Hanoi  Social Insurance has set a deadline of May 5 for 10 businesses in the city that owe social insurance premiums for a long time to pay up.

At a dialogue between the agency and the businesses held on April 4, Vu Duc Thuat, deputy director of  Hanoi Social Insurance said the enterprises must pay on time or the agency would report the case to the police.

The total debt of these businesses amounts to VNĐ22.4 billion (nearly US$982,000), affecting the benefits of about 390 workers.

These enterprises have owed debts ranging from VNĐ300 million to VNĐ6 billion between seven months and 55 months.

At the meeting, representatives of the enterprises gave reasons for the delay in paying the debts.

Most of them operate in construction and transportation so they have difficulties in getting back invested capital, according to the representatives.

Despite the fact that many hydropower projects had been completed and handed over to investors, a representative from Balkal Commercial and Technology Company said the enterprise hadn’t received payment from investors.

Representatives of the 10 enterprises have committed to repay the debt as soon as possible.

Earlier in January, authorities in Hanoi ordered the city’s inspectors to inspect 80 enterprises with long overdue social insurance premiums.

Inspections were conducted in January at 40 enterprises, retrieving more than VNĐ3.7 billion ($162,500) or 21 per cent of the total debt owed by these companies (more than VNĐ17 billion or $746,620).

Of the 80 enterprises on the inspection list, 32 have paid off their debt amounting to some VNĐ11.1 billion ($487,500). — VNS