Minimum Wage in Vietnam

What is the Minimum Wage in Vietnam?

If you are planning to move to Vietnam, you must know what the minimum wage is. There are different levels, from 3.07 million Vietnamese dong to 4.42 million. Let us examine the minimum wage in Vietnam to help you decide which job is right for you. Read on to discover the minimum wage levels and how much money you will have to spend to live in this country. We will also discuss how this wage can help you survive and thrive.

3.07 million Vietnamese dong

The minimum wage in Vietnam is currently set at 3.07 million Vietnamese dong, a relatively low rate of pay compared to many other countries. This is due in large part to the fact that the country has been hit hard by the Covid-19 pandemic, which has also caused many companies to raise their prices. However, the current minimum wage in Vietnam has been unchanged since the start of the year 2020.

According to the latest government statistics, the average monthly income per Vietnamese citizen and employee reached 4.19 million Vietnamese dong in 2020, a slight decrease from the previous year. In 2018, manufacturing labor costs in Vietnam, China, and Mexico averaged 2.73 U.S. dollars per hour. The highest minimum wage was recorded in Region I, at VND 4,200,000 (US$180) per hour, while the lowest was found in Region IV.

This is a significant increase from the previous level of 2.7 million Vietnamese dong. The Vietnam General Confederation of Labor (VGC) has proposed a regional minimum wage increase of seven to eight percent starting on July 1, 2022. While this increase would benefit both businesses and employees, it is unclear how the economy will respond to such a high increase. It is possible that the economy will be able to recover in time to meet the demands of the current increase in the minimum wage.

4.42 million Vietnamese dong

Currently, the minimum wage in Vietnam is between 3.07 and 4.42 million Vietnamese dong. According to a draft of the Labor Code 2019, the minimum wage will increase by 6% from July 1 next year. This raise represents a 180,000 to 260,000 VND increase on an hourly basis, but will not affect the monthly minimum wage. The draft also identifies the minimum wage range by region.

In general, the minimum wage in Vietnam is 4.42 million Vietnamese donggo per month. However, minimum wages vary by region, with the national minimum wage being higher in major cities and lower in smaller towns and provinces. In addition, the Labor Code limits the number of working hours to forty hours a month, and overtime must be no more than four hours per day. Contract overtime is limited to a maximum of forty hours per month, but may be more than 300 hours a year in certain industries.

The government’s announcement to increase the minimum salary comes at a time when the country has seen a resurgence in the economy. While foreign investors are clamoring for higher wages, local businesses are looking to boost employee morale. It is estimated that up to 56% of workers are living below the minimum wage. If this trend continues, the Vietnamese economy will likely suffer for years to come.

4.68 million Vietnamese dong

In accordance with the draft law, minimum wage in Vietnam will increase by 6% on July 1. That is around 180,000-260,000 VND per month. The minimum wage in Region I will go up to 4.68 million VND while that in Region II and III will increase by about the same amount. The minimum wage in Vietnam currently varies between 3.07 and 4.42 million Vietnamese dong. The government has set these minimum wages to make it easier for employers to hire workers.

According to the Vietnamese Labor Code, a minimum wage of 4.68 million VND is set to cover the basic living expenses of workers. In an attempt to ensure a decent standard of living for workers, the minimum wage is higher than it used to be. A recent survey by the Vietnam General Confederation of Labor found that 55% of workers are living below the minimum wage while 25% are spending frugally and 13% don’t have enough money to meet their basic needs.

This rise is in accordance with the demands of labor unions and employers. According to the Vietnam General Confederation of Labour, the minimum wage will increase by 6% on July 1, which will be between 180,000 and 260,000 VND. The minimum wage in Region 1 will be 4.68 million VND, while those in Regions 2 and 3 will see their salaries rise by around 400,000 VND. This raise has triggered a massive backlash from the business community.

4.69 million Vietnamese dong

As the country struggles with the ongoing AIDS epidemic, the minimum wage in Vietnam has been set at 4.69 million Vietnamese dong. However, the government is considering a regional increase to this wage in 2022. The government hasn’t made any changes in the minimum wage in the past two years. Businesses are continuing to maintain their wages under Decree 90/2019/ND-CP, despite the proposed increase.

According to trade union surveys, a third of the Vietnamese population is destitute, is in debt, and acquires “shark loans” to meet their basic living expenses. In fact, 12% of the country’s population regularly borrows money for basic living expenses. This figure has been set by the National Wage Council. It’s not clear whether the new minimum wage will improve the situation, but it’s worth checking.

In Vietnam, salaries vary widely. For example, the lowest salaries are found in the customer service, administrative, and accounting sectors. Meanwhile, the highest salaries are found in IT, finance, marketing, and banking and financial services sectors. Currently, the median salary for a Vietnamese worker is 16,200,000 VND per month, while the minimum salary for workers ranges from 3.07 million VND to 4.42 million VND per month, or approximately 133 to 191 USD per month.

4.70 million Vietnamese dong

The Vietnamese government has postponed an annual increase in regional minimum wages until 2022. The proposed increases range from 7 to 8%. In the meantime, the minimum wage is 4.70 million Vietnamese dong, a drop of 27% from its 2014 peak. The government has argued that this is not enough to combat the epidemic, and is not doing enough to address the growing number of employees. But in a bid to increase wages for both employees and businesses, the government must raise the regional minimum wage.

While the wage gap between the two sectors is substantial, it remains low compared to that of the U.S., where a CEO’s salary can reach up to three times that amount. Another factor influencing the wage gap is the difference between state-owned and privately owned companies. State-owned companies are notorious for their low pay, with most state officers and employees holding low-paying positions in core professions. Private-sector employees, on the other hand, may earn much more than their state-owned counterparts.

Despite the high wage gap, Vietnam is still in transition. While the country has recovered strongly in the first quarter of this year, many workers are still struggling to make ends meet. This situation is unsuitable for the nation’s development. The minimum wage in Vietnam is 4.70 million Vietnamese dong per month. But the average salary in Vietnam is only half of that. If you’re looking for a job in Vietnam, you’ll find some decent opportunities in this country.

4.90 million Vietnamese dong

The minimum wage in Vietnam is currently 4.90 million Vietnamese dong per month. The government has postponed the annual increase of the regional minimum wage to 2022. While the increase would help businesses, it will also be a benefit to employees. The Vietnam General Confederation of Labor (VGC) has proposed an increase of 7-8 percent for regional employees in 2022. This would benefit both workers and businesses.

The salary differential is large between different positions. Administrative staffs generally earn around 5 million to 6.5 million VND. CEOs earn between 100 million and 300 million VND. The wage differential is also significant between state-owned companies and private ones. The difference is largely due to the fact that most state officials and employees work in low-paying jobs, notably in core professions. On the other hand, state officers in other industries earn much more than those in the private sector.

While Vietnam has a minimum wage of 4,906 VND per month, most people make much more. The lowest paying sectors include customer service, administrative, and accounting. However, the highest paying sectors are IT, banking, civil engineering, and marketing. While the minimum salary in Vietnam varies from 3.07 million to 4.42 million VND per month, the average salary is around 16,200,000 VND/month. However, this does not reflect the salaries of all Vietnamese workers.

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