Foreign direct investment (FDI) enterprises' Lunar New Year (Tet) holiday bonuses in Ha Noi this year decreased due to price fluctuations and inflation, Le Tuan Huu, deputy director of the Ha Noi Department of Labour, Invalids and Social Affairs has said.

The highest bonus is nearly VND60 million ($2,860) and the lowest is VND200,000 ($9.5) whereas last year the highest bonus reached VND72.7 million ($3,460) and the lowest VND500,000 ($23).

The average bonus of FDI enterprises this year is VND4.2 million ($200).

Huu said this year the Government increased the minimum wage of workers by 39.1 per cent in the FDI enterprise sector.

With the minimum wage increase, the average income for workers in FDI enterprises is more than VND4 million ($190) per person, per month.

Meanwhile, the highest holiday bonus offered by a private enterprise in the city is VND67.3 million ($3,200) and the lowest is VND450,000 ($21).

The average bonus for the Tet holiday in state-owned enterprises is VND3.7 million ($176) per worker, an increase of 4.5 per cent compared to last year.

The highest bonus of state-owned enterprises is more than VND22 million ($1,047) and the lowest is VND300,000 ($14).

The city has more than 117,000 enterprises and about 97,000 of them are domestic enterprises with the remaining constituting the FDI sector, according to statistics from the Ha Noi Department of Labour, Invalids and Social Affairs.

Meanwhile, FDI enterprises in HCM City will offer the highest bonuses for New Year and Tet at VND700 million ($33,000).

The lowest bonus for New Year offered by FDI firms is VND600,000 ($29), and the lowest Tet bonuses, VND2 million ($95).

Employees at partly State-owned enterprises can receive an average bonus of VND2.5 million ($119) for the New Year and VND11.3 million ($538) for Tet.

Wholly State-owned enterprises have an average bonus for New Year of VND3 million ($143), and the average bonus for Tet, VND8.2 million ($390).

The highest bonuses for Western New Year and Tet at private enterprises are VND88.2 million ($4,200) and VND135 million ($6,400), respectively, while the lowest are VND910,000 ($43) for the New Year bonus and VND2.1 million ($100) for Tet.

Domestic enterprises at industrial parks (IP) and export processing zones (EPZ) have the highest bonuses for Tet, at VND99.2 million ($4,700), while FDI enterprises at IPs and EPZs offer VND77.8 million ($3,700), the highest bonus for Tet.

The lowest Tet bonuses at both types of enterprises is VND2 million.

The highest bonuses are offered by banks, real estate companies, dairy producers and cooling equipment manufacturers, according to the Department of Labour, Invalids and Social Affairs.

Small-scale enterprises and labour-intensive enterprises offer fairly low bonuses, the department said.

Most employees receive Tet bonuses equivalent to at least one month of salary.

VNS