Tuesday, October 14, 2008

Minimum wages go up for corporate employees

Wages Workers at domestic and foreign-invested enterprises will see their monthly minimum wages go up by 15 to 29 percent from January 1, 2009.

A new government decree fixes the new minimum salaries at VND800,000 (US$48.2) and VND1.2 million ($72.3) for domestic and foreign-invested enterprises respectively, in Hanoi's urban districts and Ho Chi Minh City.

The increase was announced at a press briefing in Hanoi Monday by Pham Minh Huan, head of the Labor and Salary Department under the Ministry of Labor, War Invalids and Social Affairs.

The monthly rates of VND740,000 ($44.6) and VND1.08 million ($65.1) will be applied in most rural districts in the cities of Hanoi, HCMC and Da Nang, Ha Long Town, and some major areas in northern Hai Phong City, in southern Can Tho City and the three southern provinces of Dong Nai, Binh Duong and Ba Ria-Vung Tau.

In some rural districts of Hanoi, and several areas in the provinces of Bac Ninh, Bac Giang, Hung Yen, Hai Duong, Vinh Phuc, Quang Ninh, Tay Ninh, Binh Duong, Dong Nai, Long An and Ba Ria-Vung Tau and in the cities of Hai Phong and Can Tho, and Da Lat and Nha Trang towns, the monthly rates will be VND690,000 ($41.6) and VND950,000 ($57.2).

Remaining localities across the country will have rates of VND650,000 ($39.2) and VND920,000 ($55.4).

The current minimum monthly salary of those working for domestic enterprises ranges from VND540,000-620,000 ($32.5-37.3), and that for foreign-invested firms from VND0.8-1 million ($48.2-60.2).

Huan said the salary hike would increase input costs of enterprises by 1.3-1.7 percent. The strength of the national workforce in enterprises nationwide is estimated at 9.7 million.

Reported by Ngan Anh

Source : Thanh Nien Daily

FREE BLOGGER TEMPLATES
All Blogger Templates are FREE - 3 and 4 columns with good design for Your Blogspot Blog.