Vietnam to raise minimum salary for employees in foreign firms
9/1/2006 15:37
Vietnam will increase the minimum salary for people working in
foreign-invested enterprises (FIEs) by 39-47.9 percent from next month,
according to official sources.
Under a recent government decision, the
monthly salary is to rise to 710,000-870,000 Vietnamese dong (VND) (45-US$55) on
Feb. 1 from current 480,000-626,000 VND (30.4-US$40) according to locations of
FIEs, the Salary and Wage Department under Vietnam's Ministry of Labor, Invalids
and Social Affairs said on Monday.
The highest minimum salary rate is
applicable to FIEs operating in the inner areas of Hanoi and southern Ho Chi
Minh City; the medium rate, 790,000 VND (US$50), those in outskirts of the two
municipalities, the two northern cities of Ha Long and Hai Phong, the two
southern cities of Bien Hoa and Vung Tau and some districts of southern Binh
Duong province; the lowest rate those in the remaining areas.
The existing
minimum salary for FIE employees has been adopted since 1999, the department
said. Now, the monthly minimum salary of Vietnam's state employees is 350,000
VND (US$22), up from 290,000 VND (US$18) in October 2005.
As of late last
year, Vietnam housed 5,700 operational foreign- invested projects with total
registered capital of more than US$50 billion. It hopes to lure US$6 billion
worth of fresh investment and additional capital of existing projects this year,
according to the Ministry of Planning and Investment.
Xinhua News
|
