The Ministry of Labor, Invalids and Social Affairs has officially put forward a request to the government for a 6 percent hike in the minimum wage from July 1 this year. This will mean increases of between VND 200,000 to VND 280,000 or between US$7.86 and US$11 a month.
This will be welcome news for Vietnam’s minimum wage workers with no minimum wage hike last year despite inflation floating around 4 percent.
The Vietnam General Confederation of Labor had been pushing for between 6.48 percent and 7.3 percent with the Vietnam Chamber of Commerce and Industry, a peak business representative body, pushing for between 4.5 and 5 percent. Vietnam’s National Wage Council, which makes recommendations to the ministry, looks to have essentially split the difference.
Of note, average wages in Vietnam in key foreign invested sectors, like manufacturing and processing, generally tend run at almost double the minimum wage.
See also: Minimum Wage in Vietnam 2024: Your Questions Answered