What is the average salary at companies?

The Ministry of Labor, Invalids and Social Affairs requires units under the Ministry and localities to review and understand the production and business situation of enterprises, labor recruitment needs, especially FDI enterprises, and labor-intensive industries (textiles, footwear, wood production...) immediately after Tet holiday in order to come up with a plan to connect labor supply and demand.

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According to representatives of the Ministry of Labor, Invalids and Social Affairs, the average salary in 2023 in enterprises is expected to reach 8.5 million VND/month, an increase of 3% compared to 2022 (8.25 million VND/month).

Workers in the textile and garment industry. Photo: XC

Specifically, the salary at the 100% state-owned limited liability company is 9.94 million VND/month; privately owned businesses is 8 million VND/month; and businesses with foreign investments is 9.27 million VND/month.

Regarding the Lunar New Year bonus, 47,625 enterprises awarded the bonus to 1.877 million workers in 2024; the average bonus is 1.85 million VND/person, an increase of 49% compared to the Lunar New Year bonus in 2023 (1.24 million VND/person). The highest bonus in 2024 is 376.3 million VND/person for high-level management positions in foreign-invested enterprises in Vinh Phuc province. Some other areas with high bonuses are concentrated in foreign-invested enterprises such as: 220 million VND/person in Tra Vinh, 307.7 million VND/person in Ba Ria – Vung Tau, and 192 million VND/person in Hung Yen…

Regarding the Tet bonus, 47,625 enterprises reported their plan to award Tet bonuses for the Year of the Horse 2024 to 3.33 million workers; the average bonus is 6.85 million VND/person, equivalent to the Tet bonus for the Year of the Cat 2023. The highest bonus in 2024 is 5.68 billion VND/person for high-level management positions in foreign-invested enterprises in Long An province. Some other areas with high bonuses are concentrated in foreign-invested enterprises such as: 1 billion VND/person in Dong Nai, 636.2 million VND/person in Quang Nam, and 528.43 million VND/person in Ba Ria – Vung Tau…

According to representatives of the Ministry of Labor, Invalids and Social Affairs, in 2024, the economy will continue to face many challenges and disadvantages due to instability and risks caused by ongoing military conflicts around the world. However, exports are expected to recover strongly in the near future, as world market demand increases. Domestic demand is also recovering, and public and private investment is expected to bounce back. Wage reform in 2024 will also create strong purchasing power, contributing to economic growth. The labor market will recover.

Challenges in labor and employment are intertwined with challenges in social security. Therefore, the Ministry of Labor, Invalids and Social Affairs requires units and localities to focus, prioritize, and resolutely implement the following major tasks and key solutions: Concentrate on implementing the Ministry’s Action Plan (Decision No. 90/QD-LDTBXH), implement Resolutions No. 01/NQ-CP and No. 02/NQ-CP dated January 5, 2023 by the Government on tasks, key solutions to implement the socio-economic development plan, state budget estimate, and business environment improvement, enhance national competitiveness in 2023; Directive of the Prime Minister urging the implementation of tasks after the Lunar New Year 2024.

Units should focus on refining the system, building and organizing the enforcement of labor, meritorious, and social security laws to ensure efficiency, effectiveness, and contribute positively to the improvement of the general system, making positive contributions to the country’s socio-economic development. The Ministry urgently proposes to the Government to issue the Action Program to implement Resolution No. 42-NQ/TW dated November 24, 2023 of the Party Central Committee, 13th term on continuing to renovate and improve the quality of social policies to meet the requirements of the cause of building and defending the Fatherland in the new period; complete and submit to the National Assembly for comments on the Law on Social Insurance (revision, June 2024) and the draft Law on Employment (revision, October 2024).

Units and localities should closely monitor labor market developments, implement solutions to attract laborers back to work, maintain labor supply chains; avoid local labor shortages; ensure the maintenance of harmonious, stable labor relations, and avoid local labor shortages; Review and understand the production and business situation of enterprises, labor recruitment needs, especially FDI enterprises, labor-intensive industries (textiles, footwear, wood production, etc.) right after the Tet holiday to have plans for labor supply-demand connection, connecting laborers with labor demand; increase the frequency of organizing job fairs, prioritize online job fairs, assist laborers in participating in job transactions.

Promote sustainable job creation and effective use of labor force through programs, projects, credit policies to support job creation, labor market participation, especially focusing on special labor groups, vulnerable workers.

Intensify career guidance solutions, career segmentation, vocational training enrollment; focus on retraining, supplementary training, on-the-job training, in industrial parks, production and business facilities, train a high-quality, high-skilled labor force to meet the increasing demands of enterprises.

Units and localities should fully and timely implement social security policies as prescribed, focus on reviewing and understanding the living conditions of policy beneficiaries, people in difficult circumstances, poor households, near-poor households, fellow countrymen in localities affected by natural disasters, epidemics, deep-lying, remote areas… to visit, care for, and timely support or propose granting competent authorities to support and ensure stable living conditions.

Review, improve the guidance documents, and focus on directing the acceleration of the implementation of the 2024 national target program for sustainable poverty reduction; implement the implementation of Resolution No. 108/2023/QH15 and Resolution No. 111/2024/QH15 of the National Assembly on certain mechanisms and policies to overcome difficulties, accelerate the implementation of national target programs. Launch and implement a nationwide movement to join hands in eradicating temporary and dilapidated houses; strive in the 2024-2025 period to fundamentally solve the problem of eradicating temporary and dilapidated houses of the people, especially in deep-lying, remote areas.

Focus on disbursement of capital to implement programs, projects in 2024, ensuring progress, quality. Have strong, resolute, and early solutions to overcome existing limitations, constraints to expedite the disbursement of investment capital from the beginning of 2024. Update the implementation progress, disbursement on a monthly basis to report to the Ministry the existing limitations, difficulties in the disbursement of investment capital and propose remedial measures.