The monthly minimum wage for employees in private firms in Viet Nam will increase from VND1.4 million ($66) to VND2 million (US$95) a month from October 1.
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| Workers at Donafoods' cashew processing factory |
According to a Government decree issued on Monday, the new minimum wage will apply equally to local enterprises and foreign-invested companies.
There are four minimum-wage bands for different parts of the country – VND2 million ($95), VND1.78 million ($81), VND1.55 million ($74) and VND1.4 million ($66).
The change means the lowest minimum wage band for employees of domestic firms has increased from VND830,000-VND1.4 million ($40-$66), while for foreign-invested enterprises it has risen from VND1.1 million-VND1.4 million ($52-$66).
The minimum wage will serve as the basis for calculating salaries, allowances and welfare benefits in line with the law.
Enterprises are being encouraged to pay their employees more than the minimum wage.
Under the decree, skilled employees should be paid seven times the minimum wage.
(Source: VNS)
