VSS, Korean Firms Discuss Social and Health Insurance

The Vietnam Social Security (VSS) recently hosted a dialogue meeting with South Korean businesses on the enactment of social insurance and health insurance policies, chaired by VSS General Director Nguyen The Manh, in Dong Nai province. This was the first such policy dialogue between the VSS and FDI enterprises.

South Korea is among top foreign investors in Vietnam, largely with labor-intensive projects. This meeting provided information, exchanged and answered questions about implementation of policies on social insurance, health insurance and unemployment insurance, thus helping consolidate and raise awareness, create consensus and cohesion among FDI enterprises in general and South Korean ones in particular in ensuring social security for employees. This activity also further tightened diplomatic relations between Vietnam and South Korea ahead of the 30th anniversary of diplomatic relations in 2022.

The successful gathering highlighted VSS’s efforts for effective enforcement of the Government’s Resolution 02/NQ-CP dated January 1, 2021 on the continued implementation of key tasks and solutions for a better business environment and stronger national competitiveness in 2021.

Also at the event, with the desire to introduce and diffuse its effective digital products to South Korean businesses, the VSS launched the Korean version of the VssID application to help Korean businesses and employees, subject to compulsory social insurance, with the opportunity to access and experience VssID features and utilities, thus creating ripple effects on managers at all levels and workers in Korean firms investing and doing business in Vietnam. This is a common concern of many foreign-invested enterprises in Vietnam, including South Koreans. In order to optimize benefits for workers, Vietnam and South Korea are negotiating to sign a bilateral agreement on social insurance from which the VSS and the Korea National Pension Service will also sign an enforcement agreement to create a legal basis and corridor for enactment and ensure social security interests for workers in each country. The Vietnam Social Security is working closely with the Ministry of Labor, Invalids and Social Affairs in cooperation with South Korean partner agencies to soon realize the goal reached by the two governments.

Speaking at the meeting, VSS General Director Nguyen The Manh said, to prepare for this significant event, the Vietnam Social Security conducted a survey into South Korean businesses. The agency is ready to receive information about enforcement of social insurance, health insurance and unemployment insurance policies; solve problems faced by businesses and administrative procedures within its jurisdiction. At the same time, the VSS will discuss and come up with the best solutions to ensure social security for workers at FDI firms as well as foreign workers in Vietnam.

He hoped that the South Korean side will continue to work with Vietnam in general and the VSS in particular in the implementation of social insurance, health insurance and unemployment insurance policies, and ensure social security for workers.

Mr. Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), said that VCCI has actively coordinated with the VSS to organize regular conferences to diffuse legal policies on social insurance, health insurance and unemployment insurance to the business community. At the same time, many conferences between businesses and social insurance agencies were launched to promptly send recommendations and contributions of businesses to the VSS, as well as measures to remove difficulties faced by enterprises in the process of implementing policies on social insurance, health insurance and unemployment insurance.

Dialoguing is indeed one of the ways to strengthen the bond between businesses and government agencies; bring Party and State policies to businesses directly and effectively. This event also demonstrated VSS’s determination to go with the Government and the FDI business community to create a strong business environment towards a sustainable future.

Huong Thom (Vietnam Business Forum)