"Korean Companies Embarrassed by Vietnamese Government's Request to Cover Vaccine Costs"

[Asia Economy Reporter Suyeon Woo] The Vietnamese government’s demand for foreign-invested companies to participate in a joint fund for purchasing COVID-19 vaccines is increasing the burden on Korean companies operating locally.

According to local media and industry sources on the 5th, the Vietnamese government has recently been contacting Korean companies to participate in the vaccine fund, and it has been confirmed that text messages requesting mobile subscribers to contribute to the vaccine fund, along with payment account information, have also been sent.

Previously, the Vietnamese government announced plans to establish a vaccine purchase fund with support from private companies, allocating resources worth $1.1 billion (1.2317 trillion KRW) to secure a total of 150 million vaccine doses.

Additionally, last month, Deputy Prime Minister Vu Duc Dam stated that favorable conditions would be arranged for organizations and companies capable of importing vaccines. Regardless of past government approvals, all types of vaccines will be actively reviewed and approved for import in an open manner, with approval promised within five days of receiving vaccine import application documents.

Photo by EPA, Yonhap News

Companies operating locally are in a difficult position as the Vietnamese government continues to request contributions to the vaccine fund amid a significant decline in sales due to COVID-19.

A representative of a local company said, "It’s frustrating to face such demands while struggling with decreased sales caused by COVID-19," and another representative from a large corporation said, "We have no choice but to pay because we don’t know what disadvantages we might face if we don’t participate in the fund."

Not only companies but also public institutions are receiving similar requests and are in a dilemma. A public institution official said, "We explained to the authorities that we have no funds, but they repeatedly demanded support, saying that sufficient resources could be secured if support was received from companies," adding, "We have no choice but to show goodwill."

The Vietnamese government is known to have already secured a considerable amount of resources with the help of local public enterprises and private companies, but so far, no foreign companies, including Korean companies, have officially participated in the fund formation.

This content was produced with the assistance of AI translation services.