More than half a million workers of Japanese FDI enterprises participate in social insurance

According to General Director of VSS, Nguyen The Manh, as of September 2023, VSS is serving more than 92 million people participating in health insurance and 17.5 million people participating in social insurance, accounting for nearly 40% of the workforce. As for the Japanese business sector, there are currently more than 2.1 thousand enterprises with 547.1 thousand employees participating in social insurance, including 545,500 Vietnamese workers and 1,600 foreign workers; Social insurance revenue accounts for more than 13% of total revenue of FDI enterprises in Vietnam.

In the difficult context of the pandemic and post-Covid-19 pandemic, FDI enterprises, including Japanese enterprises, have had many solutions to maintain stability and develop production and business, and "retain" labor; making an important contribution to Vietnam's socio-economic recovery and development. "Most Japanese businesses comply well with Vietnam's legal policies, including legal policies on social insurance and health insurance," General Director Nguyen The Manh emphasized.

As a Government agency implementing social insurance and health insurance policies, in recent times, VSS has proactively deployed solutions to support and accompany businesses and employees. Notably, VSS has consulted and submitted to the Government to issue support policies on social insurance and unemployment insurance for employees and employers facing difficulties due to the Covid-19 pandemic with 47.2 trillion VND, accounting for 45.2% billion VND of the Government's total Covid-19 support packages.

In particular, the deployment of the VssID-Social Insurance application with more than 32 million current users has created a breakthrough in bringing many utilities to enable to save time and costs when transacting with the social insurance agency.

In order to continue spreading the effectiveness of the VssID application in the business community, at this Conference, Vietnam Social Insurance launched the Japanese version of the VssID application to help Japanese employees more conveniently participate in social insurance and health insurance.

In the difficult context of the pandemic and post-Covid-19 pandemic, FDI enterprises, including Japanese enterprises, have had many solutions to maintain stability and develop production and business, and "retain" workers. . Photo: H.Diu

Ready for bilateral agreement negotiations on social insurance between Vietnam and Japan

Affirming the increasingly cohesive, substantive and effective cooperative bilateral relationship between Vietnam and Japan, Deputy Minister of Foreign Affairs Nguyen Minh Vu said that, with the community of about 500,000 Vietnamese people in Japan, along with the community of about 20,000 Japanese people in Vietnam, have made many positive and practical contributions to the development of the two countries. Along with the development of multifaceted cooperation between Vietnam and Japan, cooperation between Vietnam Social Security and Japanese partners in the field of social security in general, effectively implementing Social insurance policy and Health insurance in particular has achieved many positive results.

In order to facilitate the Japanese business community investing and doing business in Vietnam as well as the Vietnamese community living and working in Japan, the two countries are conducting exchange, update procedures, information and roadmap to prepare for the negotiation of the bilateral Agreement on Social Insurance between the Government of Vietnam and the Government of Japan. "This is definitely a new milestone in cooperation in ensuring social security for the people of the two countries," said General Director Nguyen The Manh.

Adding more information about the operations of Japanese FDI enterprises in Vietnam, Mr. Yamada Takio, Ambassador Extraordinary and Plenipotentiary of Japan in Vietnam, said that the number of Japanese companies investing in Vietnam is increasing annually. Accordingly, by 2023, the Japanese Business Association in Vietnam are about 2,000 member companies, which is also the largest overseas Japanese Business Association in ASEAN and second in the world.

Mr. Yamada Takio said that, along with the increase in direct investment activities from Japan into Vietnam, Japanese businesses need to understand and well implement Vietnam's social insurance regulations and policies to ensure legal rights and benefits for employees at your company. The amendments and supplements to the Social Insurance Law will bring changes to Vietnam's social insurance system in the future, thereby having a great impact on investment trends from Japanese companies.

In addition to information about the general picture of the implementation of social insurance and health insurance policies of Japanese FDI enterprises, representatives of the social insurance agency and Japanese FDI enterprises exchanged, discussed and proposed related issues. The agency contributes to perfecting the policy mechanism on social insurance and health insurance, creating conditions for businesses to do business and invest effectively, stably and sustainably in Vietnam and ensuring long-term benefits for employees.

Accordingly, under the authority of the Industry, VSS welcomes opinions and continues to improve internal procedures to facilitate FDI enterprises in the process of participating in Social insurance and Health insurance. Given other contents beyond the authority of the Industry, Vietnam Social Insurance synthesizes opinions to send to relevant agencies for consideration and resolution in order to achieve the common goal of ensuring Social insurance &Health insurance benefits for FDI employees in Vietnam. Therefore, VSS is trying best for the sake of FDI enterprises in Vietnam and the socio-economic development.