Tag Archive for ‘minimum wage’

Vietnam minimum wage hikes seen sending production costs soaring

The forthcoming spikes in the region-based minimum wages are expected to improve workers’ incomes but production costs in labor-intensive industries will certainly pick up. The Ministry of Labor, Invalids and Social Affairs, which is drafting a decree on the region-based minimum wages, proposes a wage increase of 6.5%, or VND180,000-230,000 a month, which would go […]

Reducing VIetnam’s Public Investment to Increase Salary Level

After a review of the expense budget, the Finance Ministry forecasted that about VND20,700 billion will be used to increase the minimum wage from VND1.05 million to VND1.15 billion in 2013. Public investment will be reduced to compensate for the increase What is being discussed in the National Assembly is garnering much attention from the public. One of the pressing issues is a plan to increase the minimum wage…

Vietnam set to raise minimum wage by nearly 10 percent

Frugality may allow Vietnam to raise the minimum wage for state employees by VND100,000 (US$4.8) per month beginning next July, the Finance Ministry said in a Wednesday report. The report released at a session of the National Assembly said the ministry has gone over the state budget again, and having considered opinions from various legislators, […]

Put workers first

Not fair to make state employees suffer for policymakers’ mistakes by denying them much-needed raise, economist says…

Vietnam NA to postpone wage increase

HA NOI (VNS)— The Government is likely to delay its planned increase of the minimum wage next May due to shrinking State budget revenues. Despite planning to increase the minimum wage from VND1.05 million (US$50.5) per month to VND1.3 million ($62.5) in May next year, deputies at a National Assembly meeting last week proposed delaying the increase. The move will affect seven million people on the State payroll, as well as retired people. Finance Minister Vuong Dinh Hue said that because of a decrease in State budget revenue, it was difficult to secure…

Vietnam Ministry Says No Money For Wage Hike, Legislators Say Cut Other Spending

The Finance Ministry

Vietnam labor ministry promises wage increase for business sector

The Vietnamese government will go through with its plan to not increase the minimum wage nationwide next year, but a labor ministry official said that wages within corporate sector will be raised as scheduled. Pham Minh Huan, deputy head of the ministry, officially known as the Ministry of Labor, Invalids, and Social Affairs, said the government…

Vietnam Government Wants To Delay Pay Raises

The government said it may not be able to apply an increase in the minimum wage as expected from May 1, 2013 due to a lack of finances. Minister of Finance Vuong Dinh Hue, on behalf of the government, delivered a report on state budget estimates for 2012 and 2013 to the National Assembly on October 22. According to Hue if the government increased the minimum wage from current VND1.05 million (USD50.31) to VND1.3 million (USD62.29) per month and pensions from a current 25% to 30% beginning from May 1, 2013, it would need around VND60 trillion (USD2.87 billion). However, the government has just arranged…

Vietnam Cutting Spending, Weeding Out The Inefficiencies To Increase Salary

VietNamNet Bridge – On the sidelines of the National Assembly session, deputies shared their opinions about salary increase with VietNamNet on October 22. Minimum wage increase may be postponed Earlier, the government stated that it wanted to delay wage hike. The resources are not enough to raise the minimum wage to VND1.3 million on May 1, 2013 as scheduled, said a report of the Government put forward at the National Assembly (NA) meeting on Monday, October 22. Authorized by the Prime Minister, Minister of Finance Vuong Dinh Hue delivered the report on the State budget in 2012 and budget estimate and allocation plan for next…

Vietnam Wage War

Vietnamese legislators are split on a government plan not to raise minimum wages next year, with one side worrying about depleted state coffers and the other aiming to spur consumption. A group of lawmakers led by the National Assembly chairman opposed the plan at a meeting Tuesday, arguing that raising the minimum wage would be […]