Ha Minh Vi, the Permanent Vice Chairman of the Trade Union of Industrial Zones in Bac Giang province, has told reporters that he would like to see the minimum wage in Vietnam increase by 7 percent this year. This comes amid reports the Ministry of Labor, Invalids and Social Affairs is preparing to conduct a wages survey to use as a basis for discussing the next minimum wage adjustment.
Of note, minimum wage increases in Vietnam are generally approved one year and then implemented the next. The latest minimum wage hike was in July of 2024 in line with approval granted in 2023. In this context, it seems unlikely that the minimum wage will rise this year.
That said, inflation was up 3.63 percent in 2024 taking a significant bite out of said last wage increase. If it was to come in the same year, that would eat what is left of last year’s minimum wage increase and more. This may be an impetus for an increase sooner rather than later.
See also: Minimum Wage in Vietnam