Higher Tet Bonuses Expected Next Year

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Photo:DHN/Creative Commons LicenseDec. 1 – Companies  say they are expecting to give out higher bonuses for 2010 Tet Holidays compared to the previous year due to improving business says Vietnam Net.

The director of the Wage Department under Ministry of Labour, War Invalids and Social Affairs (MOLISA), Tong Thi Minh, said that there was no official information about businesses’ Tet bonus levels but she expects the 2010 Tet bonuses to be higher than the previous year.

MOLISA has instructed local departments to send their reports for year-end and Tet bonus plans that have to be determined before December 20.

Minh told Vietnam Net that majority of businesses have recovered from the economic downturn thus businesses have been trying to recruit more workers in the last months of the year. She says businesses will offer high bonuses to retain workers.

Real estate, telecommunications services, tourism, consultancy, finance and banking are the sectors expected to give higher bonus packages. levels thanks to favorable business in 2009.

The holiday, Tet Nguyen Dan or Tet, is the country’s biggest and most important holiday. Tet is based on the lunar calendar and is celebrated the same day as Chinese New Year. During that time, Vietnamese gather together as families to visit a family altar or the graves of their ancestors.