The adjustment aims for greater flexibility, with the threshold to be raised to approximately VND1 billion ($38,000) to reflect economic realities, support household businesses, and ensure budget balance.
Though results indicate a degree of recovery momentum in Q1 and March, ongoing global headwinds continue to pose concerns for Vietnam macro-economic situation.
Having applied a national multi-dimensional poverty line in 2015, Vietnam has been a pioneer in the Asia-Pacific region in applying the line as a tool for targeting and monitoring poverty and policy formulation. However, the poverty that exists among ethnic minorities and people living in some coastal and island areas is a challenge for Vietnam in achieving the sustainable development goals.
The Ministry of Labor, Invalids and Social Affairs (MoLISA) has said that Vietnam’s labor market is experiencing uneven development and an imbalance in supply and demand between localities and sectors. Many localities boast industrial parks and export processing zones but only have a small population and workforce. Other localities are focusing on attracting investment but are not capable of handling larger numbers of workers.
The Quang Nam Provincial People’s Council has approved two investment projects with total capital of nearly VND300 billion ($12.76 million) to build or upgrade five district health centers and build, upgrade, or purchase equipment for 76 commune health stations. Implementation is from 2022 to 2023.
After 20 years of offering preferential credit policies for the poor and policy beneficiaries under government resolutions, more than 326,000 poor and near-poor households and beneficiaries in northern Bac Kan province have obtained production loans. Policy credit has contributed to a significant reduction in poverty over the years.
After 25 days of implementing a Resolution from the National Assembly on the payment of support for employees who have submitted unemployment insurance claims, nearly 359,000 have received support from the Unemployment Insurance Fund totaling more than VND1 trillion ($42.7 million). Twenty-eight localities have completed all payments.
Some 153,523 jobs were created in Hanoi in the first eight months of 2022, representing 96 per cent of the annual plan and 38,728, or 33.7 per cent, more jobs than were created in the first eight months of 2021. The Hanoi Department of Labor, Invalids and Social Affairs has forecast that the recruitment needs of businesses will be focused on office, sales, and production staff, electronic component assembly, and other fields.