Tuesday, May 26 2020

VietNamNews

HCM City gives financial aid to household businesses affected by COVID-19 

Update: May, 22/2020 - 08:00

 

People in HCM City’s Phú Nhuận District affected by COVID-19 have received financial support from the city government. — Photo www.sggp.org.vn

HCM CITY — The HCM City People’s Committee has approved additional financial assistance of VNĐ830 billion (US$35.5 million) to support household businesses and workers affected by the COVID-19 pandemic. 

The money will be sourced from the city's State budget. Household businesses and workers in 23 districts will be the beneficiaries.

About VNĐ819 billion will be allocated to help 273,000 workers who have lost their jobs due to the crisis.

Nearly 3,730 household businesses with annual turnover of less than VNĐ100 million ($4,300) that have suspended operations will receive total support of VNĐ11 billion.

District 1 will provide more than VNĐ33 billion ($1.4 trillion) from its budget reserve to 11,000 workers and 80 household businesses in need of support.

In late April, the city provided VNĐ638 billion ($27.4 million) to support those affected by the pandemic. The city allocated VNĐ1.8 trillion ($77.4 million) to provide allowances to 600,000 affected people, including workers in industrial parks, export processing zones and Sài Gòn Hi-tech Park, as well as teachers at private kindergartens.

The allowances will be given for no more than three months, which had been started from April.

A recent survey showed that about 75 per cent of businesses in the city had been forced to reduce production due to a lack of raw materials or a decline in exports due to the impact of the COVID-19 pandemic.

As a result, many of them had to temporarily lay off staff or reduce the number of staff by 25-30 per cent. — VNS

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