Business News

The State Bank of Việt Nam on Tuesday issued a directive to reduce the fees for transactions via interbank electronic payment system by 50 per cent for local banks.

A range of new policies will come into effect this month, including fines of up to VNĐ100 million (US$4,192) for business owners who fail to pay their employees.

The Ministry of Labour, Invalids and Social Affairs wants the Government to lift a ban and allow on a priority basis for 8,459 highly skilled foreign workers – out of the thousands who have been kept out – to enter Việt Nam since it has been difficult to find replacements for them.

The decision followed Prime Minister Nguyen Xuan Phuc agreeing Monday with a Health Ministry proposal on declaring the Covid-19 outbreak 'a national epidemic', asking people nationwide to stay home and heavily restrict their outside movements.

Real estate developers are advising the government to detail supportive measures for the sector after Directive No.11/CT-TTg dated March 4 on urgent objectives and solutions for assisting businesses facing difficulties and assurance of social welfare amid the COVID-19 pandemic was issued.

Viet Nam will begin nationwide social distancing within 15 days, starting 00:00 on April 1, with the principle of every household, village, commune, district and province going into self-isolation, according to the latest directive signed by PM Nguyen Xuan Phuc.

Domestic flights will also be severely reduced with only two flights a day to connect the capital city of Hà Nội and the southern economic hub of HCM City, as well as only one flight per day from Hà Nội and HCM City to the central city of Đà Nẵng.

Vietnam government has ordered a strict social distancing measure starting Wednesday, in which people are restricted from leaving their homes and public gatherings of more than two persons are not allowed.