Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM SET TO RAISE MINIMUM SALARIES EARLY NEXT MONTH
Contract workers will have their salaries increased 6% as from early next month, according to a new decree issued by the Government.
Decree 38/2022/ND-CP on the regional salary increase, signed by on Sunday, June 12, Deputy Prime Minister Pham Binh Minh applies to workers who signed labor contracts as per the Labor Code, and employers such as businesses operating under the Enterprise Law, organizations, cooperatives, business households and individuals.
There will be four new minimum salary levels for four different regions of the country. In region one, the monthly salary will rise from VND4.42 million to VND4.68 million; in region two, from VND3.92 million to VND4.16 million; in region three, from VND3.43 million to VND3.64 million; in region four, from VND3.07 million to VND3.25 million.
For hourly wages, the decree also specifies four levels for four regions. Region one has an hourly wage of VND22,500; region two, VND20,000; region three, VND17,500; and region four, VND15,600.
Source: The Saigon Times
Related News
GREEN ECONOMY, DIGITAL ECONOMY BREAKTHROUGH OF VIETNAM-CHINA TIES: PM
Addressing a Hanoi seminar with 19 Chinese groups operating in green economy and digital economy, the leader said the meeting, the first of its kind, aims to materialise high-level perceptions reached by Party General Secretary Nguyen Phu Trong and Party General Secretary and President of China Xi Jinping, who agreed to build the Vietnam-China community with a shared future.
CONSUMER CONFIDENCE IN ECONOMIC RECOVERY REACHES FIVE-QUARTER HIGH
Vietnam's GDP expanded by a healthy 5.66 per cent in the first quarter of 2024, marking the strongest first-quarter growth since 2020. While slower than the previous quarter's 6.7 per cent growth, this momentum indicates the country is on track to achieve its 2024 economic targets.
THE VIET NAM IMPORT-EXPORT REPORT TO BE RELEASED THURSDAY
In particular, it includes an itemised import and export report, in specific markets and also includes an overview of all State management activities and policy mechanisms related to the import, export market along with details of all the legal documents issued in the year.
TAX AND FEE SUPPORT HINGES ON MPI PROPOSAL APPROVAL
“Business and production activities of enterprises remain in big difficulties. Domestic purchasing power has reduced and people are tightening their belts,” the MPI stated. “Demands in the domestic market are still standing at a low level, while manufacturing and processing enterprises have low competition. These are among the biggest difficulties.”
VIETNAM’S TEXTILE SECTOR BRINGS IN $37 BILLION IN FDI
The foreign-invested enterprises play an important role in the textile and garment sector, contributing 65 per cent to the sector’s total export turnover. Major investors mainly come from South Korea, Taiwan, Hong Kong, and China. Among them, South Korea is the largest foreign investor in Vietnam’s textile and garment sector.
FDI FLOWS STRONGLY INTO MANUFACTURING, REAL ESTATE
According to the General Statistics Office (GSO), the total FDI disbursed in Vietnam in the first four months of this year reached an estimated 6.28 billion USD, up 7.4 per cent year on year, the highest four-month amount in the past five years.