45,600 new jobs created in Hanoi in Q1

Hanoi: Over 45,600 new jobs were created in Hanoi in the first quarter of this year, representing 27.6% of the annual target and a 2.3% year-on-year increase.

The Vietnam Bank for Social Policies, entrusted by municipal authorities, played a key role by providing loans totaling 886.9 billion VND (36.95 million USD) to the poor and social welfare beneficiaries. This initiative is credited with creating employment opportunities for 13,900 workers.

The Hanoi Employment Service Centre facilitated job creation through various channels. They organised 54 job fairs with the participation of over 1,700 enterprises and 11,500 job seekers, resulting in over 3,700 successful placements. Additionally, the centre assisted 1,100 people with securing employment contracts for work abroad, primarily in Japan, Taiwan (China), and the Republic of Korea (RoK). Through guidance and referrals from businesses in the employment sector, an estimated 26,900 people found employment.

During the period, unemployment insurance benefits
totalling 450.4 billion VND were distributed to roughly 14,000 people.

The manufacturing and electricity production and distribution sectors saw workforce reductions of 2.9% and 0.4%, respectively. In contrast, the water supply and waste treatment sector experienced a 1.3% growth, and the mining sector witnessed a substantial surge of 49.7%.

Despite the positive employment figures, the data revealed a slowdown in business registration. The city granted certificates to 6,944 new businesses, reflecting a 6% decrease in volume and a 4% decline in total registered capital compared to the same period last year.

The number of dissolved businesses rose by 23% to 1,121, and nearly 12,400 others temporarily suspended operations, marking a 25% increase. However, there was a positive sign with a 10% rise in firms resuming operations, reaching 3,748./.

Source: Vietnam News Agency

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