Chairman of the VSS Board of Commissioners, Minister of Finance Ho Duc Phoc, made such a request on April 2, in Ha Noi, while presiding over the first quarter meeting of the Board of Commissioners this year.

He also stated that in term of authorising collection and payment for social and health insurance, Viet Nam Social Security had to develop a bidding process to select high-quality contractors, ensuring transparency and effectiveness.

 Participants at the first quarter meeting of the VSS Board of Commissioners this year on April 2, in Ha Noi

In term of the cost of health insurance, the Board of Commissioners would adhere closely to the Prime Minister's decisions, promptly resolving issues within its jurisdiction, he said.

At the meeting, Phoc also highly agreed with last year’s report of Viet Nam Social Security on investment fund issues. Viet Nam Social Security had operated in accordance with the resolution of the Board of Commissioners.

He praised the preparation work for the meeting by the Office of the Board of Commissioners and Viet Nam Social Security, providing sufficient information and data for the Board’s members to timely study and make positive and effective comments to the Board's activities.

He agreed with the opinions of the Board’s members at the meeting. He requested the office to incorporate and summarise the opinions to send to the relevant units for further study and implementation.

Speaking at the meeting, the Director General of Viet Nam Social Security Nguyen The Manh, absorbed and clarified some additional points related to the investment plan for the agency’s funds this year and the costs of health insurance.

He also requested subordinate units and advisory departments to fully absorb all opinions of the Board’s members to refine the reports and propose specific plans to the Board.

Deputy Chairman of the VSS Board of Commissioners Nguyen Van Cuong delivers his speech at the meeting

Prior to that, Deputy Chairman of the VSS Board of Directors Nguyen Van Cuong, expressed opinions on investment methods through purchasing Government bonds, depositing in State commercial banks, and automatic deposits.

He also proposed that Viet Nam Social Security should develop a more specific plan for automatic deposits to submit to the board for approval, as well as for monitoring and supervision purposes.

Regarding the cost of health insurance, after the Government issued Decree No 75/2023/ND-CP, allowing the payment of the excess part of the total health insurance expenses for the years 2022, 2020, and 2019, the Board of Commissioners would pass principles and resolutions to resolve within its jurisdiction.

Viet Nam Social Security must fully assess all factors, causes and synchronise reports before submitting to the board for approval.

Regarding the authorisation of collecting and payment for social and health insurance, the Ministry of Planning and Investment had issued documents on the matter; Viet Nam Social Security had to study and implement accordingly.

Cuong also said that currently, the VSS was actively participating in the process of drafting and amending the Law on Social Insurance; which included content related to enhancing the operational capacity of the office.

He hoped that the Chairman of the Board of Commissioners and the Board’s members’ attention and input will help establish optimal conditions for the office, including a well-organised workspace and proper working equipment. This would undoubtedly amplify operational efficiency to new heights.

Chairman of the VSS Board of Commissioners, Minister of Finance Ho Duc Phoc chairs the first quarter meeting of the Board this year on April 2, in Ha Noi

At the meeting, Deputy Director General of Viet Nam Social Security Tran Dinh Lieu reported specifically on the investment fund results of last year.

Accordingly, Viet Nam Social Security had adhered to the regulations and resolutions of the board; ensuring the assigned tasks. Based on that, Viet Nam Social Security had compiled and reported to the board the investment plan of the funds for this year.

Deputy Director General of Viet Nam Social Security Le Hung Son said that Viet Nam Social Security had issued documents and reports to the board, regarding the excess amount beyond the budget due to external factors; health insurance costs unresolved before 2022 and health insurance costs exceeding the total amount paid according to Decree No 75/2023/ND-CP of the Government.

Viet Nam Social Security had proposed a range of solutions within the jurisdiction of the board and the Prime Minister.

On each issue, the board’s members discussed and provided opinions. The members agreed with the reports of Viet Nam Social Security./.