In addition, the social insurance industry has sent a list of employees entitled to support to 68,886 enterprises to review the information of employees as a basis for payment of support from the unemployment insurance fund.

The number of employees having procedures handled and receiving support from the unemployment insurance fund is 4,573 people, which is correspondingly over 13.16 billion VND.

VSS's leaders checking the payment of support for employees from unemployment insurance fund at Saber Vietnam Joint Stock Company (Hanoi)

In order to create the most favorable conditions for employees and employers, the Vietnam's social insurance industry advocates to diversify and flexibly conduct document transactions to deploy support policies according to the beneficiary's choice, helping employees and employers access policies most favorably and in the shortest time.

Illustrative image (VSS)

On the basis of the available data base and IT management system, VSS has minimized administrative procedures, as well as shortened the time to carry out procedures with employees and employers. Accordingly, it has been shortened by 5-10 days compared to the provisions in Decision No. 28/2021/QD-TTg of the Prime Minister.

After the first 3 days of implementing the policy to support workers and businesses from the unemployment insurance fund and especially during the two weekends, most of the 63 provincial and municipal social insurance agencies have mobilized forces, arranged staff and officials to actively review data, and make a list of employees eligible for support from the unemployment insurance fund to send to enterprises for review and additional information provision. According to the process, when the enterprise sends a list of employees with additional information, especially information about ATM accounts, the social insurance agency will quickly transfer the support money to the employees according to the levels corresponding to the time of participation in unemployment insurance.

At the same time, notices of reducing contributions to the unemployment insurance fund have also been sent to businesses.

The work contents are being deployed by the whole social insurance industry with the most urgent spirit in order to bring support policies from the unemployment insurance fund to employees and businesses as soon as possible.

Employees and employers are excited about the support package.

Sharing with us, Mr. Bui Duc Hiep - Director of The Second Zone Maritime Pilotage Single-member Limited Liability Company (Hai Phong) said that his business of 191 employees has been notified to reduce unemployment insurance premiums. Resolution 116 has helped enterprises have more resources to maintain production, ensure stable life for employees; Regarding the procedures for enjoying policies according to Resolution 116, the social insurance agency provided instant support. "This morning, my account also received support from the unemployment insurance fund transferred by the social insurance agency. That was really fast, because today is the first day of implementing the policy," said Mr. Bui Duc Hiep.

With a larger scale of nearly 2,500 employees, Port of Hai Phong Joint Stock Company is also one of the employers to receive support and reduction of unemployment insurance contributions on the first day. Mr. To Dinh Son - Chairman of Trade Union of Port of Hai Phong Joint Stock Company said: Resolution 116 of the Government has actively supported businesses and employees, helping us to reduce difficulties in the context of the complicated epidemic; Currently in our unit, employees have received support from the unemployment insurance fund transferred to their account by the social insurance agency. The employees were feeling glad. Especially, for businesses, the reduction of unemployment insurance contributions helps us reduce costs, get resources to overcome difficulties in the context of many pressures due to supply chain disruptions; The reduced amount also helps us get funding to continue to carry out more effective epidemic prevention in the coming time, Mr. Son said.

Ms. Nguyen Thi Hoan (May Chai ward, Ngo Quyen district, Hai Phong) knows about the support policy from the unemployment insurance fund through information on the news program. Having read them on the website of the Hai Phong Social Security Office, she were able to get more detailed information.

However, she did not expect to receive a message from the agency about coming to receive benefits right on October 1, the first day of policy implementation.

Immediately after receiving the support, Ms. Nguyen Thi Hoan said that her unemployment insurance payment process took a total of 4 years and 3 months. She had received unemployment benefits once. Currently, there are 3 months left to pay the reserved unemployment insurance and the amount of allowance she received is 1.8 million dong. "I was very surprised, as I didn't expect to receive it that quickly, especially when I was notified by the social insurance agency to come to receive it. The procedure is very fast and uncomplicated. This support helps me to stabilize my life more," added Ms. Nguyen Thi Hoan.

For employees who are having jobs, joy also came to them unexpectedly with messages informing that they had been transferred the support money from the unemployment insurance fund. Ms. Do Thi Hong Nhung, worker at The Second Zone Maritime Pilotage Single-member Limited Liability Company (Hai Phong) said: “I just knew about the Government's Resolution recently, but today my account has already received the support money. In the difficult context of the epidemic like this, receiving support makes a lot of sense and helps me have an additional income to cover my life. Through this, I also clearly see the value of participating in unemployment insurance policy”.

Well-performed implementation of support from unemployment insurance fund will help economic growth

According to Mrs. Nguyen Thi Huong, Head of the General Statistics Office, the resilience of the business sector is also an issue in the current context. The epidemic has eroded the resilience of businesses when implementing prolonged social distancing. After reopening, it will take some time for businesses to restore production and business activities the same as before the epidemic.

However, in the last 3 months of the year, according to Mrs. Huong, there are two factors that can promote positive GDP growth.

It is the capital from the social security support package of VND 38,000 billion according to Resolution 116/NQ-CP of the Government and the promotion of public investment in the last months of the year will be the driving force that positively affects consumption and investment.

Public investment disbursement of VND 250 trillion will have a strong impact on the construction industry, thereby spreading positively to other industries and stimulating economic growth. When public investment increases by 1 percentage point, it will contribute to GDP growth by 0.06%. If from now until the end of the year, disbursing public investment capital reaches nearly VND 250,000 billion, it will contribute to GDP growth by 0.53 percentage points, Huong analyzed.

In particular, Huong assessed, the support package of VND 38,000 billion will create a positive effect on increasing consumption of the population, stimulating the weak aggregate demand, then the supply side will be boosted to increase production output.

On the other hand, a part of this support package is also spent on employers to solve immediate difficulties and prepare conditions to promote production and business in the last months of the year.

Regarding the support package from the unemployment insurance fund, the Vietnamese social insurance industry has been actively implementing across 63 provinces and cities. There will be about 13 million employees and 386 thousand employers' units benefiting from these support policies. Even employees who are suspending their labor contracts or stopping their jobs between January 1, 2020 and September 30, 2021, are still entitled to the policy.