Support package

Only 10 per cent of enterprises have been able to benefit from the support packages while more than 80 per cent have not been able to access them due to many reasons, he told a online seminar titled “Accompanying Businesses to Respond to Risks from the COVID-19 Crisis" held on September 10. … [Read more...] about Procedural bottlenecks prevent businesses from benefiting from Government support packages

The figures were announced at the meeting of the executive committee of HCM City Federation of Labour on July 23. In the first six months, a total of 15,200 firms had to scale down business, cut staff or go bankrupt. As a result, 150,000 employees were laid off, had their salaries cut or lost jobs. Most of them are in the service and manufacturing industry because of the lack of materials and customers. The city authorities, organisations and individuals have launched many programmes to help the employees to overcome difficult times. HCM City Federation of Labour supported over 18,000 members with individual payments of VND1.2m (USD52) each. They also encouraged landlords to lower rent for over 57,600 rooms and waive the fees for 200 rooms when firms had to scale down businesses. They also worked with the Department of Labour, Invalids and Social Affairs and the Vietnam Association of High-Quality Goods to provide 7,000 meals to the workers who lost their jobs due to Covid-19 from … [Read more...] about HCM City unions provide post-Covid-19 support

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. … [Read more...] about 10,000 businesses dissolved, thousands of others in danger

Well over half also reported falling pre-tax profits, with 31 percent saying they fell significantly or even suffered losses, according to the report released on Thursday by market research firm Vietnam Report (VNR). … [Read more...] about Covid-19 takes heavy toll on Vietnamese firms’ incomes: survey

From the perspective of the Vietnamese government, Japanese businesses are highly regarded as a community of committed and trustworthy investors who deliver significant efficiency in their business operations, notable contributions to the public budget, as well as environmental protection awareness and responsibility to workers’ living standards. … [Read more...] about Japanese enterprises mull over relocation of manufacturing to Vietnam