On November 10th, the Government issued Decree 293, which stipulates the minimum wage for employees working under labor contracts, replacing Decree 74/2024.
Minimum Wage Increases by VND 250,000 – 350,000 per Month
According to the Decree, the monthly minimum wage in the four regions is as follows (in VND/month):
Monthly and hourly minimum wage rates for employees (Image: VGP).
Thus, the above minimum wage rates increase by VND 250,000 – 350,000 per month (an average increase of 7.2%) compared to the current minimum wage.
Application of Minimum Wage
The Decree stipulates: The monthly minimum wage is the lowest wage used as a basis for agreeing upon and paying wages to employees on a monthly basis, ensuring that the wage according to the job or position of an employee working full-time hours in a month and completing the agreed labor norms or tasks is not lower than the monthly minimum wage.
The hourly minimum wage is the lowest wage used as a basis for agreeing upon and paying wages to employees on an hourly basis, ensuring that the wage according to the job or position of an employee working one hour and completing the agreed labor norms or tasks is not lower than the hourly minimum wage.
For employees paid on a weekly, daily, piece-rate, or contract basis, the wage for these payment methods, when converted to a monthly or hourly rate, must not be lower than the monthly or hourly minimum wage.
The wage conversion to a monthly or hourly rate is based on the normal working hours chosen by the employer in accordance with labor laws as follows:
The monthly wage conversion is calculated by multiplying the weekly wage by 52 weeks and dividing by 12 months, or by multiplying the daily wage by the number of normal working days in a month, or by the piece-rate or contract wage earned during normal working hours in a month.
The hourly wage conversion is calculated by dividing the weekly or daily wage by the number of normal working hours in a week or day, or by dividing the piece-rate or contract wage by the number of hours worked during normal working hours to produce the product or complete the contracted task.
This Decree takes effect from January 1, 2026.
Crafting Happiness Through Banking: From Trust and Sharing to Sustainable Growth
According to experts, the happiness of Vietnamese people today stems not only from income but also from trust, shared values, and a sense of security—values that businesses can nurture in their growth journey.
Where is the Money Flowing as Real Estate Prices Surge?
Capital flows are noticeably shifting away from the outskirts of Hanoi and Ho Chi Minh City, as apartment prices in the central areas of these two cities remain high and continue to surge.
FTSE Russell Unveils 28 Vietnamese Stocks Targeted for Inclusion Upon Vietnam’s Upgrade
FTSE Russell has announced its plan to upgrade Vietnam’s stock market from “Frontier Market” to “Secondary Emerging Market” within the FTSE Global Equity Index Series (GEIS). This reclassification is expected to take effect during the September 2026 semi-annual review.
Vietnam’s Economic Shift: From Land Hoarding to Value Creation, Satellite Cities Emerging as New Growth Hubs
Troy Griffiths, Deputy Managing Director of Savills Vietnam, asserts that infrastructure will be the most critical growth driver over the next decade. As rapid urbanization continues, satellite cities are poised to emerge as the new hubs of real estate development.
Mitsubishi Destinator Arrives in Vietnam: Two Distinct Variants with ADAS Features Set to Make a Splash Next Month
The first commercial Mitsubishi Destinator models, featuring various versions, have arrived in Vietnam, imported from Indonesia, in preparation for their official launch scheduled for early December.
