However, no specific salary levels have yet been established. The operating body has been officially functioning since December 18, 2025, and staff are currently being paid temporarily under the A1 civil servant salary coefficient, with the highest monthly salary at around VND11.6 million ($440) - far below private-sector pay levels in international finance.

More notably, over 88% of personnel at the operating body are not civil servants and therefore cannot be paid from the civil service payroll fund. The agency has consequently had to advance funds from its regular operating budget to cover salaries.

With VND5.8 billion ($220,000) currently available, this funding would be sufficient for only a little over two months. If the resolution is not adopted in time, most employees could face delays in receiving salaries and other legally mandated benefits, raising the risk of widespread resignations and disrupting progress in developing the international financial center.

The draft resolution establishes market-based salary ranges for individual positions and titles.

Under the proposal, the chairperson of the operating body would receive VND140-200 million ($5,300-$7,600) a month, while vice chairpersons would earn VND100-170 million ($3,800-$6,400).

Heads of departments and equivalent positions would receive VND70-140 million ($2,700-$5,300) per month, deputy department heads VND50-90 million ($1,900-$3,400), and specialists without managerial positions VND30-60 million ($1,100-$2,300).

For externally hired executives, the chief executive officer would receive VND450-850 million ($17,100-$32,300) a month, while the chief operating officer would be paid VND200-400 million ($7,600-$15,200).

The deputy director in charge of market development, or chief commercial officer, would receive VND100-180 million ($3,800-$6,800), while advisers to the chairperson and vice chairpersons would be paid VND70-300 million ($2,700-$11,400).

Support staff, including receptionists, drivers and security personnel, would receive monthly salaries of VND15-20 million ($570-$760).

In addition to their salaries, personnel would be eligible for annual and extraordinary performance-based bonuses. Funding for these bonuses would come from the city budget and be equivalent to 10% of the total annual payroll.

Funding for the scheme would initially come from the municipal budget in accordance with existing decentralization arrangements. Once the operating body begins generating lawful revenue as permitted by regulations, expenses would be covered by a combination of the two funding sources.

If the resolution is approved, the total annual cost is estimated at VND99.648 billion ($3.78 million). Of this, VND40.432 billion ($1.53 million) would cover salaries for officials, civil servants, public employees and other personnel on the payroll; VND1.166 billion ($44,300) would go toward support staff salaries; VND48.991 billion ($1.86 million) would pay domestic and international experts; and VND9.059 billion ($344,000) would be allocated to the bonus fund.

The HCMC People’s Committee said adopting the resolution is necessary to provide a legal basis for implementing the special salary and remuneration policies for personnel working at the operating body.

Phuoc Sang - Tuan Hung