Nearly 97,000 turns of labours get assistance in salary payment

In late May and June this year, Covid-19 outbroke in the industrial parks, some districts and city, making Bac Giang an epicenter in the country. To prevent and control the disease, many companies in and outside the industrial parks suspended the operation while most of labours must temporarily stop working. The implementation of Resolution 68 timely provides a helping hand to enterprise community in approaching source to encounter difficulties.

The production line at Bac Giang LGG Garment Corporation Joint Stock Company (Lang Giang district).

Accordingly, firms are offered 7.5 trillion VND (333 million USD) loan package to pay salary for severance and production recovery. The maximum loan is equal to the regional minimum wage in maximum of three months with zero interest. The loan period is under 12 months which requires no collateral assets.

Ha Bac Garment Export Joint Stock Company (Ha Bac Garment) (Viet Yen district) was one of the beneficiaries from the preferential loan package. With more than 5,000 labours, they must suspended production activities in the last pandemic outbreak so failed to complete export orders for foreign partners as the inked contracts, considerably reducing the revenue.

Vice General Manager Nguyen Tuan Son said from August to October, 2021, Ha Bac Garment got instruction from Bac Giang branch of Social Policy Bank (SPB) to complete the profile to borrow 50 billion VND of preferential loan to pay salary for more than 14,600 turns of workers. Thanks to the loan package, the company prioritised capital to import more materials to accelerate production to cover the collection shortage. This year, Ha Bac Garment strives to earn the same revenue as last year figure of 1.3 trillion VND.

Many businesses in the districts, city and industrial parks were offered the preferential loan, such as Bac Giang LGG Garment Corporation Joint Stock Company (Lang Giang) with over 40 billion VND, Bac Giang LNG Garment Corporation Joint Stock Company with about 18 billion VND; SiFlex Vietnam Company Limited in Quang Chau industrial park with over 47 billion VND...

To date, the provincial PSB has disbursed nearly 330 billion VND to 72 companies in the province as the capital loan in line with Resolution 68 to pay the production recovery salary for nearly 97,000 turns of labours and nearly 1.4 billion VND to 4 businesses as the severance pay.

Supporting procedure, ensuring proper subject

Bac Giang is now top leading provinces nationwide in disbursement result of the preferential loan per Resolution 68. The provincial PSB actively consulted the provincial People’s Committee to issue documents to direct the relevant departments, sectors and agencies to enhance communication, popularize policies to the employers.

SiFlex Vietnam Company Limited in Quang Chau industrial park is offered the loan as Resolution 68 to pay salary for workers.

The provincial PSB opened the policies to all transaction points, established Steering Committee about implementation the Resolution 68 to assign the task to each member so as to monitor and direct the transaction points in the districts and city toward effective execution.

To handle the obstacle for business, on October 8, 2021, Government issued Resolution No.126/NQ-CP to amend and supplement the Resolution 68. Accordingly, the beneficiaries are expanded to business with bad debt. The profile and procedure are also adjusted to facilitate the enterprises.

Recently, the provincial PSB has focused on communicating and guiding businesses about changed terms to correctly implement as requirement to get quick disbursement while preparing inspection plan of capital usage at business to ensure proper purpose.

198 billion disbursed as loan for salaries in suspension and production recovery periods

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