The Vietnam General Confederation of Labor recently required its units to complete organizational arrangements by June 15, ending trade union activities in government agencies. Business trade unions, representing the legal rights and interests of workers, are currently investing in shares of businesses, amounting to thousands of billions in total value. The Rạng Đông Trade Union (RAL) holds over 40% of its company’s shares, valued at nearly a thousand billion at current market price. VietinBank (CTG) is the largest investment for a trade union, holding over 61.6 million shares, worth about 2,400 billion. Other unions like ACB, BIDV, and VPBank also hold hundreds of billions in bank shares. Trade unions can purchase shares to optimize fund usage and usually acquire shares from workers leaving or selling after being offered at a discount. Businesses implement employee stock ownership plans (ESOP) at prices significantly lower than market value. Trade union funding depends on contributions from enterprises (2% of the wage fund), fees from workers, and dividends from stock investments. Some large companies have established financial investment organizations for trade unions to ensure effective financial sourcing.
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