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Ho Chi Minh City banks practice ‘stay-at-work 'mechanism to maintain normal operations

Ho Chi Minh City banks practice ‘stay-at-work 'mechanism to maintain normal operations

Friday, July 30, 2021, 16:41 GMT+7
Ho Chi Minh City banks practice ‘stay-at-work 'mechanism to maintain normal operations
Tents are set up inside an Eximbank office in Ho Chi Minh City during the ‘three-on-the-spot’ implementation. Photo: P.H. / Tuoi Tre

Many lenders in Ho Chi Minh City have applied the ‘three-on-the-spot’ mechanism, one of two models required for production companies in virus-hit areas, to deal with difficulties caused by the COVID-19 pandemic.

To maintain economic growth during the pandemic prevention time, many firms in Vietnam have followed either the ‘three-on-the-spot’ or ‘one road, two places’ model.

In the first model, enterprises and employees must conduct production, have meals, and rest after work at the same place.

Enterprises and employees following the second protocol must arrange isolated production and accommodations at two separate locations, connected by a single transport route for workers to commute every day.

Under no obligation to implement any of the two aforementioned mechanisms, many banks in Ho Chi Minh City, including the Vietnam Export Import Commercial Joint - Stock Bank (Eximbank), the Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank), and the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), still stick to the stay-at-work mode to maintain normal operations during the current social distancing drive.

Eximbank has temporarily suspended transactions at more than 50 of its branches and transaction offices, according to the bank’s representative.

It has continued providing services at only about 30 venues, which are advantageous for pandemic prevention and health protection for customers and employees.

At the 30 active facilities, Eximbank’s employees have followed the ‘three-on-the-spot’ model.

In addition, employees at HDBank and Sacombank are subject to COVID-19 testing every five days and on a weekly basis, respectively, and work alternatively in different shifts.

As city authorities have enforced a ban on outdoor travels betweem 6:00 pm and 6:00 am the next day since July 26, it is hard for bank employees to finish their work before 5:00 pm every day and return home prior to the restriction hours.

The ‘three-on-the-spot’ implementation is expected to help bankers complete their tasks without spending time traveling and allow lenders to have a backup workforce, in case many of their workers are infected with the coronavirus or their residential areas are locked down.

“We have also prepared contingency plans to ensure smooth operation in unexpected situations,” a representative of Sacombank said.

The Ministry of Health on Friday morning confirmed 4,987 new domestic COVID-19 cases, including 2,740 infections in Ho Chi Minh City, taking the country’s tally to 133,405, with 31,780 recoveries, as recorded since early 2020.

Since April 27, when the pandemic’s fourth wave appeared in Vietnam, the city has accounted for 84,521 cases in the country’s total of 129,622 domestic infections and recently led the nation in daily new infections, with thousands of patients registered per day.

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