Regional minimum wages to increase over US$ 10.3 next year
The Ministry of Labor, Invalids, and Social Affairs (MoLISA) has recently issued a draft decree on regional minimum wage increase in 2020. Accordingly, wage hike will range from VND 150,000 to VND 240,000.
With a rise of 5.5%, the regional monthly minimum wages of four different regions in Viet Nam will be raised in 2020; from VND 4.18 million to VND 4.42 million (up VND 240,000) for region 1, from VND 3.71 million to VND 3.92 million (up VND 210,000) for region 2, from VND 3.25 million to VND 3.43 million (up VND 180,000) for region 3, and from VND 2.92 million to VND 3.07 million (up VND 150,000) for region 4.
The current minimum wages have met over 95% of the minimum living standards of workers and their families.
With a hike of 5.5%, the new wages are expected to meet 100% of the minimum standards of living.
Regional minimum wages have been increased for three consecutive years, with a hike of 7.3% in 2017, 6.5% in 2018 and 5.3% in 2019. VGP