Vietnam announces National Day cash handouts worth $488m

HANOI — Vietnam will hand out 100,000 dong (S$5) to every one of its citizens to mark National Day on Sept 2, the government said, in a package that could cost the country as much as US$380 million (S$488 million).

The unprecedented move "continues to demonstrate the deep concern of the Party and State for all people," the government said in a statement Thursday (Aug 28) night.

The money could be transferred to people's bank accounts or paid in cash, and the central bank and finance ministry have been instructed to complete the payments before National Day on Tuesday next week, the statement said.

"I'm very surprised at the offer," said Hanoi resident Pham Tien Luat. "At first I thought it was just a hoax."

Vietnam's average worker salary rose 8.6 per cent last year to 7.7 million dong per month, according to official data.

"I'll use the money for coffee... that'll be three cups of coffee," Luat said.

The capital Hanoi is preparing to host Vietnam's largest National Day parade in decades next week as the Southeast Asian country celebrates the 80th anniversary of its declaration of independence.

State media reports said public transport in Hanoi and the business hub Ho Chi Minh City will also be free of charge on the day.

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