Vietnam’s regional minimum wage poised to increase 5.3% in 2019
The proposed increase in the regional minimum wage wil be submitted to the Vietnamese government for approval.
The National Wage Council held its third meeting on August 13 and agreed to to submit a proposal to the Vietnamese government to increase the regional minimum wage in 2019 by 5.3%, local media reported.
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Deputy Minister of Labour, War Invalids, and Social Affairs cum President of the National Wage Council Doan Mau Diep said that the Vietnamese government aims to create opportunities to negotiate for parties to narrow the gap in their proposals.
Diep said that before the 5.3% plan was completed, the Vietnam General Confederation of Labor, which represents employees, suggested the minimum increase should be 6.1%, equal to an increase of 2018. Meanwhile, on behalf of employers, the Vietnam Chamber of Commerce and Industry (VCCI) proposed a maximum increase of 5.1%.
Diep added that he was pleased with the 5.3% increase in 2019, which can be acceptable by both employees and employers
Vice Chairman of VCCI Hoang Quang Phong said that they had expected a 5.1% increase, but as the National Wage Council decided, they agreed to the increase of 5.3%. Businesses will have to strive to meet the requirements.
According to a survey by the Vietnam General Confederation of Labor, the employees’ minimum expenditure is VND6.5 million (US$279.5) per month, while the basic salary they receive is VND4.6 million (US$197.8). Therefore, workers have to work 28 extra hours to receive an additional VND800,000 (US$ 34.4) per month.
The survey also showed 17% of the workers said that they can save some money; 43% just can have ends met; 26% must spend their salary in a frugal and miserable way; while 12% said they could not live on and have to work overtime.
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