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The Hanoitimes - The central bank is willing to support liquidity for credit institutions, if needed, as they start providing financial support for the economy. Representatives of banks in Vietnam said they are committed to supporting enterprises and customers hurt by the new coronavirus (nCoV) outbreak, by lowering interest rates and restructuring debt maturities, among other measures, the governmental portal reported. Overview of the meeting. Source: VGP. The move was in response to a proposal by the State Bank of Vietnam (SBV), the country’s central bank, in a meeting on February 6 discussing measures to support the economy hit by the epidemic. Vice Governor of the SBV Dao Minh Tu said the bank is willing to support liquidity for commercial banks if needed, while lenders should be proactive in offering respective supporting programs to enterprises and individuals, particularly those operating in the fields of tourism, agriculture and trade. Pham Toan … [Read more...] about Vietnam banks pledge to support business sectors hit by nCoV

That was announced at the meeting with Deputy Chairman of the municipal People’s Committee Vo Van Hoan yesterday upon approval of the department’s plan. In addition to job creation, the Department planned to provide vocational training for 371,000 students as well as offering 300,000 jobs to employees and reduce poverty households by 0.4 percent. At the meeting, Mr. Hoan requested the Department to support foreign experts who are working for companies in the city by allowing them to enter Vietnam as soon as possible but still follow Covid-19 preventative measures. Simultaneously, the Department must take heed of training to workers and enhance connection between skilled employees with employers to satisfy enterprises’ demand of high quality workers. Additionally, the Department must pay attention to job creation for former drug addicts and apply friendly management in drug rehabilitation facilities. By Manh Hoa - Translated by Dan Thuy … [Read more...] about HCMC sets target of creating 140,00 new jobs in 2021

The Hanoitimes - With a projected contraction of the nation’s labor force by 5% by 2040 due to an aging population, the challenge for manufacturers will be to attract and retain quality workers. Providing childcare for employees has a positive impact on Vietnamese businesses, improving recruitment, retention, and worker productivity, according to a report released today by IFC, a member of the World Bank Group. The export-oriented manufacturing sector has been a key driver of economic growth and job creation in Vietnam, particularly for women who make up over 80% of the sector’s labor force. The business benefits of employer-supported care in Vietnam. Source: IFC. While the global Covid-19 pandemic has impacted demand, the manufacturing industry is well-positioned for the recovery and further growth. With a projected contraction of the nation’s labor force by 5% by 2040 due to an aging population, the challenge for manufacturers will be to attract and retain … [Read more...] about IFC promotes employer-supported childcare in Vietnam to boost workforce efficiency

Vietnamese Ambassador to Belgium Vu Anh Quang (R) presents a souvenir to a member of the Vietnamese community in the European country (Photo: VNA) Brussels (VNA) – The Embassy of Vietnam in Belgium held a get-together with overseas Vietnamese on March 4 to celebrate the Lunar Year of the Buffalo . At the event, Ambassador to Belgium Vu Anh Quang extended his greetings to the local Vietnamese community, and voiced his encouragement to the community after a year full of hardships caused by COVID-19 , while expressing his gratitude for their activities in support of the homeland. Quang, who is also head of the Vietnamese mission to the EU, also informed the participants on future activities, along with the results of the fight against COVID-19 in Vietnam, the country’s socio-economic development and success of the 13th National Party Congress which took place before Tet (Lunar New Year) festival. Despite difficulties, the association of Vietnamese people in … [Read more...] about Embassy hosts New Year gathering with overseas Vietnamese in Belgium

The target was set forth in the National Strategy on Gender Equality for the 2021- 2030 period recently adopted by the government. The strategy also defined a number of new goals for the country to further make progress in gender equality in various areas and fulfil its Sustainable Development Goals (SDGs) by 2030. Accordingly, the number of paid women employees in Vietnam will increase to 50 percent by 2025 and around 60 percent by 2030, while the percentage of women working in the agriculture sector among all employed women will decline to below 30 percent by 2025 and less than 25 percent by 2030. The rate of female directors or owners of businesses is expected to reach at least 27 percent by 2025 and 30 percent by 2030. The country also aims to reduce the average time women spend on doing the unpaid housework to 1.7 times by 2025 and 1.4 times by 2030 as compared to that of men. By 2025, 80 percent of women suffering from domestic and gender-based violence will be given … [Read more...] about Vietnam issues new national strategy on gender equality