Report: Salaries in Vietnam are the Lowest in the Region
Jun. 8 – According to a Japan External Trade Organization (JETRO) report, the amount spent by companies on wages, land rent and power in Vietnam last year was competitively lower compared to other countries in the region.
The report looked at last year’s business costs in 30 cities across the region. It said that Japanese businesses paid Vietnam workers an average of US$95 monthly compared with US$131 to US$286 per month for workers in other countries. Moreover, water costs and leasing industrial land in Vietnam were also very cheap although office rents were considered high.
Vietnam has the advantage of having the lowest telephone charges in the region but had higher internet connection fees than neighboring countries like China, Thailand and Indonesia. JETRO recommended that Vietnam should develop its labor quality, legal transparency and reform administrative procedures to reduce indirect costs to investors and attract more investment.