Hanoi (VNA) – In response to the negati♛ve impact of the COVID-19 pandemic, Vietnam issued a host of policies to support businesses, employees and citizens to maintain production and ensure employment and social security, according to Deputy Minister of Labour, Invalids and Social Affairs Le Van Thanh.

They include regulations on the temporary suspension of contributions to the retirement and survivorship fund, a reduction of payment for labour-related accidents and occupational injury insurance as well as offering vocational training for those who were affected by the pandemic.

In 2021 alone, the total funding to support three insurance policies under Resolution No. 68/NQ-CP and Resolution No. 126/NQ-CP was about 6 trillion VND (254.7 million USD). Nearly 400,000 employers and 12 million workers benefited from the fund.

The policy on helping employees benefit from the Unemployment Insurance Fund is notable for a number of reasons, the official said, adding that it has so far provided assistance to more than 13 million employees with an amount of 38 trillion VND.

For those who ar𝓡e not eligible for social security beneficiary in line with current regulations, the Government and the Prime Minister have promptly devised and promulgated policies to supply timely assistance to vulnerable people with the goal of ensur🦩ing that "no one is left behind".

During the economic recovery period, to assist workers with housing and businesses with employee retention, the PM has issued Decision No. 08/2022/QD-TTg dated March 28, 2022, that covers housing rental support for employees with a budget of more than 3.7 trillion VND, according to Thanh. Since 2021, over 87 trillion VND has been spent to support 55.68 million people, workers and nearly 1 million employers who face difficulties due to the COVID-19 pandemic. Appreciating Vietnam’s efforts to implement support programmes given the country’s limited State budget, Dr. Jonathan Pincus, senior economist of the United Nations Development Programme (UNDP), said that the implementation of cash support packages for people is a “killing two birds with one stone” solution. The cash support not only helps people who are struggling with income loss but also boosts Gross Domestic Product (GDP) growth by increasing household consumption, he noted.    

The economist also underlined the need to apply information technology in the implementation of upcoming support policies, saying that Vietnam's social protection system needs to be modernised to help people cope with economic risks, natural disasters and maintain their living standards even in the most difficult times. Experience from the COVID-19 pandemic revealed weaknesses in social assistance and social protection systems, he pointed out.

Concurring with the UNDP economist, Thanh said that the building of databases and information technology is very necessary and plays a vital role in policy-making, defining support groups and carrying out policies in a timely manner.

In the near future, the Ministry of Labour, Invalids and Social Affairs will propose new policies to improve the quality of life of employ🌄ees and ensure social security for them to help enterprises expand business, he added./.