Vietnam’s Resolution 105 Subsidizes Pandemic-Stricken Businesses

Vietnam's Resolution 105 will help revive the country's dwindling economy.

Vietnam proclaimed a new law called Resolution 105 to subsidize pandemic-stricken businesses in the country. It will help speed up the proliferation of the country’s collapsing economy.

On September 9, Resolution 105 went into effect to support household businesses and cooperatives. It will also help businesses overwhelmed by the worldwide pandemic. The law will emphasize problems associated with business operations and productions.

Additionally, it will resolve issues regarding the reduction of companies that temporarily closed. Additionally, it will help enterprises through credit support and tax extensions. It comes with recommendations to support both employers and employees.

Resolution 105 Eases Off Working Permit Regulations of Foreign Workers

A significant improvement is to ease the issuance, extension, and authorization of foreign workers’ work permits. In February, the government issued Decree 152 that beefed up the rules regarding foreign workers’ employment. The Ministry of Labor, Invalids, and Social Affairs (MoLISA) instructed local, provincial authorities to slacken stipulations. It includes some provisions on the issuance and renewal of work permits. It includes:

  • Foreign workers can apply to the position not related to the university degree taken.
  • Training field of foreign workers no longer need to have a relation with the job role.
  • Formerly issued work permits are acceptable as the work experience of the foreign worker.
  • Foreign workers bearing authorized work permits can work in another city or province. It shouldn’t exceed six months without the need for a work permit reapplication.

HR and Payroll Ho Chi Minh City Offices Mai Quoc Hung said, “Businesses are already seeing a depletion of funds as they have to maintain a workforce and adapt to the 3-on-site rules to maintain production. Nevertheless, the government is likely to issue special conditions to ensure that the social insurance fund is protected.”

The government also instructed relevant agencies to make sure that business activities could continue. At the same time, it will deal with the pandemic. Resolution 105 likewise asks officials to postpone irrelevant business audits for the moment set for 2021 to a later time. The government intends to speed up the recovery of the country’s crumbling economy.

Businesses accepted the new proposition, specifically of going easy on work permits regulation. The measure also encompasses experience for foreign workers. It will mitigate challenges for both foreign hires and employers. Ventures that want to employ overseas workers must know hiring regulations and plan correspondingly.

Vietnam Signed 10 Million Vaccines from Cuba

Meanwhile, Vietnam will purchase 10 million Covid-19 vaccines from Cuba called Abdala. President Nguyễn Xuân Phúc gave emergency approval to help revive his country’s economy.

Vietnam is the first foreign country to allow the emergency use of Abdala. Cuba is using the said inoculant together with another locally-made vaccine called Soberana 02. These vaccines were initially developed in Latin America and still have to complete international
scientific observation.

According to Cuban scientists, the jabs showed over 90% effectiveness in deterring symptomatic Covid-19 cases. They used the technology of combined protein, which the United States used in its Novavax and  France’s Sanofi injections. Cuba produces almost 80% of its Coronavirus shots.

Abdala is the eighth Covid-19 inoculant that Vietnam allowed to use. The country has the lowest vaccination rates of only 6.3% of its 98 million population who received at least two doses.

Other countries such as Mexico and Argentina already expressed interest in purchasing Cuban vaccines. Venezuela already signed an agreement with Cuba to obtain 12 million Abdala shots. Iran, on the other hand, will acquire Soberana 02.