Accordingly, beneficiaries from the decision are all troubled enterprises which must cut 30% up of its labor force or dismiss at least 100 employees (not including seasonal ones with under-3-month contracts) and are unable to pay for these people after mobilizing their own resources.
The maximum loans given to an enterprise is equivalent to the sum to compensate for salaries and other pensions of the dismissed workers.
The Bank for Development of Vietnam will be in charge of providing these zero-interest-rate loans.
Also under the decision, for laborers losing their jobs in enterprises of which the owners run away in 2009, the provincial People’s Committees will allocate money from their local budget to pay wages. The advances will be reimbursed in full when liquidating the enterprises’ properties. All dismissed laborers, including the guest workers who must come home early because of the host employers’ difficulties, can access to loans from the National Employment Fund to create new jobs by themselves or attend vocational training courses.
They can also borrow money from the Social Policy Bank for 12 months since the date of their dismissal or repatriation.