Society

According to Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung, Vietnam’s labor market is experiencing a partial imbalance in supply and demand as well as uneven development due to an excess of under-qualified and low-skilled workers and a shortage of high-quality human resources. If the latter is not improved, Vietnam will gradually lose its appeal among foreign investors.

Vietnam’s labor market has recovered relatively well but shortages are still being seen. It has been forecast that there will be a serious shortage of high-quality human resources in finance, information technology, and logistics.

Vietnam currently has over 500 enterprises in the field of labor exports, which send more than 100,000 workers each year to 40 countries and territories, helping bring in remittances of more than $3 billion per year.

By August 19, eight days after implementation began, the VND1.1 trillion ($47 million) package from the Unemployment Insurance Fund to assist workers has helped more than 298,000 workers. The amount spent stands at nearly VND845 billion ($36 million), or 72 per cent of the plan.

At the “Solutions to overcome the shortage of drugs and medical supplies” seminar organized by the Government Portal on August 12, analysts said that drug shortages are quite a problem and need to be addressed immediately. One key solution is to review and amend legal issues related to bidding.

At an August 12 meeting to spur the implementation of the policy on housing rental support for employees, which is currently disbursing funds quite slowly, Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung said the country must basically complete disbursement by August 30, except for Ho Chi Minh City, which accounts for nearly one-third of beneficiaries, with full disbursement to be completed by early September.