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Enterprises facing difficulties due to economic recession, natural disasters, or the need to suspend production may be eligible for a temporary suspension of mandatory social insurance contributions for up to 12 months.
Speaking at a regular socio-economic press conference in Ho Chi Minh City on 16 April, Mr. Tran Dung Ha, Deputy Director of Ho Chi Minh City Social Insurance, said enterprises are allowed to pause contributions if they meet the regulatory conditions. He cited the 2024 Social Insurance Law and related guidance documents.
Under the regulations, enterprises that experience difficulties leading to an inability to pay social insurance may apply to pause contributions to the pension and death fund for a maximum of 12 months.
The conditions for pausing social insurance payments include cases such as:
Enterprises must also satisfy additional specific conditions, including being required to pause production or business for 30 days or more and being unable to provide work for employees, with the number of workers on pause accounting for 50% or more of the total workforce compared with before the pause.
For enterprises damaged by natural disasters, fires, or epidemics, the applicable condition is that the asset value damaged exceeds 50% of total asset value, excluding land.
Mr. Ha said that during the pause period, enterprises must continue to contribute to the sickness, maternity, occupational accident and occupational disease funds as prescribed.
When the pause ends, enterprises and workers must resume contributions and make up for the period that was paused.
After receiving a complete application from an enterprise, the Social Insurance agency will review and resolve the request within 10 working days. If the application is not approved, a written response must be provided stating the reason.
Mr. Ha noted that enterprises in Ho Chi Minh City continue to face considerable pressure in Q1.
In Q1, Ho Chi Minh City’s GRDP increased by 8.27%, the highest in about 10 years, suggesting the economy remained on a recovery path. However, input costs rose and market pressures affected production and business activities.
The business environment continued to improve, with more than 13,600 new enterprises formed, up 46.7% year-on-year, though cost pressures and the need to shift production remain challenges for many firms.
In this context, allowing enterprises to suspend part of their social insurance contributions is intended as a short-term financial support measure to help businesses maintain operations, retain workers, and support production recovery in the near term.
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