The bonuses planned by enterprises in HCMC for their employees during the upcoming Lunar New Year holiday (Tet) will range from VND2.86 million to VND457 million, according to the city’s Department of Labor, Invalids and Social Affairs.

The department announced the figures based on the reports submitted by 900 enterprises in the city more than one month before the biggest holiday in Vietnam.

The highest and lowest Tet bonuses were reported by private firms and joint-stock companies operating at industrial and export processing zones in the city.

The Tet bonuses registered by enterprises operating outside the zones are from VND3.1 million to VND400 million.

Last year, a foreign-invested enterprise offered the highest Tet bonus of VND710 million. However, this sector only ranks third this year with the bonuses of VND3.15-301 million for employees working at industrial and export processing zones, and VND3-192 million for workers of the firms outside these zones.   

The department said retail, packaging and electronics enterprises offer higher Tet bonuses while small businesses pledge low bonuses. Some 139 businesses cannot give high Tet bonuses for their employees due to financial difficulties.

The department said enterprises tried to give the average Tet bonuses equivalent to one month of wage. In addition to bonuses, many companies plan to offer their employees gifts and coupons, cover transport fees for their trips back to hometowns, or organize year-end parties for them.

Many enterprises in HCMC also gave their employees bonuses of VND50,000 to VND583 million on the New Year holiday. The highest bonus was given by a foreign-invested company.

US$1 = VND21,100