31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Vietnam allocates over US$15 billion for Covid-19 fight in 2020-2021
Ngoc Mai 16:37, 2022/06/12
Since 2020, Vietnam has faced four outbreaks of Covid-19, for which the government has mobilized resources to help businesses and people overcome the impacts of the pandemic.

The Vietnamese Government has allocated over VND351 trillion (US$15.1 billion) and 142,000 tons of rice for localities in the fight against the Covid-19 pandemic during the 2020-2021 period.

 A quarantine zone in Hanoi during the fourth outbreak last year. Source: MoH

The State Audit of Vietnam (SAV) revealed the figures in a report submitted to the National Assembly.

According to the agency, since 2020, Vietnam has faced four Covid-19 outbreaks, for which the Government has mobilized resources to aid businesses and people in overcoming the pandemic impacts.

In line with financial support, the Government also offered tax relief worth a combined VND183 trillion ($7.9 billion) for the business community.

The State Bank of Vietnam (SBV), the country’s central bank, has instructed banks and credit institutions to write off debts and restructure debt payments worth over VND91.4 trillion ($4 billion) for nearly 470,000 customers.

Banks have also forgone profit of VND37 trillion ($1.6 billion) by cutting interest rates for customers and waiving transaction costs for businesses and people conducting online payments for a total of VND2.3 trillion ($100 million).

In 2020, the Government issued Resolution No.42 on economic recovery and granting welfare, for which social vulnerable groups received a total of VND14 trillion ($604 million) in cash support.

Such a policy was extended until 2021 under resolution No.68 with a support amount of VND14 trillion.

In 2021, Hanoi’s authorities have provided financial support worth VND6.6 trillion ($285 million) for 5.35 million people suffering the Covid-19 impacts. Hanoi along with Ho Chi Minh City was among those hardest hit by the fourth outbreak last year.
TAG: Vietnam Covid-19 Vietnam state budget vietnam supporting policies
Other news
18:16, 2023/16/04
Vietnam State Treasury to raise US$17 billion through Gov’t bonds in 2023
Government bond is an important source of revenue for the state budget and supports the development of the capital market.
12:00, 2023/00/22
Hanoi eyes comprehensive development in 2023: Mayor
In 2023, the city is determined to successfully implement its yearly socio-economic goals and realize part of the 2021-2025 key development tasks.
16:54, 2023/54/18
EU, Germany fund to enhance public financial management in Vietnam
A robust public finance management system will enable Vietnam to achieve its long-term socio-economic growth.
13:56, 2023/56/17
Vietnam proposed 30% cut in land lease in 2023
Last year, a similar cut caused the state to miss out on VND3.5 trillion (US$150 million) in revenues.
14:58, 2023/58/14
Vietnam's foreign reserves to return to US$100-billion mark by year-end
During the first 10 months of 2022, the State Bank of Vietnam (SBV) was forced to sell an estimated 20% of total foreign exchange reserves to stabilize the exchange rate.
11:03, 2023/03/07
Vietnam’s 2023 GDP growth forecast at 7.2%: Standard Chartered
The forecast comes from the country's solid growth of 8% in 2022.