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Minimum salaries in enterprises to increase in early 2009
Monthly minimum salaries of employees in domestic enterprises will rise by between 110,000 and 180,000 VND while that in foreign-invested businesses will increase by between 120,000 and 200,000 VND as of January 1, 2009.
The adjustments were part of the 2008-2012 salary, social insurance and allowance reform plan, which aims to gradually reach a common minimum salary for all kinds of enterprises by 2012, Pham Minh Huan, Head of the Ministry of Labour, Invalids and Social Affairs (MoLISA)’s Wage Department said.
The minimum salaries were calculated to ensure workers’ living conditions based on various criteria such as the GDP growth and consumer price index (CPI) in the first nine months of this year, wage increases in the labour market, enterprises’ payment capacity as well as economic development conditions and labour markets in each region.
Employees in domestic businesses will enjoy monthly minimum salaries of 800,000 VND, 740,000 VND, 690,000VND or 650,000 VND, depending on the region they work in. The figures for those in FDI enterprises will be 1.2 million VND, 1.08 million VND, 950,000 VND and 920,000 VND respectively.
These minimum salaries are paid for low-qualified employees who fill out the least demanding posts under normal working conditions. Huan said, adding that for skilled workers, enterprises have to pay salaries that are 7 percent higher than the minimum levels.
The MoLISA official also assured that the upcoming salary adjustments would not have a great effect on enterprises’ input costs. Their expenses are estimated to increase only 1.3-1.7 percent when the decisions takes effect, he said.
VNA
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