HCMC – The National Assembly on June 16 passed an amended Employment Law that expands access to overseas work loans and promotes job creation in emerging sectors such as digital transformation and green economy.
The law, which will take effect on January 1, 2026, sets out clear policies on job creation support, vocational skills development, labor market information, employment services, unemployment insurance, and state management in the sector, according to the Vietnam News Agency.
One notable change is the expansion of groups eligible for subsidized loans to work abroad under contract, aimed at improving workers’ access to low-interest credit.
In addition, the national employment fund will be converted into a central budget allocation for the Vietnam Bank for Social Policies to enhance the efficiency of job creation lending.
The law authorizes the Government to expand eligibility for low-interest loans based on the socio-economic context. This applies to loans for job creation, job retention, and overseas employment.
It also introduces policies to promote employment in emerging fields such as science, technology, innovation, digital transformation, circular economy, and green economy. These measures aim to improve access to job opportunities for young workers, rural and mountainous communities, persons with disabilities, and women entrepreneurs.
Regarding job support policies, several lawmakers proposed expanding eligibility to include public officials and civil servants affected by organizational restructuring, Vietnamese workers abroad, and foreign workers in Vietnam.
However, the National Assembly Standing Committee argued that these groups are already covered by other specialized laws and do not need to be included in the Employment Law.
