Amid the impact of COVID-19, as many as 10,400 businesses completed procedures for dissolution in the first eight months of the year.
The General Statistics Office (GSO) has reported that 34,300 businesses registered to suspend their operation for a definite time, while 24,200 businesses stopped operations. All the figures were higher than the same period last year.
|At least 72 percent of businesses said they did not have money to pay workers, social insurance, health insurance, unemployment insurance, and trade union fees. They also lacked money to pay bank loan interest, buy materials, and lease storehouses, workshops and offices.|
At least 72 percent of businesses said they did not have money to pay workers, social insurance, health insurance, unemployment insurance, and trade union fees.
They also lacked money to pay bank loan interest, buy materials, and lease storehouses, workshops and offices.
If its big economic partners such as the US, EU, Japan and South Korea are still struggling to fight the pandemic, the demand will continue to be weak. As Vietnam's businesses cannot get new orders for export, the number of redundant workers will continue to increase.
In the worst scenario drawn up by the Ministry of Labor, War Invalids and Social Affairs (MOLISA), the number of businesses suffering from the pandemic could reach 70 percent in the time to come, and 60,000-70,000 jobs would be lost each month. It is estimated that 3.5-5 million workers may be suspended.
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