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The Unemployment Insurance Fund plans to pay out 1.15 trillion VND (49.15 million USD) to support labourers affected by the COVID-19 pandemic, according to a resolution issued by the National Assembly (NA) Standing Committee.

Businesses seek to easily access US$15 billion bailout package

Businesses that have borne the brunt of the COVID-19 pandemic for the past two years expect they will get easy access to the recently approved US$15 billion bailout package to stay afloat.

Vietnam speeds up disbursement of economic recovery package

Vietnam will soon disburse at least 50 percent of the VND350 trillion economic recovery package, the largest in its history, aiming to reboot the country’s economy after a long period of social and mobility restrictions due to the COVID-19 pandemic.

2022: A year to ‘live with’ and to ‘overcome’ the pandemic

The year 2022 will not only be the time to live with but overcome the Covid-19 pandemic with a proactive attitude. 

Experts suggest banks not be involved in economic recovery packages to avoid bad debts

Though businesses need the Government’s economic recovery packages to rebound from the pandemic, the Government should consider limiting the participation of commercial banks in the packages to help them avoid bad debt risks, experts suggest.

Government must carefully manage financial support for businesses: experts

The Government needs to carefully monitor and outline economic stimulus packages to assist businesses affected by the pandemic to quickly recover the national economy, according to experts.

 

Pumping money to restore the economy: time is running out

Without solutions to support the economy, the average growth rate in the 2021-2025 period is forecast to only reach 5.4%/year, lower than the target set from 6.5-7%/year.

Economic recovery: expectations and warnings

The Government has submitted to the National Assembly a fiscal and monetary policy scheme to support socio-economic recovery and development, including a proposed support package worth nearly VND347 trillion.

Gov’t identifies focuses to obtain this year’s targets

The Government has issued Resolution No. 01/NQ-CP on the main tasks and solutions for implementing the socio-economic development and State budget plans for 2022.

Gov’t proposes US$15 billion economic recovery program

The Government has submitted to the National Assembly for approval of an economic recovery and development program worth nearly VND350 trillion (US$ 15 billion) for the 2022-2023 period. 

Authorities inject trillions of VND to support economy

The State Bank of Vietnam (SBV) and the State Treasury of Vietnam have injected hundreds of trillions of Vietnamese dong into the market through foreign currency purchases from commercial banks.

Unprecedented welfare packages launched in 2021

A number of welfare packages worth trillions of dong were launched to help workers, employers, Covid-19 patients and others during the pandemic.

Banks earn huge profits, businesses wait for interest rate cuts

Many businesses are disappointed with the move of private joint stock commercial banks, which cite a fear of a sharp drop in profits.

 

Support packages should be spent on health and business recovery: experts

Vietnam's fiscal support package needs to contain the pandemic and minimise health and economic impacts, so it will be necessary to give priority to spending on health, social security and support for the business sector.     

HCM City to provide low-interest loans to landlords to help them upgrade boarding houses for workers

The HCM City Department of Construction has suggested that the city offer financial assistance to landlords to help them repair or upgrade their boarding houses where hundreds of thousands of workers live in the city.

The stimulus package and the views of NA deputies

Information on the interest rate support package to stimulate demand for the next two years has stirred mixed reactions from National Assembly deputies, which is similar to what happened to the US$1 billion stimulus package in 2009.

 

Unprecedented times call for new consensus to overcome challenges

The current challenges require an unprecedented consensus to overcome it, said former Director of the Central Institute for Economic Management Nguyen Dinh Cung.

Banks reduce over 536 million USD worth of interest rates for pandemic-hit borrowers

Sixteen banks in Vietnam reduced a total of VND12.23 trillion ($536.2 million) in interest rates for borrowers affected by the COVID-19 pandemic from July 15 to September 30, equivalent to 59.36% of their commitments.

Banking sector promises sufficient funding for businesses post-pandemic

The banking sector will provide enough credit to businesses at supportive interest rates this quarter to help revive them, according to the State Bank of Vietnam’s Ho Chi Minh City branch.

Vietnamese enterprises need cash to revive

Nguyen Quoc Ky, Chairman of Vietravel, a big tourist company in Vietnam, said that due to the impact of the 4th wave of Covid-19 epidemic, the entire tourism industry of Vietnam has been closed since May 2021.