Business News

[25-02-2016] Foreign experts working on aid projects for foreign non-governmental organisations and Vietnamese nationals employed full-time by UN organisations will soon be exempted from personal income tax. Both exemptions, recently approved by Prime Minister Nguyen Tan Dung, will take effect on May 1.

[22-02-2016] Circular No. 59/2015/TT-BLDTBXH, dated December 29, 2015, details and provides guidance on the implementation of provisions of the Social Insurance Law on Compulsory Social Insurance, which contains numerous new regulations regarding sickness and the maternity regime.

[28-12-2015] Viet Nam’s labor productivity constantly increased at an average rate of 3.9% in 2006-2015 period, said the General Statistics Office (GSO). Social labor productivity of the economy was estimated at VND 79.3 million per labor (around US$3.657), up 6.4% against 2014.

[23-11-2015] Since January 1, 2016, monthly minimum wage for employees will surge from VND 2.4 million (US$114) to VND 3.5 million (US$166), according to Decree 122/2015/ND-CP on monthly minimum wage for employees. The beneficiaries include employees who work for companies, enterprises, cooperatives, cooperative groups, farms, households, individuals and agencies, organizations employing laborers.

[23-11-2015] In the newsletter on Labour market published by the Ministry of Labour, Invalids and Social Affairs (MOLISA) in collaboration with the Vietnam General Statistics Office recently, indicators of market prospects and demand for labour from now until the end of 2015 were released, many of which are very significant indicators.

[13-11-2015] The National Assembly (NA) has assigned the Government to increase the minimum monthly salary of public servants by around 5% to VND1.21 million as from May 1, 2016. In a resolution on the 2016 State budget estimates which received approval from 392 of 435 deputies on November 11, the Government is also tasked with ensuring incomes of those whose wage coefficients are smaller than 2.34 will not be lower than the current levels.

[12-11-2015] Circular 41/2014/TT-BCT issued by the Ministry of Industry and Trade dated November 5, 2014 stipulates foundations and procedures to define foreign labourers’ internal movement in enterprises operating in 11 service sectors specified in Vietnam’s commitments schedule to the WTO not subject to labour licensing.

[30-10-2015] Although the National Wages Council, on September 3, approved the plan with the 12.4 percent increase in minimum wage in 2016, a lot of agencies, organisations and associations have submitted their different proposals to the Government.