Tag: support package

Packages are similar to those in 2022 to help citizens and businesses overcome post-pandemic difficulties.

The government has urged the central bank to quickly amend and supplement unsuitable regulations to boost disbursement from the package.

The Ministry of Labor, Invalids and Social Affairs (MoLISA) has said that nearly VND3.54 trillion ($147.6 million) has been disbursed out of a total of VND6.6 trillion ($275.24 million) in rental support for more than 5.1 million workers, or 54.53 per cent of the original target. The government issued Decision No. 08/QD-TTg in March on rental support for workers affected by Covid-19.

Figures show that as of August 25, local social insurance agencies had provided support from the Unemployment Insurance Fund to more than 339,000 employees totaling more than VND963 billion ($40 million). Nineteen of Vietnam’s 63 cities and provinces have completed implementing the support package from the Unemployment Insurance Fund.

Ho Chi Minh City is planning to spend nearly VND1.8 trillion ($76.9 million) on rental support for nearly 1.8 million workers, but has so far disbursed only VND104 billion ($4.47 million) to nearly 196,000 workers, or just 5.8 per cent of the support package.

After three months of implementation, the “Social Impact Business (SIB) Support Package to Respond to Covid-19” has selected 29 SIBs in the agriculture and tourism sectors for support over six months and granted them VND100 million ($4,275) each to test and perfect innovative business models and replicate the potential social impact.

Vietnam appears to be recovering quite slowly from the pandemic, and without a sufficiently large support package will fall behind. Many economists have therefore proposed economic support packages for 2022 and 2023 totaling VND445.76 trillion ($19.5 billion), or nearly 5.5 per cent of GDP.

Nearly 24 million employees hit by Covid-19 have been given a total of VND21.89 trillion ($961.76 million) out of a support package of VND26 trillion ($1.14 billion). The Unemployment Insurance Fund has also supported more than 540,000 workers affected by Covid-19, with a total amount of VND1.25 trillion ($54.92 million).

Social insurance agencies had confirmed a list as of September 17 of more than 1.2 million employees with over 38,200 employers that can benefit from a support package totaling VND26 trillion ($1.14 billion).

Employers, vocational training centers, and workers affected by Covid-19 will benefit from a support package of VND4.5 trillion ($196.89 million) for training, improving vocational skills, and maintaining jobs. Certain conditions and standards must be met to access the package.