5 groups of solutions for economic recovery after the COVID-19 pandemic

In Vietnam, there are five major policy responses to the economic recovery following Covid-19.

The Government Office held a normal news conference in Hanoi on the afternoon of November 6 under the chairmanship of Minister, Chairman of the Government Office, Tran Van Son, government spokesman

Pictures of the Government's regular press conference in October 2021 - Photo: VGP/Nhat Bac

Solutions groups for economic recovery following the epidemic

The Government Office held a normal news conference in Hanoi on the afternoon of November 6, 2021, under the chairmanship of Minister, Chairman of the Government Office, Tran Van Son, government spokesman.

In response to press inquiries concerning economic recovery solutions in the context of safe, flexible adaptation and effective control of the COVD-19 outbreak, Deputy Minister of Planning and Investment Tran Quoc Phuong stated that the process of developing a recovery program is underway. The Ministry of Planning and Investment has been very expeditious and closely coordinated with the ministries and branches while implementing the assigned tasks, especially consulting the opinions of leading experts in the fields of economics, finance, social workers... both domestically and internationally. Furthermore, it is needed to react to the request for the submission of draft programs to the appropriate authorities as soon as possible.

"The recovery program's basic substance suggests five groups of remedies based on international lessons learned and lessons learnt in the past, particularly during the 2009-2011 economic slump period. On that basis, the government presented its opinions, particularly the two important and core viewpoints that integrate both recovery and development, so that the proposed solutions incorporate both the short-term and the fundamental opportunities in the long term "Deputy Minister Tran Quoc Phuong stated.

As a result, there are five categories of options for the economic recovery program following the COVID-19 pandemic:

The first set of remedies is concerned with the prevention and control of the COVID-19 outbreak, with the goal of adjusting to changing situations and providing favorable conditions for economic recovery. Socioeconomic activities are commonplace. This is an essential solution for laying the groundwork for the execution of additional solutions.

The second set of solutions is concerned with social security. This is a subject that exemplifies our Party's and State's cross-cutting perspective, a harmonic development of economic and social issues, particularly help for individuals afflicted by the COVID-19 pandemic.

The third group of remedies is to assisting firms, cooperatives, and households that are experiencing significant difficulties as a result of the COVID-19 outbreak in resuming production and business activities. The resources required for a long-term recovery will be provided.

The fourth category of long-term remedies is concerned with encouraging public investment. Aside from encouraging the timely disbursement of public investment resources, the government has supported investment in the completion of synchronous and contemporary infrastructure.

The fifth category of solutions is managerial and executive in nature, with a focus on risk management, inflation control, macroeconomic stability, and guaranteeing important economic balances.

In terms of human resources, the Ministry of Planning and Investment works closely with relevant agencies, particularly the Ministry of Finance, the State Bank, and agencies involved in resource utilization, such as the Ministry of Health, the Ministry of Labor, War Invalids, and Social Affairs, as well as other ministries and branches, to achieve the most reasonable balance of resources. The program is nearing completion and will soon be submitted for approval to the appropriate authorities.

Route to welcome International Tourists

In response to press inquiries about piloting international arrivals, Deputy Minister of Culture, Sports, and Tourism Hoang Dao Cuong stated that on November 5, the Ministry of Culture, Sports, and Tourism issued pilot guidelines to welcome international tourists to Vietnam in order to implement the Prime Minister's direction in Official Dispatch No. 8044 of the Government Office on temporary guidance on piloting international tourists to Vietnam. This interim guide is divided into four sections. Part 1 is the Pilot Roadmap for Greeting International Visitors. The second is the international visitor regulation. The final step is to welcome overseas visitors. The fourth component is the implementation organization.

As a result, the pilot path for welcoming international tourists to Vietnam is separated into three parts, namely:

Phase 1 (beginning November 2021): Pilot foreign arrivals through package tourism programs, charter flights, and international trade in five locations, with tourism service establishments chosen in Phu Quoc City (Kien Giang), Khanh Hoa, Quang Nam, Da Nang, and Quang Ninh.

Phase 2 (beginning in January 2022): broadening the scope to welcome international tourists, linking places via regular charter flights, and facilitating international trade. Guests can engage in tourism programs that combine destinations in 5 localities in phase 1. Other localities can be added if they fit the criteria and are suggested to welcome foreign tourists after the traveler has finished the tour program at the first destination within 7 days.

Phase 3: Reopening to the international tourist market in its entirety. The commencement date of this phase will be determined by the current epidemic condition as well as the evaluation of the success of welcome international tourists in the first two phases.

Foreigners or Vietnamese resident abroad are not permitted to visit Vietnam as international tourists.

There are also four prerequisites for overseas visitors:

To begin, a certificate of immunization against COVID-19 has been issued by a competent authority in Vietnam. The period of the injection of the second or first dosage (for the one-dose vaccine) is 14 days and no more than 12 months from the time of departure. Alternatively, they must have a COVID-19 recovery certificate or equivalent documentation certifying that they have recovered from the disease, issued by a competent body in the country of treatment and recognized by Vietnam. The duration between being discharged from the hospital and leaving must not be more than 6 months.

Second, have negative SARS-CoV-2 test results by RT-PCR/RT-LAMP method within 72 hours before departure and have been verified by the nation conducting the test's competent authority. (As of the sampling time).

Third, have medical or travel insurance with a minimum liability of $50,000 that includes COVID-19 treatment. Fourth, you must engage in the travel agency's package tour packages.

"Kien Giang will deploy according to the planned route and conduct test flights from November 20, 2021 to December 20, 2021, which is the estimated time to welcome international passengers in phase 1. Pilot flights are anticipated to arrive in Khanh Hoa, Da Nang, and Quang Nam in November 2021. Quang Ninh is scheduled to welcome international visitors to Van Don international airport by December 2021 "Deputy Minister Hoang Dao stated. Cuong stated.

Employees were given more than VND 22,500 billion in assistance to participate in unemployment insurance.

Answering press questions from press agencies at a press conference about the progress of disbursement Resolution 116 on support policies for employees unemployment; and solutions to attract workers back to work, Deputy Minister of Labour, Invalids, and Social Affairs Nguyen Ba Hoan stated that by October 6, Vietnam Social Security had completed determining the reduction amount for 363,600 units, equivalent to 9.68 million employees with the temporariness.

In terms of support implementation, as of November 5, support guidance had been resolved for 9,967,023 employees, including 9,039,487 employees participating in unemployment insurance and 630,545 people who had stopped participating, equating to 86 percent of employees who had requested assistance totaling 22,889 billion VND. The overall amount paid is VND 22,582 billion, which is equivalent to 98 percent of the total amount settled, the vast majority of which is paid to personal accounts.

The COVID-19 pandemic afflicted 9.1 million workers aged 15 and up in the first quarter of 2021, gradually increasing to 12.2 million in the second quarter of 2021 and more than 28.2 million in the third quarter of 2021.

Out of a total of more than 28.2 million people affected by the COVID-19 epidemic, 4.7 million lost their jobs, accounting for 16.5 percent; 14.7 million had to temporarily halt/suspend production and business, accounting for 51.1 percent; 12 million had their working hours reduced or forced to take time off or rotated leave, accounting for 42.7 percent; and 18.9 million workers had their income reduced, accounting for 67.2 percent.

Wages and incomes have fallen. Employees' average salary fell to 5.2 million VND/employee, a drop of 877,000 VND from the second quarter of 2021 and 603,000 from 2020. The unemployment rate rose substantially, with the underemployment rate in the third quarter standing at 4.46 percent, equivalent to more than 1.8 million people, up 1.86 percent from the previous quarter.

On a nationwide scale, the number of unemployed persons of working age in the third quarter of 2021 was more than 1.7 million, a 532,200 increase over the previous quarter and a 449,600 increase over the same period last year. In the third quarter, the unemployment rate for adults of working age was 3.98 percent, up 1.36 percent from the previous quarter and 1.25 percent from the same period last year. The urban unemployment rate is 5.54 percent. There is a significant labor shift from cities to rural areas and provinces. Because of the labor shortage, a greater number of workers are being relocated from limited areas, causing the labor market to become fragmented locally, posing a risk. Some regions, industries, and fields are experiencing a manpower shortage.

Nguyen Ba Hoan, Deputy Minister of Labour, Invalids, and Social Affairs, stated that the government is undertaking the following strategies to address the labor shortage:

To begin, employees working in manufacturing and business establishments must be provided with social security. spreading the benefits of long-term connection to the firm to employees, participating with the enterprise during difficult times Encourage enterprises to have a regime to support employees in terms of salary, insurance, holidays, and so on in order to retain employees; guide employees to complete documents in order to receive support packages; continue to support policies on housing, accommodation, and food in order for employees to work with peace of mind; and promote COVID-19 vaccination.

Second, assistance in returning workers to work; organizing propaganda so that employees can get information about returning to work; prioritizing vaccination for employees; supporting medical expenses, COVID-19 testing, isolation; travel assistance when employees return to the enterprise; supporting skills training, career counseling; coordinating information between localities on facilitating and supporting travel for workers to return to work; assisting foreign workers with minimum living expenditures such as housing rent and medical expenses; encouraging businesses to pay attention; and encouraging foreign workers who have returned to their hometown to be prepared to work.

Third, develop a plan to link workers in the area, handle problems with labor shortages in key production areas and locations, and examine workers' credentials and information to serve as a basis for connection. hosting job fairs, expanding means of job search, arranging inter-regional labor links across the country; timely vocational skills training for workers to supplement the labor force...