Monthly Newsletter of January 2023
The Central Institute for Economic Management (CIEM) gave two scenarios for the economy of Vietnam in 2023.
In the first scenario, the national economy is likely to expand by 6.47 percent over the entire year, with export turnover increasing by 7.21 percent, and inflation to be kept at 4.08 percent, while trade surplus is anticipated to reach US$5.64 billion.
In the second scenario, the national economy is likely to grow by 6.83 percent, with export growth accelerating to 8.43 percent, and inflation to be controlled at 3.69 percent, while the trade surplus is projected at US$8.15 billion.
As Viet Nam’s GDP growth is strong, the inflation and other factors affecting Viet Nam’s economy are much less severe than what is going on in neighboring countries and other nations surrounding the region, said Andrew Jeffries, Country Director of the Asian Development Bank in Viet Nam.
Singapore’s United Overseas Bank (UOB) forecasted Viet Nam’s GDP growth for 2023 at 6.6 percent in its report on Viet Nam’s economic growth in the last quarter of 2022 and prospect for 2023.
The leather and footwear industry is striving to reach US$27 billion in export turnover in 2023, an increase of about 10% compared to one year earlier. While the garment export is forecasted to reach more than US$45 billion in 2023, higher than the 2022 value of US$44 billion, driven by the opportunities provided by new-generation free trade agreements (FTAs), as sharing by the Vietnam Textile and Apparel Association (VITAS).
Source: General Statistics Office of Vietnam; Online Newspaper of the Government of the Socialist Republic of Vietnam; Vietnam economics news and Vietnamnet.
NEW LEGAL REQUIREMENTS
1. Circular No. 24/2022/TT-BLDTBXH on Provision of Perquisites for Workers in Harmful or Dangerous Environments
a. Conditions for being provided with perquisites and level of perquisites
A worker is entitled with perquisites when the following conditions are satisfied:
– Doing the jobs in the list of arduous, harmful and dangerous jobs or the list of extremely arduous, harmful and dangerous jobs promulgated by the Ministry of Labor, War Invalids and Social Affairs;
– Working in an environment with at least one of two following factors:
+ At least one dangerous or harmful factor below the hygiene standards established by the Ministry of Health,
+ In direct contact with at least one factor ranked at 4 or higher scored in the group “Exposure to sources of infectious diseases according to the Law on Prevention and Control of Infectious Diseases” (ordinal number 10.1, Section A, Annex I issued together with Circular No. 29/2021/TT-BLDTBXH dated December 28, 2021)
b. Level of perquisites:
– Levels of perquisites in the form of daily meals converted into cash:
+ Level 1: VND 13,000;
+ Level 2: VND 20,000;
+ Level 3: VND 26,000;
+ Level 4: VND 32,000.
– The level of perquisites depends on the working environment and indicators specified in Appendix 1 of the Circular and working time.
– The employer is encouraged to consider providing perquisites at level 1 for the workers not doing the works in the list of arduous, harmful and dangerous jobs or the list of extremely arduous, harmful and dangerous jobs promulgated by the Ministry of Labor, War Invalids and Social Affairs, but working in the environment that has at least one dangerous or harmful factor as mentioned above.
The Circular was issued on November 30, 2022 and will be coming into force from March 01, 2023.
2. Circular No. 18/2022/TT-BYT on Amendments to Some Articles of Circular No. 56/2017/TT-BYT Dated December 29, 2017
The circulars regulated new requirement on:
a. Diseases eligible for lump-sum social insurance payout
b. Documents of first medical assessment: 1) Documents of first medical assessment due to an occupational accident; 2) Documents of medical assessment as the basis for provision of pension for a worker; 3) Documents of medical assessment as the basis for provision of death benefits; 4) Documents of medical assessment for confirmation of inadequate postpartum health, inadequate health after receiving the child due to surrogacy or maternity leave; 5) Documents of medical assessment lump-sum social insurance payout for
c. Documents of medical re-assessment due to relapse of occupational diseases.
d. Issuance and management of confirmation of eligibility to receive social insurance benefits.
Only one confirmation of eligibility receiving social insurance benefits shall be issued by each visit. In cases which the patient needs to rest for more than 30 days or when the term of leave inscribed on the granted confirmation of eligibility to receive social insurance benefits is almost over, the patient must be conducted a follow-up examination so that the practitioner can consider and decide.
If a worker is issued with more than one confirmation of eligibility to receive social insurance benefits by various departments of different health facilities, the one with the longest duration shall be applied.
If a worker takes medical examinations for many diseases at various departments of a medical facility in a day, only the confirmation of eligibility to receive social insurance benefit with longest duration shall be applied.
The Circular was issued on December 31, 2022 and will be coming into force from February 15, 2023.
3. The Circular No. 79/2022/TT-BTC on Amendments to Some Legislative Documents Promulgated by Ministry of Finance
This Circular updated new regulation on documents proving dependents for the personal income tax deductions.
The Circular was issued on December 30, 2022 and came into force from January 01, 2023.
4. Resolution No. 06/NQ-DCT and Decision No. 6696/QD-TLD of Presidium of The Vietnam General Confederation of Labour on Supporting Trade Union Members and Employees Subject to Reduction of Working Periods or Termination of Labor Contracts Due to The Decrease in The Number of Orders of Enterprises
These documents regulated policies to support trade union members (union members), employees who got the reduction of working hours, job suspension, employment contract suspension, unpaid leave or employment contract termination due to the decrease in the number of orders of enterprises from October 1, 2022 to March 31, 2023.
a. The employees, who got the reduction of working hours, job suspension and meet the requirement shall receive:
– VND 1,000,000 for members of trade union, female workers from 35 years old, pregnant workers, lactating workers, employees whose children are less than 6 years old.
– VND 700,000 for employees who are not members of trade union.
b. The employees, who got employment contract suspension, unpaid leave and meet the requirement shall receive:
– VND 2,000,000 for members of trade union, female workers from 35 years old, pregnant workers, lactating workers, employees whose children are less than 6 years old.
– VND 1,400,000 for employees who are not members of trade union.
c. The employees, who got employment contract termination and could not receive the unemployment allowance and meet the requirement shall receive:
– VND 3,000,000 for members of trade union, female workers from 35 years old, pregnant workers, lactating workers, employees whose children are less than 6 years old.
– VND 2,100,000 for employees who are not members of trade union.
The allowances are paid once in cash or via banking transfer. The grassroot union shall recommend the employers to check affected workers before the 15th of each month and submit relevant documents to the superior union before March 31, 2023.
These documents were issue on January 16, 2023 and took effect on the same day.
OneStepVietnam took the Lunar New Year holiday from January 21, 2023 and came back to work on January 30, 2023.
To our valued customers, OSV would like to greet you with the greatest wishes and a year full of prosperity and happiness.
OneStepVietnam team – January 2023