At the working session between the US-ASEAN Business Council and the Vietnam Social Security. (Photo: VNA)

Hanoi – Member businesses of the US-ASEAN Business Council (USABC) always stand ready and want to implement projects and provide resources to help Vietnam improve its health insurance policies and medical system, said Michael Michalak, Senior Vice President and Regional Managing Director of USABC.

Michalak made the affirmation at a working session with representatives of the Vietnam Social Security (VSS) on March 11, during which the two sides discussed the implementation of a memorandum of understanding (MoU) on realising health insurance policies reached on March 9.

The signing of the MoU was a good start for the bilateral cooperation, he said, noting his wish that the two sides will complete targets of projects within the framework of the document.

For his part, VSS Deputy General Director Pham Luong Son briefed the guests on Vietnam’s health insurance policies, stressing that as of late 2021, more than 91 percent of the Vietnamese population have been covered by health insurance.

He suggested USABC share international experience and cooperation models in the development of the medical system, health insurance policies and drug management.

The two sides discussed areas mentioned in the MoU like health insurance coverage and fund, fees and prices of services, equipment and medicines covered by health insurance, and bidding for procurement of medicines, among others.

They agreed to send experts to in-depth discussions on projects within the MoU and organise workshops on cooperation fields following the meeting.

Speaking at the signing ceremony of the MoU, USABC President and CEO Ted Osius said the US business community highly valued efforts and achievements by the Vietnamese Government, people and firms in fighting the COVID-19 pandemic and protecting people’s health, and at the same time resuming production activities to catch up with the global economic recovery.

The MoU will be valid for five years from the date of signing. Under the agreement, the sides will bolster cooperation in health insurance, particularly in the development of sustainable universal health insurance coverage; assessing the quality of medical equipment and services covered by health insurance; and health insurance payment verification.

They also seek potential fields of cooperation such as digital application, social welfare consultation, and investment fund.