Vietnam’s Ministry of Labour, Invalids, and Social Affairs has announced the largest-ever survey on labor and wages in enterprises for 2024, covering 3,400 businesses in 18 provinces and cities across eight economic regions. The survey aims to gather data for reviewing and adjusting the regional minimum wage for 2025.
The survey will be conducted in the following regions: Hong River Delta (including Hanoi, Haiphong, Haiduong, Bacninh, and Vinhphuc), Northeast (Quangninh), Northwest (Hoabinh), North Central (Thanhhoa and Nghean), South Central Coast (Danang and Khanhhoa), Central Highlands (Daklak), Southeast (Ho Chi Minh City, Dongnai, Binhduong, and Baaria-Vungtau), and Mekong River Delta (Long An and Can Tho).
Hanoi, with 700 businesses and 1,400 employees, and Ho Chi Minh City, with 800 businesses and 1,600 employees, are among the localities with the highest number of surveyed enterprises. Other localities with significant participation include Dong Nai with 200 businesses and 400 employees, and Bac Ninh, Thanh Hoa, Da Nang, and Binh Duong, each with 150 businesses and 300 employees.
This comprehensive survey will collect data on production, business operations, labor, and wages within the enterprises. The information will be used to adjust the minimum wage for 2025, in alignment with the activities of the National Wage Council. Additionally, it will support the management and periodic announcement of average wage levels in the labor market, providing a reference for enterprises and employees during wage negotiations.
The 2024 survey on labor and wages will adhere strictly to the approved methodology and scope, ensuring no overlap with other surveys. Confidentiality of information collected from enterprises and employees will be maintained as per regulations. The survey targets enterprises established and operating under the Enterprise Law, with a founding date before January 1, 2023, and active operations at the time of the survey.
These enterprises are categorized into three groups based on their labor force: 10 to under 100 employees, 100 to under 300 employees, and 300 employees or more. They also fall into three groups based on their business sectors: agriculture, forestry, and fishery; industry and construction; and trade and services. Employees with a minimum of one year of work experience are included in the survey.
The minimum wage is the lowest monthly or hourly wage that employers may legally pay to employees for their work. It is determined by the government, taking into account various factors such as the cost of living, average wages in the region, economic growth, and employment rates. The minimum wage varies across different regions of the country, with the current highest being in Region 1 and the lowest in Region 4.
The government decides and announces the minimum wage based on the recommendations of the National Wage Council. Recently, the government issued Decree No. 74/2024/ND-CP, increasing the minimum wage by 6% from July 1, 2024. This translates to a monthly increase of VND 200,000 to VND 280,000, depending on the region.
The new minimum wage for Region 1 is VND 4,960,000 per month, while Regions 2, 3, and 4 have minimum wages of VND 4,410,000, VND 3,860,000, and VND 3,450,000, respectively. The hourly minimum wage has also seen a corresponding increase of 6%, with Region 1 now at VND 23,800, Region 2 at VND 21,200, Region 3 at VND 18,600, and Region 4 at VND 16,600.
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