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Vietnam allocates over US$15 billion for Covid-19 fight in 2020-2021

Since 2020, Vietnam has faced four outbreaks of Covid-19, for which the government has mobilized resources to help businesses and people overcome the impacts of the pandemic.

The Vietnamese Government has allocated over VND351 trillion (US$15.1 billion) and 142,000 tons of rice for localities in the fight against the Covid-19 pandemic during the 2020-2021 period.

A quarantine zone in Hanoi during the fourth outbreak last year. Source: MoH

The State Audit of Vietnam (SAV) revealed the figures in a report submitted to the National Assembly.

According to the agency, since 2020, Vietnam has faced four Covid-19 outbreaks, for which the Government has mobilized resources to aid businesses and people in overcoming the pandemic impacts.

In line with financial support, the Government also offered tax relief worth a combined VND183 trillion ($7.9 billion) for the business community.

The State Bank of Vietnam (SBV), the country’s central bank, has instructed banks and credit institutions to write off debts and restructure debt payments worth over VND91.4 trillion ($4 billion) for nearly 470,000 customers.

Banks have also forgone profit of VND37 trillion ($1.6 billion) by cutting interest rates for customers and waiving transaction costs for businesses and people conducting online payments for a total of VND2.3 trillion ($100 million).

In 2020, the Government issued Resolution No.42 on economic recovery and granting welfare, for which social vulnerable groups received a total of VND14 trillion ($604 million) in cash support.

Such a policy was extended until 2021 under resolution No.68 with a support amount of VND14 trillion. - Hanoi Times

In 2021, Hanoi’s authorities have provided financial support worth VND6.6 trillion ($285 million) for 5.35 million people suffering the Covid-19 impacts. Hanoi along with Ho Chi Minh City was among those hardest hit by the fourth outbreak last year. 

Source: Hanoi Times

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