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Increase to minimum wage in Vietnam pushed back beyond January 2024

The National Wage Council has said it will not recommend increasing the minimum wage from the start of 2024, Tuoi Tre is reporting. Lai Van Tong, the Deputy Director of the Department of Labour Relations and Wages, at the Ministry of Labour, War Invalids and Social Affairs, says this is due to the ongoing economic downturn, particularly in the manufacturing sector. There is no clear timeline for a revision to the minimum wage, however, the council will meet again at the end of November.

Note: The last time the minimum wage was increased was in July of 2022. Inflation in 2022 hit 3.19 percent and is estimated to come in at somewhere between 3 and 4 percent in 2023.

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