Business News

[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.

[19-10-2015] The manufacturing industry is one of the three industries that will see the highest salary increase rate for the entire year of 2015. According to the “Vietnam Total Remuneration Survey 2015” released last week by Mercer and Talentnet Corporation, the chemical sector ranks first in the list with a rate of 10.3 per cent, while manufacturing and life sciences rank joint-second with a rate of 10.1 per cent.

[13-10-2015] The Vietnam Chamber of Commerce and Industry (VCCI) will propose solutions to the controversial region-based minimum wage hike, the director of the Bureau for Employers’ Activities at the organization said.

[12-09-2015] The minimum wage may increase by VND 250,000 – 400,000 (nearly US$12.5–20) since 2016, according to the draft decree prepared by the Ministry of Labor–Invalids and Social Affairs. The draft decree was introduced after the National Salary Council (NSC) on September 3 agreed to a 12.4% increase in minimum wage for 2016.

[09-09-2015] Minimum wage rise of 12.4% from next year, petrol prices cut by nearly 1,200 VND per liter and ground broken for two large-scale projects on Phu Quoc island are economic highlights from August 31-Septmber 5.

[31-08-2015] The rise in minimum wage may never have been as hot a topic as it is now. On August 25, 2015, the National Wages Council hosted a meeting to conclude the rise in minimum wage in 2016, but it wrapped up after four hours of hot debate without any agreement reached.