Hanoi's innovative approaches drive economic expansion and job creation

Nguyen Tay Nam, Deputy Director of the Hanoi Department of Labor, Invalids and Social Affairs, told Hanoimoi Newspaper that the department aims to meet its 2024 employment targets ahead of schedule.

An online job board in Hanoi. Photos: Thuy Truc

What has Hanoi done recently to get people into work?

From 2021 to 2025, Hanoi set an ambitious target of finding jobs for 160,000 people every year, which has been consistently exceeded in recent years.

In 2023 alone, Hanoi successfully placed nearly 215,000 people in jobs, reaching 132% of its planned target.

Building on this success, the city plans to help 165,000 people find jobs by 2024. As of July this year, Hanoi has already helped nearly 146,000 people into employment, reaching 88% of its annual target. 

With this momentum, I am confident that Hanoi will meet its employment targets well ahead of schedule this year.

What are some of the effective methods that have enabled Hanoi to excel in terms of job creation?

Nguyen Tay Nam, Deputy Director of the Hanoi Department of Labor, Invalids and Social Affairs.

We have made great strides in bringing employers and job seekers together through job fairs. 

The Hanoi Center for Employment Service has established a robust network that effectively links companies and candidates, working closely with major firms and staffing agencies to facilitate the recruitment process.

This approach not only reduces recruitment costs for companies but also speeds up the hiring process by giving job seekers access to reputable employers. Workers benefit from a diverse range of job opportunities while enjoying guaranteed rights and policies.

Moreover, the provision of subsidized loans has been instrumental in creating significant employment opportunities. In the first six months of this year, some 37,300 jobs were created through credit programs targeted at the poor and other vulnerable groups in the city. 

In addition, more than 2,200 people secured jobs through overseas labor export and over 8,700   found employment through the job exchange system.

These initiatives demonstrate Hanoi's commitment to fostering a vibrant labor market and improving the livelihoods of its residents.

Can you elaborate on how the credit program has contributed to job creation and helped poor households and vulnerable groups access soft loans for business and income generation?

This program is indeed a fundamental and effective solution aimed at creating sustainable livelihoods and ensuring social security. It's vital that this initiative is transparent and targets the right beneficiaries. That is why we place a strong emphasis on thorough verification and approval processes for financial reports related to the management and use of these funds.

To strengthen our employment initiatives, we are currently finalizing a draft resolution outlining the specific groups eligible for loans from the local budget to be disbursed through the Hanoi Policy Bank. 

We plan to present this document to the city's People's Council in September. The goal is to expand the range of eligible borrowers to facilitate production and business activities, thereby creating jobs and increasing incomes.

Since the beginning of 2024, the City People's Committee has allocated VND1.31 trillion (US$52.7 million) to the Vietnam Bank for Social Policies for job creation loans. These funds are essential to empower individuals and families to improve their economic situation and contribute to the overall growth of the community.

What strategies will the department focus on to maintain its gains and continue to exceed employment goals?

A job interview during the online job board.

One of the major challenges we face is the limited number of companies willing to hire individuals from special populations, such as those who have completed prison sentences, those who have been rehabilitated from substance abuse, and those living with HIV. Many of these workers are often unprepared for the job market and are primarily unskilled laborers.

To address this, we will focus our efforts on improving job counseling and job opportunities, especially for those receiving unemployment benefits and vulnerable groups, including people with disabilities and former drug addicts.

Many foreign-invested enterprises bring workers from their parent companies to Vietnam for critical phases of high-tech equipment production. This reality calls for a more proactive and engaged approach by vocational training institutions to ensure local workers are equipped with the necessary skills.

In addition, we will continue to work closely with local authorities and relevant organizations to hold job fairs. This year, we aim to hold 222 synchronized job fairs every day, as well as four specialized fairs, two joint recruitment events for people with disabilities, ten online job boards linked to other provinces, and 18 mobile job exchanges in various districts.

By implementing these strategies, we aim to create a more inclusive labor market and ensure that all groups, especially those facing barriers, have access to meaningful employment opportunities.

Thank you for your time!