 A review of the Government and Prime Minister’s directives and governance from July 1st to July 5th, 2024. |
Basic salary increase to 2.34 million VND per month from July 1st, 2024.
The government issued Decree No. 73/2024/ND-CP stipulating the basic salary level and bonus regime for officials, public employees, civil servants, and armed forces. Accordingly, from July 1st, 2024, the basic salary level is 2.34 million VND/month, replacing the current level of 1.8 million VND/month.
A 15% increase in retirement pensions and social insurance allowances from July 1st.
The government issued Decree No. 75/2024/ND-CP adjusting retirement pensions, social insurance allowances, and monthly allowances. The decree stipulates that from July 1st, 2024, there will be a 15% increase in retirement pensions, social insurance allowances, and monthly allowances compared to those in June 2024 for specified subjects.
From July 1st, 2024, employees working under contracts will be subject to new regional minimum wage standards.
The government issued Decree No. 74/2024/ND-CP stipulating the regional minimum wage for employees working under labor contracts, replacing Decree No. 38/2022/ND-CP dated June 12th, 2022, and taking effect from July 1st, 2024.
According to Decree 74/2024/ND-CP, the regional minimum wage levels from July 1st, 2024, will increase on average from 200,000 VND to 280,000 VND compared to the current minimum wage levels stipulated in Decree No. 38/2022/ND-CP. Specifically:
The minimum monthly wage levels in the four regions are as follows: Region I: increased by 280,000 VND, from 4,680,000 VND/month to 4,960,000 VND/month; Region II: increased by 250,000 VND, from 4,160,000 VND/month to 4,410,000 VND/month; Region III: increased by 220,000 VND, from 3,640,000 VND/month to 3,860,000 VND/month; Region IV: increased by 200,000 VND, from 3,250,000 VND/month to 3,450,000 VND/month.
The minimum hourly wage levels have also increased: Region I rose from 22,500 VND/hour to 23,800 VND/hour, Region II from 20,000 VND/hour to 21,200 VND/hour, Region III from 17,500 VND/hour to 18,600 VND/hour, and Region IV from 15,600 VND/hour to 16,600 VND/hour.
Social assistance standard raised to 500,000 VND per month.
The government issued Decree No. 76/2024/ND-CP dated July 1st, 2024, amending and supplementing a number of articles of Decree No. 20/2021/ND-CP dated March 15th, 2021, on social assistance policies for socially disadvantaged subjects.
Decree No. 76/2024/ND-CP amends and supplements Clause 2 and 3 of Article 4, stipulating the new social assistance standard. According to the new regulation, the social assistance standard applied from July 1st, 2024, is 500,000 VND/month, an increase of 140,000 VND/month compared to the regulation in Decree No. 20/2021/ND-CP (360,000 VND/month).
Increase in preferential allowance standard for people with meritorious services.
The government issued Decree No. 77/2024/ND-CP amending and supplementing a number of articles of Decree No. 75/2021/ND-CP stipulating the allowance levels, allowances, and preferential regimes for people with meritorious services to the revolution, which had been previously amended and supplemented in Decree No. 55/2023/ND-CP.
Decree No. 77/2024/ND-CP amends the allowance standard for people with meritorious services to the revolution. Accordingly, the allowance standard will increase from 2,055,000 VND to 2,789,000 VND.
Procedures for registering the valuation profession will take effect from July 1st, 2024.
The government issued Decree No. 78/2024/ND-CP detailing a number of articles of the Price Law on valuation. This decree takes effect from July 1st, 2024.
Decree 78/2024/ND-CP details Articles 45, 49, and 54 of the Price Law on the dossier, order, and procedures for registering the valuation profession; the dossier, order, and procedures for granting and re-granting the Certificate of Qualification for Valuation Business; and the suspension of valuation business and revocation of the Certificate of Qualification for Valuation Business.
Supplementary regulations on salary management for limited liability companies with 100% capital held by Viettel.
The government issued Decree No. 79/2024/ND-CP amending and supplementing a number of articles of Decree No. 121/2016/ND-CP dated August 24th, 2016, which was previously amended and supplemented by Decree No. 74/2020/ND-CP dated July 1st, 2020, and Decree No. 82/2021/ND-CP dated September 6th, 2021, on the pilot implementation of labor and salary management for the Military Telecommunications Industry Corporation.
Regarding salary management for limited liability companies with 100% capital held by the Military Telecommunications Industry Corporation, the decree supplements the following regulation: In the event that the company incurs losses, the actual average salary used to calculate the salary fund shall be equal to the average salary specified in the labor contract for employees working under labor contracts, the salary level according to ranks and grades for officers, professional soldiers, civilian employees, and defense employees, and the salary for holidays, Lunar New Year holidays, paid leave, night shifts, and overtime work as stipulated by the Labor Code…
The government issued a decree on the mechanism for direct electricity sale.
The government issued Decree No. 80/2024/ND-CP dated July 3rd, 2024, on the mechanism for direct electricity sale between renewable energy generation units and large power consumers. This decree stipulates that direct electricity sale can be carried out in two forms: direct sale through a dedicated connection line and direct sale through the national power grid.
Conditions for approving credit extensions beyond the limit.
Deputy Prime Minister Le Minh Khai signed Decision No. 9/2024/QD-TTg on the conditions, dossiers, and procedures for proposing the approval of maximum credit extensions beyond the limit of credit institutions and foreign bank branches.
The decision states that one of the conditions for customers borrowing capital, projects, and plans to be considered for credit extensions beyond the limit is that the customer must meet the credit granting conditions stipulated by law, have no bad debts at credit institutions in the last three years before the time of the request for credit extension beyond the limit, and have a debt repayment capacity coefficient recorded in the customer’s financial statements at the time closest to the time of the request for credit extension beyond the limit of no more than three times…
Planning for the system of fishing ports and storm shelters for fishing vessels until 2030
Deputy Prime Minister Tran Luu Quang signed Decision No. 582/QD-TTg dated July 3rd, 2024, approving the Planning for the System of Fishing Ports and Storm Shelters for Fishing Vessels for the period of 2021 – 2030, with a vision towards 2050.
The general objective by 2030 is to modernize the infrastructure of the fisheries sector, meet the needs of fishery logistics services, ensure food safety and hygiene, reduce post-harvest losses, ensure the safety of fishing vessels and fishermen, promote socio-economic development, improve the management of fisheries, and enhance international integration…
By 2050, Dong Nai province aims to become a centrally-governed city
Deputy Prime Minister Tran Hong Ha signed Decision No. 586/QD-TTg dated July 3rd, 2024, approving the Planning of Dong Nai province for the period of 2021-2030, with a vision towards 2050.
By 2050, Dong Nai province aims to become a centrally-governed city, taking the lead in the development of high-tech industries, with a synchronous, intelligent, and modern infrastructure system; an international trade, tourism, and service center associated with world-class urban areas, a gathering place for intellectuals and talents, with a green and circular economy as the focus, and achieving net-zero emissions…
Plan for the implementation of Can Tho city planning for the period of 2021-2030
Deputy Prime Minister Tran Hong Ha signed Decision No. 589/QD-TTg dated July 3rd, 2024, issuing the Plan for the Implementation of Can Tho City Planning for the period of 2021 – 2030, with a vision towards 2050 (the Plan).
The Plan was issued to effectively implement the Prime Minister’s Decision No. 1519/QD-TTg dated December 2nd, 2023, on the approval of Can Tho City Planning for the period of 2021 – 2030, with a vision towards 2050. In addition, it establishes a roadmap for the organization and implementation of programs and projects to achieve the goals, tasks, and solutions set out in the approved Can Tho City Planning…
Proposal for the Development of Livestock Housing Industry and Treatment of Livestock Waste by 2030
Deputy Prime Minister Tran Luu Quang signed Decision No. 587/QD-TTg approving the Proposal “Development of Livestock Housing Industry and Treatment of Livestock Waste by 2030”.
The overall goal of the Proposal is to modernize equipment and technology in livestock housing to meet the requirements of biosecurity, disease prevention, environmental friendliness, and humane treatment of animals; improve the capacity for waste management and treatment to protect the environment, and effectively utilize livestock waste for various purposes.
An HR member of the Big4 team with higher salary and bonus than the Chairman and CEO
Vietcombank, the Joint Stock Commercial Bank for Foreign Trade of Vietnam, has recently released its financial report for the fourth quarter of 2023. In this report, the bank has disclosed the figures for the salaries, wages, and bonuses of the executives within the Board of Directors and the Executive Board.
Bank Bonus 2024: 4-Month Salary Surprise, Where…0 VND
Amidst the declining business results of many banks in 2023, the Tet bonus for employees has also significantly decreased. In fact, some branches do not have any Tet bonus or only give symbolic bonuses to their employees.
Official Government Announces Minimum Wage Increase from 1/7
The National Wage Council has recently made an official recommendation to the Government to consider adjusting the minimum wage for regions in 2024, starting from July 1st.
Viettel AI App Gifts for Customers
Viettel continues to surprise by applying artificial intelligence (AI) to product design, services, and customer experience activities. And now, they have integrated this innovative technology into their Tet gift giveaway program, with customers being able to participate by texting KM to 191.
