent of total contributions by FDI businesses in Vietnam.

The figures were reported at an October 24 dialogue held by Vietnam Social Security with Japanese FDI businesses in Vietnam on the implementation of social insurance and health insurance.

Facing difficulties during and post-Covid-19, FDI enterprises, including those from Japan, have carried out a range of solutions to maintain and develop production and business and retain employees, while making significant contributions to Vietnam’s socio-economic recovery and development, Vietnam Social Security Director General Nguyen The Manh said.

“The majority of Japanese businesses strictly abide by Vietnam’s policies and laws, including laws on social insurance and health insurance,” he added.

Addressing the gathering, Ambassador of Japan to Vietnam, H.E. Yamada Takio, said the number of Japanese investors in the country has risen year after year.

In 2023, the Japanese Business Association in Vietnam’s membership reached 2,000 companies, making it the largest such Association in ASEAN and the second-largest in the world, Ambassador Takio said.

He also noted that with rising direct investment from Japan into Vietnam it is necessary for Japanese companies to understand and effectively implement Vietnam’s social insurance regulations and policies to ensure the legitimate rights and benefits of their employees.