Consultants (L) give advice on social insurance (Photo: VNA)

HCM City (VNA) – Vietnam’s Social Insurance Agency (VSIA) will pay heed to engaging more social insurance participants and making administrative reforms in the last six months of the year, as heard a conference held in Ho Chi Minh City on June 24.

In a bid to develop social insurance coverage, the agency asked its branches to strengthen coordination with local agencies to keep updated on the number of newly-established or dissolved enterprises as well as labour fluctuations in local businesses, said Do Ngoc Tho, head of the VSIA’s social insurance policy implementation department.

Inspection of social insurance payments in those enterprises should be given priority, Ngoc highlighted, noting that strict punishments will be handed out to any firm reneging on paying insurance for its workers.

He laid stress on information and technology application in the VSIA’s administrative shakeup, which is billed as a decisive factor in carrying out social insurance and healthcare insurance policies.

The social insurance sector will work to complete a database of the sector to link with the national database. Online transactions for social insurance procedures and payments are scheduled to be carried out in 2016.

According to the VSIA report, the social insurance sector earned a revenue of 113.2 trillion VND (5.07 billion USD) in the first half of the year, accounting for 48.15 percent of the yearly plan and a year-on-year increase of 15.7 percent.

As of May 31, about 12.3 million people were members of the compulsory social insurance scheme, an increase of 1.2 million people from the same period last year.

Meanwhile, health insurance coverage reached 77 percent with nearly 80 million cardholders, fulfilling 98.3 percent of the Government’s set plan.-VNA