Want to be in the loop?
subscribe to
our notification
Business News
MINISTRY DRAFTS DECREE ON COMPULSORY SOCIAL INSURANCE FOR FOREIGN WORKERS IN VN
The Ministry of Labor, Invalids and Social Affairs (MOLISA) is drafting a Decree to guide the implementation of the Law on Social Insurance on compulsory social insurance for foreign workers in Viet Nam.
Clause 2, Article 2 of the Law on Social Insurance (2014) stipulates that employees who are foreign citizens working in Viet Nam with work permits or practice certificates or practice licenses granted by competent Vietnamese agencies shall be covered by compulsory social insurance under the Government’s regulations.
According to the statistics of the MOLISA, the number of foreign laborers in Viet Nam increased from 63,557 in 2011 to 83,046 in 2016. The proportion of foreigners working in Viet Nam under one year only accounts for 4.4%, which manifests the demand and sustainability of foreign workers in Viet Nam.
Besides, the number of Overseas Vietnamese working abroad tends to increase. Based on the regulations in some nations, the application of social insurance on foreigners working in Viet Nam will create an opportunity for Overseas Vietnamese to get access to social insurance types of the nations they are working in.
The numbers of foreign laborers to Viet Nam and Vietnamese working abroad are expected to sharply rise thanks to the implementation of Free Trade Agreements, regional integration, economic development, urbanization, climate change and free movement of labor between the ASEAN nations.
To ensure rights for foreigners working in Viet Nam and realization of equal treatment, the MOLISA has proposed that foreign laborers in Viet Nam joining compulsory social insurance will enjoy benefits from five insurance types, including sickness, maternity, labor accidents - occupational diseases, retirement and death.
Source: VGP
Related News
MEMBER CORNER / PROMOTIONS
SENTRYSAFE CHW20201 - EFFECTIVE WATER RESISTANCE, MAXIMUM PROTECTION
In unexpected flooding situations, the most important thing is to keep your valuables dry and intact. SentrySafe CHW20201 is specially designed with superior water-resistant capabilities, helping protect documents, cash, and important belongings even when fully submerged. Proven in real testing: After water submersion, the documents inside remain dry - undamaged.
MEMBER CORNER / PROMOTIONS
AN ELECTRIFYING NIGHT WITH THE "QUEEN OF DANCE" THU MINH AT THE GRAND HO TRAM!
The stage at The Grand Ballroom is set to catch fire as Vietnam’s undisputed "Queen of Dance," Thu Minh, takes the spotlight. Renowned for her powerhouse vocals, magnetic stage presence, and sultry, high-energy performances, Thu Minh promises an evening of pure musical euphoria. The energy escalates with an exclusive appearance by special guest and The Voice champion, Vu Thao My.
HR / LABOUR/ EMPLOYMENT
HIGH-QUALITY HUMAN RESOURCES NEEDED TO ATTRACT NEW TECH INVESTMENT CAPITAL
Besides infrastructure, Việt Nam must also rapidly develop a highly skilled workforce to attract investment in AI, semiconductors and advanced manufacturing, experts have said. Don Lam, CEO and co-founder of investment management company VinaCapital, said that global technology investors were increasingly looking at the readiness of the entire ecosystem, with high-quality human resources a decisive factor.
HR / LABOUR/ EMPLOYMENT
HIRING OUTLOOK STRENGTHENS IN Q4 AS SKILLS SHORTAGES PERSIST
Hiring intentions among employers in Việt Nam strengthened in the fourth quarter, with 52 per cent of surveyed companies planning to increase headcount between October and December, according to a ManpowerGroup survey released this week. Việt Nam's hiring outlook was stronger than the Asia Pacific and Middle East (APME) regional average of 33 per cent and the global average of 29 per cent, ranking third in the region and 11th globally among 42 markets surveyed.
BANKING / FINANCE / INSURANCE / TAX
LARGE BANKS FORECAST TO GAIN HIGHER PROFITABILITY IN H2 2026
The return on average assets (ROAA) of the banking sector will likely remain stable at around 1.5 per cent in the second half of 2026, but profitability divergence among banks will increase, with large banks outperforming peers on stronger margins and diversified earnings, analysts forecast. In a recent report on the banking sector, analysts from the Vietnam Investors Service Rating said the sector’s ROAA rose by 10 basis points quarter-on-quarter to 1.51 per cent in the first half of this year, driven by net interest margin (NIM) improvements at some State-owned banks and large private banks.
GARMENT / TEXTILE
VIỆT NAM'S FOOTWEAR, BAG EXPORTS TO US TOP $8 BILLION IN EIGHT MONTHS
Việt Nam's exports of footwear and handbags to the US exceeded US$8 billion in the first eight months of 2026, as the US and EU remained the country's biggest markets despite sluggish growth in footwear shipments. Exports from Việt Nam's leather and footwear sector reached more than $2.45 billion in August, down 9 per cent from July but up 3 per cent from a year earlier, according to preliminary statistics.
Events Sponsors
