(VOVworld) – NA deputies today continued to discuss a draft of the Revised Labor Code at the ongoing 3rd session of the 13th National Assembly.
The main items discussed were adjustments to minimum salaries, work hours, retirement age and maternal leave. Most agreed there is a need for more specific regulations on salary structure and salary discrimination. Some said the minimum salary should vary with the labor market. Ms. Ngo Thi Minh is a National Assembly deputy from Tra Vinh province: "Many workers work more than 200 hours of overtime each year for various reasons, but receive no overtime payment. We need to identify organizations that employ overtime workers and make them pay for the extra time".
Most deputies favored a retirement age of 60 for men and 55 for women. For some jobs, workers can retire a bit earlier than that. Retirement age should be increased, but no more than 5 years, for scientists, researchers, and technicians. Le Van Hoang, a NA deputy from Da Nang city: "Vietnam’s population is in a Golden Age, with an abundant labor force that will last for 30 to 35 years. According to scientists, if measures are taken in vocational training and the labor force is used properly, this will create favorable conditions for economic growth in many fields".
Deputies agreed on 6 months of maternal leave to assure breast feeding for 6 months.
The NA deputies also discussed the draft law on insurance for deposits today/ on Wednesday. The main contents included what kinds of deposits can be insured and the cost of insurance on deposits. At present, only individuals can insure their deposits but there are proposals to include businesses and enterprises. Most agreed insured deposits should only include Vietnamese currencies not foreign ones or gold as this may cause chaos in the monetary market and foreign currency stocks. Phan Van Quy is the NA deputy from Nghe An province: "The payment rate for deposit insurance is currently at 0.15 percent. A fixed cost for deposit insurance will not promote competitiveness between banks and cost should be based on risk".
Huynh Van Tiep is a NA Deputy from Can Tho province: "I agree with the National Assembly’s Standing Committee’s proposal to establish a Vietnam deposit insurance scheme, under the management of the State Bank of Vietnam. It is also necessary to specify the payment rate for the service in law to ensure transparency. The payment rate should be adjusted by the State Bank of Vietnam".