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Vietnam considers 2nd Covid-19 financial aid package



Hanoi People 47

The Ministry of Labour, Invalids and Social Affairs has proposed to the Ministry of Planning another aid package for businesses and individuals who have been negatively impacted by the ongoing coronavirus epidemic, Vietnamplus has reported.

The relief package would come in the forms of loans to employers or as direct financial aid to workers, and even the waiving of taxes and fees.

The total funding is approximately 18.6 trillion VND (808 million U.S. dollars), in which 15 trillion VND will be distributed to businesses, prioritizing the smaller players such as micro and small-sized enterprises, business households and laborers. 

Individuals can loan up to 100 million VND while enterprises can take out up to 2 billion VND.

The remaining 3.6 trillion VND will serve as financial support for the vulnerable (children under six and the unemployed). Each person can receive up to 1 million VND per month until the end of 2020.

Previously, in an effort to lessen the financial toll that the epidemic has caused, the government has provided households across Vietnam a total of over 12 trillion VND in funding.

Covid-19 has seen a considerable decline in Vietnam’s economy, especially in the tourism and hospitality sectors.

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