Human resources are the core endogenous driving force of the economy.

(People's life) - National Assembly Chairman Vuong Dinh Hue affirmed that human resources are the core endogenous driving force of the economy . He cited: "The WB believes that the main solution to achieving higher productivity growth lies in improving the characteristics of today's youth workforce."

National Assembly Chairman attends High-level Dialogue

On the afternoon of September 19, 2023, participating in the roundtable discussion session at the high-level topic: "Strengthening endogenous capacity, creating momentum for growth and sustainable development", delegates listened to speakers present the contents on the context, current situation and prospects for socio-economic development in the coming time.

Many important suggestions, not only in the short term but also for sustainable development goals, were made at the Vietnam Socio-Economic Forum 2023.

Discussing the achievements and limitations of the economy, Dr. Nguyen Dinh Cung, former Director of the Central Institute for Economic Management (CIEM), said that in 2023, we have made efforts to balance macroeconomic stability and maintain social security to create momentum for development.

However, there are still structural weaknesses such as a fragmented economy. The economy is open but the integration capacity of domestic private enterprises is still low, making it difficult to take advantage of the opportunities brought by integration.

Deputy Minister of Labor, Invalids and Social Affairs Nguyen Van Hoi: Currently, the Ministry of Labor, Invalids and Social Affairs has proposed policy mechanisms to support job creation for the elderly to have jobs suitable to the health and experience of each subject.

On the other hand, the institutional system is no longer suitable to mobilize sufficient resources and use resources effectively to create a breakthrough for growth. This is reflected in the National Assembly continuously issuing different institutions for localities or to implement important national projects.

Deputy Minister of Planning and Investment Tran Quoc Phuong said that in the context of a difficult and challenging business investment environment, it is necessary to mobilize the internal capacity of the economy, in which the role of enterprises is very important. To do so, it is necessary to improve the business investment environment, the Ministry of Planning and Investment is assigned to review and cut unnecessary procedures to reduce costs for businesses and reduce the burden on businesses.

In particular, the high-level discussion also affirmed that one of the most important driving forces for sustainable economic growth is people. The more difficult the economy is, the more it is necessary to nurture this resource. Regarding this issue, Deputy Minister of Labor, Invalids and Social Affairs Nguyen Van Hoi said that the most prominent points in policy implementation since the beginning of the year are related to social security and ensuring employment opportunities for workers.

According to Mr. Nguyen Van Hoi, the most prominent point in the social security policy is that the Party, State, National Assembly, Government, all levels and sectors pay attention to economic development along with ensuring social security, in which the work of building institutions is of interest to the National Assembly and Government.

Many timely policies have been issued to promptly support people to overcome the consequences of the COVID-19 pandemic, support workers, the poor, and unemployed workers, and support loans for the non-structural sector in accessing capital and credit.

International delegates attending the forum

Along with that, focus on developing new markets, maintaining GDP growth rate and maintaining low unemployment rate thanks to tools and solutions to intervene in the labor market. For workers moving to rural areas, there are also timely credit packages to develop the economy in rural areas.

Health insurance policies are also well implemented, with an access rate of 87%; education and training support policies are implemented from preschool to university, vocational training; support for students in difficult circumstances is effectively implemented...

Mr. Nguyen Van Hoi said that the biggest difficulties in social security are unusual natural disasters and epidemics and the rapid aging of the population. “Therefore, the Ministry of Labor, Invalids and Social Affairs has proposed policies and mechanisms to support job creation for the elderly to have jobs suitable to their health and experience…”, Mr. Hoi said.

To have a more comprehensive view of the business sectors of the economy, the representative of foreign enterprises, the sector that has contributed greatly to Vietnam's economic growth in recent times - Mr. Choi Joo Ho, General Director of Samsung Vietnam Complex said that for Samsung Vietnam, the stagnation of the global economy and conflicts in the world have caused negative revenue growth for the first time since Samsung invested in Vietnam. Policies such as global minimum tax are also expected to have a big impact in the coming time.

Samsung Vietnam representative proposed to continuously improve the investment environment for foreign enterprises. There should be more specialized support policies for investors, especially new support policies for investors who have made great contributions to the development of the country, recruiting large numbers of employees...

In addition, technology transfer and training for Vietnamese enterprises need to be strongly developed in the coming time. At the same time, there needs to be budget support from the state so that these enterprises can develop quickly and rapidly.

Mr. Choi Joo Ho, General Director of Samsung Vietnam Complex expressed his honor to represent Samsung Vietnam to speak at this meaningful Forum.

In his closing remarks, National Assembly Chairman Vuong Dinh Hue affirmed that human resources are the core internal driving force of the economy. The World Bank believes that the main solution to achieving higher productivity growth lies in improving the characteristics of today's youth workforce.

The International Labor Organization (ILO) recommends studying and implementing the issuance of degrees or certificates practice in a substantial according to international standards, consistent with the professional capacity and skills of workers; helping to improve the qualifications and competitiveness of the labor force in the economy.

"The WB also recommends continuing to improve the social protection system to be adaptive, integrated, easily adjustable and modern to protect household against shocks more effectively, while improving social insurance coverage to increase resilience to unemployment risks and ensure income in old age," the National Assembly Chairman emphasized.

Withdrawing social insurance at one time is a very painful reality.
During the roundtable discussion session on "Improving labor productivity and ensuring social security in the new context" held that morning, one of the issues that delegates were interested in was social insurance.
Recently, the issue of increasing one-time social insurance withdrawal has received much attention, and it is necessary to amend and supplement relevant laws to overcome existing problems.
Deputy Head of the Central Economic Commission Nguyen Duc Hien asked Deputy Minister of Labor, Invalids and Social Affairs Nguyen Van Hoi to clarify the current situation of this issue and major directions on solutions included in the Law on Social Insurance to limit this situation.
Discussing this issue, Deputy Minister Nguyen Van Hoi expressed: "Withdrawing social insurance at one time is indeed a very painful reality. In the period 2016-2022, the number of people withdrawing social insurance at one time reached 3.5 million people."
According to Mr. Nguyen Van Hoi, the number of people who withdraw social insurance at one time often falls into the case of paying for less than 5 years (70%). The reason is that workers do not fully realize the role of social insurance in ensuring social security throughout life.
"Sometimes when workers have difficulties, they ask to withdraw social insurance while the amount is not large. After 5 years of payment, that amount is only equivalent to 5-10 months' salary, which is only about 25-30 million," said Deputy Minister Hoi.
Another reason mentioned by the Deputy Minister is that workers have low incomes and low savings. When they lose their jobs, they need money to solve immediate difficulties.
"The third reason is that many people still think the insurance system is not important in the future," said Deputy Minister Nguyen Van Hoi. Regarding solutions in the coming time, Mr. Nguyen Van Hoi said that the State needs to increase propaganda and raise awareness of workers about social insurance.
In addition, according to the leader of the Ministry of Labor, Invalids and Social Affairs, there should be policies to increase the attractiveness of social insurance; temporary support policies for workers in difficult immediate circumstances...
Deputy Minister Nguyen Van Hoi assessed that the amendment of the Law on Social Insurance is extremely important and necessary, and has been included in the Law and Ordinance Development Program for 2023-2024. The major directions of the law amendment aim to concretize Resolution No. 28 and aim to ensure social security for all people and ensure social security for the entire workforce.

Thanh Nhung

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