Under the decree, foreigners working in Vietnam with a work permit, practice certificate, or practice license granted by competent Vietnamese authorities and under definite-term labour contracts or contracts with a term of one full year and over shall be subject to compulsory social insurance.
They shall be entitled to the following social insurance regimes – sickness, maternity, workplace accident, occupational disease, retirement, and survivor allowance.
Those temporarily transferred from mother companies abroad to subsidiary firms in Vietnam or reaching retirement age shall not be subject to the compulsory social insurance scheme.
This exclusion is aimed at addressing the concern of foreign enterprises over the duplication of social insurance payments.
According to vice chairman of the National Assembly’s Social Affairs Committee Bui Sy Loi, the compulsory social insurance for foreign workers is necessary to ensure fairness between Vietnamese and foreigners and between enterprises which only use domestic employees and those that employ foreigners.
According to statistics by the Ministry of Labour, Invalids and Social Affairs (MoLISA), the number of foreign employees in Vietnam increased from 63,557 in 2011 to 83,046 in 2016. They mostly come from Asian countries like China, the Republic of Korea and Japan, accounting for 73 percent of the total, followed by European nations (21.6 percent), American countries (2.4 percent).
Those having employment less than one year only makes up 4.4 percent, which manifests the local demand on and sustainability of foreign workers in the country.
Meanwhile, the number of Vietnamese employees sent to work abroad is on a rise. The MoLISA estimated that nearly 479,600 guest workers departed to work in foreign countries from 2011 – 2015.
Based on regulations in some nations, the fact that Vietnam covers foreign employees with social insurance will create opportunities for Vietnamese workers abroad to get access to social insurance schemes of the nations they are working in. –VNA
- Trump Winery Relies on Foreign Workers Because Americans Don't Want the Job
- Trump to Sign Order Cracking Down on Foreign Worker Visas
- IT bosses: foreign workers are good for UK tech
- Governor Cuomo Orders New Series of Protections for Nail Salon Workers
- New report shows Twitter social revenue up 300 percent
- New research highlights that social sharing is driven by ego
- New Yahoo Mail ups social integration, mobile optimization
- Only foreign workers can solve govt IT skills crisis
- What America's Glut Of Unsold New Cars Means For Buyers And Auto Workers
- 'Malnets' to become a new security issue