The proposed increase is 6%, equivalent to an increase of 200,000 – 280,000 VND. Specifically, the salary for region 1 is increased to 4.96 million VND; region 2 is 4.41 million VND; region 3 is 3.86 million VND; and region 4 reaches 3.45 million VND. The salaries in the regions range from 3.25 to 4.68 million VND.
The minimum hourly wage also increases by 6% from mid-2024. Specifically, region 1 increases to 23,800 VND; region 2 increases to 21,200 VND; region 3 is 18,600 VND; and region 4 is 16,600 VND.
Prior to mid-2023, the National Wage Council convened to discuss the minimum wage adjustment for 2024. However, at this time, the council has not been able to fully assess the impacts and forecast the future economic and social situation.
The council also acknowledges that the current timing does not sufficiently provide scientific and practical grounds for proposing adjustment plans and the timing of the minimum wage adjustment in 2024.
The National Wage Council finalizes the 6% increase in the regional minimum wage from July 1.
The second session of the National Wage Council resumed on December 20, four months after the first negotiation.
The Vietnam General Confederation of Labor proposed two increases of 6.48% or 7.3% from July 1, 2024, along with the reform of state sector wages. The increase is based on the bright economic outlook and an increase in business orders.
Meanwhile, the Vietnam Chamber of Commerce and Industry (VCCI) proposed a 4.5-5% increase. After negotiations, all 16 members of the Council unanimously voted to propose the Government adjust the minimum wage by an additional 6%, increasing by 200,000-280,000 VND depending on the region.
Deputy Minister of Labor, War Invalids and Social Affairs Le Van Thanh – Chairman of the National Wage Council assessed that a 6% increase is a harmonious increase, sharing the difficulties of both workers and employers.
The proposed increase will take effect on July 1, in line with the Party’s policy on the timing of implementing state sector wage reform, ensuring time for businesses to prepare plans and resources for implementation.
