Nhan Dan – Insurance enterprises on July 19 began advance compensation payments worth US$1 million to the Taiwan-invested Hung Nghiep Formosa Ha Tinh Steel Company, one of the businesses hit by recent disturbances in central Ha Tinh province. >> Advance compensation paid for affected firms in Dong Nai>> Damaged businesses in Binh Duong receive insurance money
An initial VND 6 billion (US$282,000) was handed over to Formosa representatives on Saturday, while the remainder would be paid in a few days’ time.
The advance payment affirmed insurance firms’ commitments and responsibilities to their customers and showed the Vietnam Government’s determination to ensure a safe and favourable environment for investors, especially foreign ones.
On the same day, the Ha Tinh provincial People’s Committee also provided financial support of US$1.5 million to help Formosa Ha Tinh overcome difficulties and stabilise production activities.
Formosa was the most heavily-damaged Taiwanese enterprise during rioting at the Ha Tinh economic zone on May 14. In May and June, the provincial tax department made VAT refunds totalling over VND 1 trillion (US$47 million) for Formosa Ha Tinh, with VND 483 billion (US$22.7 million) in May and VND 540.6 billion (US$25.4 million) in June.
Formosa Ha Tinh supported to recover business production Related image(s)
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