VinaCapital Foundation Collaborates With The Youth Union To Support Vulnerable Groups Impacted By Covid-19 In Ho Chi Minh City

The VinaCapital Foundation (VCF) donates 1 billion VND to the Secretariat of Vietnam Youth Federation of Ho Chi Minh City (VYF of HCMC) to support vulnerable communities and frontline forces in Ho Chi Minh City through the Grassroots Assistance Program in the Covid-19 prevention and control measures program (Grassroots Assistance Program). The campaign aims to assist thousands of foreigners, healthcare workers, and needy Vietnamese people in HCMC amid the devastating fourth wave of COVID-19.

Since the end of April 2021, Vietnam has been experiencing an extremely fast-spreading outbreak with thousands of new cases in 62 municipalities and provinces. Recording high daily cases with multiple clusters in many places since the end of May, Ho Chi Minh City has become the locality with the highest number of infections in Vietnam. This worst-ever COVID-19 wave has not only put pressure on the overburdened frontline workers but also forced thousands of impoverished Vietnamese and foreigners into extremely challenging financial difficulties.

On the morning of August 28, 2021, at the Ho Chi Minh City Youth Cultural House, VYF of HCMC, Ho Chi Minh City Union of Friendship Organizations, and Department of External Relations of Ho Chi Minh City, VinaCapital Foundation, Khang Dien House Trading and Investment Stock Company, and Dragon Capital Vietfund Management launched this “Grassroots Assistance Program.” At the Launching Ceremony, the VYF of HCMC together with representatives of the donors signed the agreement to implement the Grassroots Assistance Program which has 3 missions as follows:

1. Supporting Vietnamese people affected by the Covid-19 pandemic.
2. Supporting distressed foreigners in the city that are held up in Vietnam because of the Covid-19 pandemic-related issues.
3. Provide medical supplies, meals, and necessities to frontline workers at quarantine sites, field hospitals, and COVID-19 treatment hospitals.

In immediate response to this meaningful campaign, VCF donates 1 billion VND to VYF of HCMC to provide essential assistance to frontline workers, struggling foreigners, people who have lost their jobs, and those with unstable and low-income employment due to the pandemic in the city from now to September 15, 2021.

At the launch ceremony Rad Kivette, CEO of VCF states, “It is VinaCapital Foundation’s honor to join hands with the VYF of HCMC to bring assistance to suffering local communities so that everyone has a chance to overcome these difficult times. VCF is proud to be one of the original 2 sponsors of this meaningful campaign with Khang Dien House Trading and Investment Stock Company. As the pandemic grows dramatically in the city, VCF will continue to do our best to ensure that the lives and livelihoods of those most affected are protected and preserved. I also want to thank Don Lam, Co-founder, and CEO of VinaCapital and VCF’s Board Chair, for VinaCapital’s generous support in this critical community effort.”

This local grassroots assistance activity compliments VinaCapital Foundation’s current ongoing capacity-building commitment to provide over $1 million in medical ventilators and PPE to local hospitals in HCMC and surrounding provinces. VCF’s mission is to create and implement programs that ensure all Vietnamese benefit from the enormous economic growth of Vietnam, especially those from disadvantaged and marginalized communities who face the most difficult challenges.