Vietnam raises minimum wage by 6%

By Hong Chieu   July 1, 2024 | 03:59 am PT
Vietnam raises minimum wage by 6%
A worker at a textile factory in Da Nang, June 2024. Photo by VnExpress/Nguyen Dong
Vietnam's workers' minimum monthly salaries are increased by 6%, or up to VND280,000 ($11), starting Monday.

A governmental decree issued on Sunday stated that the minimum monthly and hourly salaries of workers in businesses would be increased by 6%, per a proposal by the Ministry of Labor, Invalids and Social Affairs. The increase is deemed to be balanced between the interests of workers and businesses, and ensuring the minimum living standards in 2025.

Depending on different regions, the minimum monthly salary will increase to up to VND4.96 million, while the minimum hourly wage will increase by up to VND23,800.

This is the second time in the last four years where the minimum wage is increased at the beginning of July, the last time being in 2022 due to the impacts of the Covid-19 pandemic. Usually, over the past 10 years, the minimum regional wage would be increased at the beginning of the year.

Besides the minimum wage increase, starting from Monday, the basic salary for state workers will also increase by 30%, from VND1.8 million to VND2.34 million a month, while pension will increase by 15%.

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