Aspiration to join the Trade Union
With the goal and desire to unify the system of industry trade unions from the central to the grassroots level, over the years, the NHVN Trade Union has held working sessions and conferences with representatives of employers and leaders of foreign banks, joint ventures and foreign bank branches in Vietnam on the establishment of grassroots trade unions. The conferences were held in 2014, 2015 and 2018 in Ho Chi Minh City and Hanoi.
However, in reality, the number of foreign credit institutions with grassroots unions is still very limited. Currently, there are 60 100% foreign-owned banks, joint-stock banks, and foreign bank branches operating in Vietnam, of which 4 units have established trade unions, the rest have not yet established trade unions with about 8,250 employees. This has caused employees in these units to not be fully guaranteed legitimate rights and benefits, especially in the context of the current fluctuations in the banking labor market.
The opinions at the meeting focused on difficulties such as lack of personnel for Trade Union work...
The establishment of grassroots trade unions becomes urgent
At the meeting, Mr. Dao Minh Tu - Permanent Deputy Governor of the State Bank, Chairman of the Vietnam Bank Trade Union analyzed the benefits of establishing grassroots trade unions for employees and units. In particular, the Union plays an important role in protecting legitimate rights, supervising the implementation of labor contracts, wages, insurance regimes and benefits; the Union contributes to building a harmonious and stable working environment, thereby improving work efficiency and retaining high-quality workers. The establishment of the union also helps businesses comply with legal regulations, demonstrates social responsibility and enhances brand reputation.
The Chairman of the NHVN Trade Union emphasized that the presence of the Trade Union contributes to building a transparent and fair working environment, actively contributing to the overall progress of society...
After the Lunar New Year 2025, a number of commercial banks have cut staff on a large scale, increasing risks for employees. This is the time for trade unions to promote their role in protecting the legitimate rights of workers.
This requires the establishment and development of trade union organizations at foreign banks, joint ventures, and foreign bank branches in Vietnam to become more urgent than ever.
This need becomes even more important when the Vietnam General Confederation of Labor's pilot project for the industry-wide trade union model is being implemented into practice. The establishment of grassroots trade unions in these units not only contributes to improving the efficiency of credit institution management but also ensures that the SBVN Trade Union performs its function of representing and protecting the legitimate rights and interests of employees, creating a foundation for the sustainable development of the banking industry.
For credit institutions that have not yet established trade unions, including 100% foreign-owned banks, joint-stock banks, foreign bank branches in Vietnam, and the Vietnam Bank Trade Union always plays the role of representing and protecting the rights and interests of employees when there are documents and requirements related to registration of labor regulations, disciplinary action and union financial revenue and expenditure activities, as well as supporting units in caring for the material and spiritual life of employees...
Mr. Dao Minh Tu suggested that the Board of Directors and representatives of employers at 100% foreign-owned banks, joint venture banks, foreign bank branches in Vietnam and other credit institutions closely coordinate with the Vietnam Bank Trade Union in establishing grassroots trade unions in their units. The NHVN Trade Union is committed to accompanying, supporting in terms of organization, legality and providing detailed instructions for units to implement most conveniently and effectively.
The VBSP currently has 9 grassroots trade unions and 1,020 grassroots trade unions, of which 935 grassroots trade unions are directly managed by the grassroots trade unions and 85 grassroots trade unions are directly managed by the VBSP. The total number of union members in the whole industry is 347,000 out of a total of about 386,600 workers.
