Proposal to spend 6,000 billion VND to retrain workers

On March 16, Mr. Tran Tuan Tu, Head of the Unemployment Insurance Department, Department of Employment (Ministry of Labor, War Invalids and Social Affairs) said that in March the Ministry will submit to the Government a policy to support and improve qualifications.

The Ministry of Labor proposed to deduct 6,000 billion VND from the Unemployment Insurance Fund to retrain workers at risk of losing their jobs due to the impact of the pandemic in businesses.

Workers line up to get unemployment benefit application forms at the Hanoi Employment Service Center, June 2020.

Enterprises applying this policy must meet the following conditions: Pay full unemployment insurance for employees continuously for 12 months or more up to the time of requesting support;

Enterprises wishing to submit dossiers to the Ministry of Labor, War Invalids and Social Affairs for consideration and decision.

Covid-19 has forced many businesses to change their structure, production technology and cut labor.

By the end of 2020, the Unemployment Insurance Fund still had a balance of about VND 84,000 billion.

The Vietnam Chamber of Commerce and Industry (VCCI) and World Bank surveyed over 10,200 businesses nationwide and found that nearly 90% of businesses were greatly or completely negatively affected by Covid-19.