Vietnam Minimum Wage to Increase
Apr. 6 – Vietnam’s new minimum wage will increase from VND650,000 to VND730,000 for government and state-owned company employees effective May 1, 2010.
The new Vietnam minimum wage invariably affects monthly wage levels for other industries. Companies are then advised to prepare for the change accordingly since the revision will require that adjustments be made to health insurance contributions, social insurance, unemployment insurance and entitlements to other benefits for local employees.
The government will also increase pensions and social insurance allowances by 12.3 percent for civil servants; retired officials; qualified officials from communes, wards, and towns and servicemen and the unemployed.
Minimum Wage Levels to Rise for Foreign Companies in 2010
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