Establishing, organizing activities and managing the Overseas Employment Support Fund of Vietnam

Establishing the Overseas Employment Support Fund of Vietnam

Pursuant to Article 3 of the Decision 40/2021/QĐ-TTg (effective from 21/02/2022) stipulating establishment of overseas employment support funds of Vietnam as follows:

1. Establishing the Overseas Employment Support Fund under the Ministry of Labor, War Invalids and Social Affairs in order to support the development, stability and expansion of the market; preventing, reducing and overcoming risks to employees and businesses; protecting the legitimate rights and interests of employees.

2. The Fund has its head office located in Hanoi City and has a website.

3. English transaction name of the Fund: Fund for Overseas Employment Support, abbreviated as FES.

Legal status of the Overseas Employment Support Fund of Vietnam

Pursuant to Article 4 of the Decision 40/2021/QĐ-TTg (effective from 21/02/2022) stipulating legal status of the Overseas Employment Support Fund of Vietnam as follows:

1. Fund is an off-budget state financial fund, operating for non-profit purposes.

2. The Fund operates under the model of a public non-business unit that covers its own recurrent and investment expenses.

3. The Fund has its own legal status and seal, independent accounting, separate financial statements, and may open accounts at the State Treasury and commercial banks lawfully operating in Vietnam in accordance with regulations of the law.

Organizational structure of the Overseas Employment Support Fund of Vietnam

Pursuant to Article 5 of the Decision 40/2021/QĐ-TTg (effective from 21/02/2022) stipulating organizational structure of the Overseas Employment Support Fund of Vietnam as follows:

The Fund's organizational structure consists of the Management Board and the Fund's executive agency.

1. The Fund Management Council has 5 members, including the Chairman, Vice Chairman and members working full-time or part-time by the Minister of Labor, War Invalids and Social Affairs' appointment, dismissal, commendation and discipline. The Chairman of the Fund Management Council is the leader of the Ministry of Labor - Invalids and Social Affairs, the Vice Chairman and the members are representatives of relevant units under the Ministry of Labor - Invalids and Social Affairs, the Ministry of Finance, representatives of several agencies. The Fund Management Board has a working term of 5 years and can be re-appointed.

2. The Fund's governing body consists of the Director, Deputy Director, Chief Accountant, Operations Department and Fund Office.

3. Duties and powers of the Fund Management Council

a) The Fund Management Council uses the seal and personnel of the Fund's executive agency in performing the tasks and powers as prescribed in this Decision;

b) Approve the 5-year and annual operation plan and direction of the Fund; decide on investment plans to ensure efficiency, safety and transparency, and approve the Fund's annual budget estimates and final settlement reports;

c) Consider, propose and submit to the Minister of Labor, War Invalids and Social Affairs for decision on appointment and dismissal of the Director of the Fund;

d) Decide to promulgate operational regulations of the Fund Management Council; promulgate according to its authority the operation regulations of the Fund;

dd) Approve the principles and specific support levels for employees as proposed by the Fund's executive agency within the support framework specified in Articles 10, 11, and 12 of this Decision;

e) Decide on planning, appointment, dismissal, recruitment, evaluation, commendation, discipline, salary payment, bonus, setting up bonus and welfare fund and other regimes and policies for the Fund's Executive Agency;

g) Inspect and supervise the operation of the Executive Agency in the observance of policies and laws, implement the decisions of the Management Board ensuring the support according to the right subjects, contents, strict and uniform process;

h) Take responsibility before the Minister of Labor, War Invalids and Social Affairs and before the law for the decisions of the Fund Management Council.

4. Duties and powers of the Chairman of the Fund Management Council

a) Take responsibility for the work of the Fund Management Council, organize the assignment of tasks to members to perform the tasks and powers of the Fund Management Council;

b) Issue decisions and documents on behalf of the Fund Management Council on behalf of the Fund Management Council;

c) Convene and chair meetings of the Fund Management Board or collect opinions of members;

d) On behalf of the Fund Management Council, submit to the Minister of Labor, War Invalids and Social Affairs to appoint and dismiss the Director, Deputy Director and Chief Accountant of the Fund;

dd) Organize the performance of tasks of the Fund Management Council, monitor and supervise the implementation of the direction, operation plan, management and administration results of the Fund's Director;

e) Perform other tasks assigned by the Minister of Labor, War Invalids and Social Affairs.

5. Rights and responsibilities of the Vice President and members of the Fund Management Council

a) Attend meetings, discuss, recommend and vote on issues of the Fund Management Council;

b) Perform the tasks and tasks assigned by the Fund Management Council and the Fund Management Council President;

c) Exercise other rights and perform other obligations in accordance with the Regulation on operation of the Fund Management Council.

6. Rights, obligations and responsibilities of the Fund's Director

a) The Fund's Director is the legal representative of the Fund appointed and dismissed by the Minister of Labor, War Invalids and Social Affairs at the proposal of the Chairman of the Fund Management Council and working under the full-time or part-time regime, having a term of 5 years and can be re-appointed;

b) Organize and administer the Fund's operations, report on the performance of tasks under the decisions of the Fund Management Council, the Ministry of Labor, War Invalids and Social Affairs;

c) Submitt to the Fund Management Council for decision on the direction, operation plan, financial plan and financial statements as prescribed in this Decision; organize the implementation of orientations and plans after they are approved by the Fund Management Council;

d) Submit to the Fund Management Council the operation regulations of the Fund, the plan on organizational apparatus and payroll of the Fund's executive agency; Appoint, relieve from duty, reward and discipline the Fund's Deputy Director, Chief Accountant and other Fund management titles as prescribed in this Decision;

dd) Formulate and submit to the Fund Management Board for approval the principles and specific support levels for employees specified in Articles 10, 11, and 12 of this Decision according to the degree of injury, illness and duration. worked abroad under the employee's contract;

e) The Fund's Director is responsible for periodically reporting to the Fund Management Council on the Fund's operation;

g) Recruit, appoint and dismiss personnel according to their competence;

h) Prescribe the functions and tasks of the Operations Department and the Fund Office;

i) Exercise other rights and perform other obligations as assigned and authorized by the Chairman of the Fund Management Council and the Minister of Labor, War Invalids and Social Affairs in accordance with the Fund's functions and tasks;

k) Comply with the law, perform the assigned rights and obligations as prescribed in this Decision; to comply with the decisions of the Fund Management Council;

l) Take responsibility before the Fund Management Council, the Minister of Labor, War Invalids and Social Affairs and before the law for the performance of assigned and authorized tasks and powers.

7. Responsibilities and powers of the Fund's Deputy Directors, Chief Accountant and units under the Fund

a) The Deputy Director of the Fund assists the Fund Director as assigned and authorized by the Fund Director; take responsibility before the Fund's Director and before the law for the assigned or authorized tasks;

b) The chief accountant is responsible for organizing the accounting work in accordance with the provisions of the law on accounting, assisting the Director of the Fund in supervising the financial activities of the Fund in accordance with the provisions of the law on finance; accountant; take responsibility before the Fund's Director, the President of the Fund Management Council and before the law for the performance of assigned tasks and powers;

c) The Operations Division and the Fund Office shall perform the functions and duties as decided by the Fund's Director.

8. The Fund shall exercise autonomy in personnel, and may decide on employment positions and the number of people working in accordance with the Fund's functions and tasks and the actual situation in the course of operation. The regimes and policies for employees of the Fund's operating agency shall be applied in accordance with the provisions of the Labor Code, the law on cadres, civil servants and public employees and other relevant regulations.

Operating principles of the Overseas Employment Support Fund of Vietnam

Pursuant to Article 6 of the Decision 40/2021/QĐ-TTg (effective from 21/02/2022) stipulating operating principles of the Overseas Employment Support Fund of Vietnam as follows:

1. Ensure publicity, transparency, thrift and efficiency, use for the right purposes and in accordance with the provisions of law.

2. Funds' revenues shall be transferred to the Fund's accounts opened at the State Treasury and commercial banks for use and management in accordance with law. The Fund may use up to 50% of the Fund balance of the preceding year to deposit with a term at a Vietnamese commercial bank, but the maximum term is not exceeding 03 years. Deposit levels, deposit terms, and bank branches that receive deposits are decided by the Fund's Director based on the Fund investment plan approved by the Fund Management Council. Interest on bank deposits is added to the Fund's annual revenue.

3. Receive, manage and use aid and sponsorship in accordance with law.

4. Annually, the Fund's executive agency shall make estimates of the Fund's revenues and expenditures and regular expenditures on fund management activities and submit them to the Fund Management Council for approval.

5. Revenue, expenditure, finalization, financial disclosure and reporting regime in accordance with the Law on Accounting, the Law on State Budget and relevant documents.

6. Annually publicizing operation results and audit results in accordance with law on the portal of the Ministry of Labor, War Invalids and Social Affairs. Fund balance of the previous year is carried over to the following year for continued use.

7. Manage and use assets in accordance with the law on management and use of assets; regulations on management and use of public property.

Best regards!