Hanoi: Nearly 7.5 million trade union members and workers across Vietnam have received support to have a better Lunar New Year (Tet) holiday, according to reports by 74 out of 82 localities and units nationwide.
The support was worth over 4.24 trillion VND (173.7 million USD) in total, including nearly 1.8 trillion VND from non-State sources.
According to the VGCL, on the occasion of Tet 2024, the Vietnam General Confederation of Labour (VGCL) and trade unions at all levels coordinated with the Vietnam Fatherland Front Central Committee and agencies to assist 248 delegations from the Party, the State, the National Assembly, and the Government to deliver Tet gifts to 32,200 workers.
Trade unions at all levels have organised 14,664 Tet programmes, attracting over 3 million members and workers. More than 1.8 million trade union members and workers received gifts worth over 1 trillion VND at the programmes.
According to VGCL Vice Chairman Phan Van Anh, diverse activities were organised for workers including f
ive-fruit tray displays, chung cake-making competitions, lucky draws, folk games, legal advice, zero-dong booths, and cultural and art activities.
In addition, localities, units and organisations offered scholarships to workers’ children, and disadvantaged children.
Workers who work far from home were given free travel tickets to return home for the Tet celebration.
More than 162,800 trade union members and workers were given train/bus/plane ticket support worth nearly 76 billion VND. Trade unions at all levels organised and coordinated with agencies, units and employers to provide 3,382 free bus trips to bring over 112,000 workers to their hometowns./.
Source: Vietnam News Agency
Bangkok, Mr. Montree Mahaprukphong, Vice President of the Federation of Thai Industries (FTI), revealed the results of the 37th FTI CEO Poll in January 2024 under the topic ‘High interest rates, rising debt, the industry is… What next?’ It was found that F.T.I. executives were quite concerned about the Monetary Policy Committee (MPC) maintaining the policy interest rate at 2.5% for a long period of time. Although it is understood that in the past the Bank of Thailand (BoT) has tried very hard to create balance in the management of the country’s monetary policy. Both in the economic dimension and in strengthening the stability of the baht value. However, interest rates have increased. It has quite an impact on SMEs, which are the largest proportion of entrepreneurs in the country. and is in the process of recovering from the impact of COVID-19. and the need to quickly adjust the business to cope with the problem of production costs that have increased in almost every product over the past year.
The differe
nce between loan interest rates and deposit interest rates or spreads of commercial banks. that are too far apart are the top priority of countries in ASEAN causing Thai entrepreneurs to bear increased financial costs Resulting in a delay in business expansion or new investment. Increases the risk of lack of financial liquidity and debt default. Including affecting the purchasing power of the people. Therefore, we propose that the Bank of Thailand consider issuing measures to supervise financial institutions in setting interest rates for both deposits and loans. Including the announcement of an appropriate interest rate spread (Spread) to help reduce financial costs for entrepreneurs.
In addition, it is seen that the measures to solve the debt problem throughout the system that the government is currently implementing are It will help solve the debt problem for the people, the agricultural sector, and the business sector that have accumulated for a long time at a moderate level. As for the industrial sector,
it is proposed that the government issue low-interest loan measures for SMEs through state financial institutions. To develop potential in the production process and enhance financial liquidity. It should also help consider reducing the conditions for accessing credit to make it more convenient.
Source: Thai News Agency