return icon

The companies top for payroll in Vietnam

 VietNamNet Bridge – In this list are the corporations in the fields of oil and gas, power and finance-banking.

VietNamNet Bridge – In this list are the corporations in the fields of oil and gas, power and finance-banking.


In the banking sector, the list of the businesses that pay monthly salary of over VND18 million ($900) includes the Industrial and Commercial Bank of Vietnam (Vietinbank), Bank for Foreign Trade of Vietnam (Vietcombank) and Military Bank (MBBank).

According to a report of Vietinbank, it currently has 19,671 employees, down by 169 employees from late 2012. In the first three months of 2013, its staff received average salaries and allowances of VND21.01 million ($1,000) per month, compared to VND21.13 million per month in late 2012 and VND22.4 million in the same period of 2012.

In 2011, Vietinbank was the bank that paid highest salary and allowances to employees, with VND20.27 million/month on average. In 2012, on average, its employees received VND18.9 million per month.

Ranking behind Vietinbank is Vietcombank, with over VND19 million per month in the first quarter of 2013, down by 10 percent over last year.

In the top three equitized banks with the largest property in 2012, the staff of MBBank earned the highest income among the group of non-state banks with VND18 million per month.

In the telecommunications sector, the Military Telecom Corporation (Viettel) passed the Vietnam Posts and Telecommunications Group (VNPT) with huge profit last year - VND27 trillion in 2012. With high revenues, great profits, Viettel also pays the highest salaries among military businesses.

Mr. Le Dang Dung, deputy general director of Viettel, said the group has 25,000 employees and their average income is about VND18 million per month, compared to VND10 million per month at FPT and VNPT. The average income of a chief engineer with 5 years of experience at the Viettel Research and Development Institute is approximately VND32 million per month.

Dung also said that the group pays very high salary to its CEO and experts. Excellent experts, both Vietnamese and foreigners, can be paid as high as the CEO, without having high positions or doing management job.

Although Dung refused to disclose the highest wages for its officials and experts, a source said that some experts at Viettel are paid several hundreds of million dong per month.

Reportedly, Viettel has asked the government’s permission for applying a specialized payroll based on business results.

Another military business - Saigon Newport Company (SNP) – also pays average salary for its employees at VND18 million per month. Particularly in 2012, the SNP’s staff received 17 months of salary, or over VND300 million/person/year. This business is operating in the fields of port and logistics.

In the oil and gas sector, the National Oil and Gas Group (PetroVietnam) also pays wages of over VND15 million/month for its employees.

For business leaders, the Hoang Anh Gia Lai (HAGL) JSC paid about VND1.6 billion of rewards for its officials, including members of the Board of Directors and the Supervisory Board. The salary for HAGL Chairman DoanNguyen Duc is VND240 million/month or VND2.88 billion per year. Doan Nguyen Duc said he was satisfied with the salary, but this is only symbolic income.

Since 2007, the REE Corporation has paid about VNd100 million/month, equivalent to VND1.2 billion/year to the President and CEO Nguyen Thi Mai Thanh. In addition, every year, Mai Thanh and executive committee members also receive rewards based on REE’s excess of profit plan. Last year, these officials received nearly VND20 billion or rewards, more than four times over 2011.

At the Phu Nhuan Jewelry JSC (PNJ), in 2011, the salary and benefits of CEO Cao Thi Ngoc Dung was VND111 million/month. She also received a bonus equivalent to 2.5 months of salary. Total income of Dung was nearly VND1.6 billion in 2011 for the CEO position. In addition, she was paid VND10 million/month for the position of PNJ Chairman. In total, she earned VND1.7 billion in 2011.

The pay for the Board of Directors of the PetroVietnam Construction and Installation Corporation (PVC) in 2012 was over VND3 billion, for the Supervisory Board VND1.8 billion, down by VND800 million and VND600 million compared with 2011, respectively. Notably, in 2012, PVC got losses of VND1.847 trillion and earned profit of more than VND97 billion in 2011.

The Vietnam Petroleum Import-Export Corporation (Petrolimex) also paid high salaries for its executives, although in 2012, the group suffered heavy losses. According to the State Audit Agency, in 2012, the group incurred losses of VND1.671 trillion but its Deputy General Director was still paid VND40 million/month while the Chairman received over VND50 million/month.

The salary of two leaders of the two food corporation - Vinafood 1 and Vinafood 2 is also very high, with VND56.5 and VND79.75 million per month, respectively.

$1 = VND20,700

Kien Thuc


VN central bank shifts up interest rates to combat US Fed adjustments

After the State Bank of Vietnam implemented the new operational interest rate on September 23, all joint-stock commercial banks, with the exception of state-owned ones, have adjusted the deposit interest rate for most terms.

HCM City targets international cruise tourists

Ho Chi Minh City has great potential to attract international cruise tourists as part of an effort to speed up tourism recovery post-pandemic, experts said.

Waste criteria lacking for nation’s IPs

Vietnam’s industrial parks are in the process of transitioning to more ecological models, but are struggling due to a lack of regulations on reusing treated waste and wastewater.

Vietnam experiences solid rise in production

The Vietnamese manufacturing sector rose solidly inside growth territory at the end of the third quarter of the year.

VN-Index bounces back from two-year low

The benchmark VN-Index on Wednesday regained the 1,100-point landmark after falling to a two-year low, but low liquidity may threaten the market recovery in the next sessions.

Sexual-assault victims choose to remain silent amid backlash on social media

Many travelers have told VietNamNet that they had been victims of sexual assault but later decided not to report their cases for fear of being ridiculed and blamed.

'South Korean street’ in HCM City deserted as business people leave

Amid business decline, some South Korean businessmen have gone bankrupt or shut down their business and left for their home country. It’s unclear if they will come back.

Foreign tech firms scale up operations in Vietnam

Molex, the world’s leading electronic component and connection device manufacturer, has announced a plan to expand its production facility in Hanoi with a total production area of 16,000 sq m.

Vietnam’s veggie, fruit imports from China surge

Vietnam spent some US$473 million importing vegetables and fruits from China between January and August, surging by 74% year-on-year and accounting for 38% of the country’s total veggie and fruit imports.

Legal move towards fair competition in pay TV market

A new decree on the use and management of broadcasting services aims to create an impartial playground between domestic and foreign pay TV service providers.

79 villas to be pulled down in Phu Quoc for construction violations

Authorities in Phu Quoc Island in the southern Kien Giang Province are removing 79 villas that were illegally built in Duong To Commune.

Vietnam needs large domestic shipping lines

The lack of domestic shipping firms has caused difficulties for export companies.

VN seeks ways to increase export of organic farm produce

The organic food market was expected to reach $437.36 billion by 2026 with a compounded annual growth rate of 14 per cent.

Twins survive after premature birth, weighing just 500g

The National Hospital of Obstetrics and Gynecology has for the first time successfully bred twins who were born at 25 weeks, each weighing just 500g.

Hanoi to spend $5.3 million to inspect old apartments

Hanoi plans to spend about VND128 billion (US$5.3 million) to appraise the quality of old apartments across the city this year.