What is the minimum wage in Vietnam
Vietnam increases the minimum wage
Prime Minister Tan Dung Nguyen recently issued a new ordinance to increase the monthly minimum wage by VND 250,000 to VND 400,000 (EUR 9.44-15.11) from January 2015, according to which the new monthly minimum wage in Region 1 is VND 3,100,000 (EUR 117,000) .09 EUR). 2,750,000 VND (103.87 EUR) in region 2, 2,400,000 VND (90.65 EUR) in region 3 and 2,150,000 VND (81.21 EUR) in region 4. This corresponds to an increase of 15.1 % compared to the current minimum wage.
In return, according to the law, employers are not allowed to reduce bonus payments and expense allowances.
Minimum wages were introduced by the government to monitor employment contracts between employers and workers. The head of the Vietnamese Chamber of Commerce and Industry said that minimum wages should be calculated on the basis of economic developments and taking into account company-specific challenges, especially during recessions.
"A massive increase in minimum wages in times when the economy cannot cope with it could lead to high unemployment figures," he added.
Before that, the Chamber of Commerce and Industry had proposed an increase in wages to VND 3,000,000 (EUR 113.31), the Ministry of Labor, Social Affairs and Invalids proposed a slightly higher increase to VND 3,050,000 (EUR 115.20), while the association recommended 3,400,000 (EUR 128.42) for workers.
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