Thousands of businesses have suspended their operation or filed for dissolution because of Covid-19, causing tens of thousands of workers to become redundant. The Ministry of Labor, War Invalids and Social Affairs (MOLISA) reported that 22,700 businesses temporarily stopped operation in the first four months of 2020, an increase of 33.6 percent over the same period last year. Nearly 14,000 businesses have stopped operation following procedures to be dissolved, while 5,277 businesses have announced dissolution and 5,776 businesses are following procedures for dissolution with tax agencies. In the first five months of 2020, the HCM City Department of Planning and Investment completed procedures to dissolve 2,015 businesses, an increase of 16.4 percent over the same period last year. In the first five months of 2020, the HCM City Department of Planning and Investment completed procedures to dissolve 2,015 businesses, an increase of 16.4 percent over the same period last year. Since the beginning of the year, 7,257 businesses in the city have halted operation, up by 40 percent compared to the same period. Le Ha Vietnam faces highest unemployment for a decade As of June, 30.8 million people aged over 15 have been laid off, lost jobs or got fewer… Read full this story
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