Vietnam raises minimum wage 4th time in 4 years
Viet Nam News/Asia News Network
April 16, 2012, 12:04 am TWN
Another 220,000 dong (US$10) will be added to the monthly minimum wage from May 1 in Vietnam, according to a new government decree issued on Thursday.
Accordingly, the increase will be applied at all state agencies, people's armed forces, socio-political organizations and state-owned one-member limited companies.
It is the fourth increase of the minimum wage in the last four years: in 2009 it was 650,000 dong (US$31), in 2010 it was 730,000 dong (US$34) and from 2011 to May 2012 it will have been 830,000 dong (US$39).
Nguyen Minh Ngoc, a heath staff member at the Transport Hospital in Cau Giay District, is among the beneficiaries who will receive a minimum wage of slightly over 1 million dong (US$50) per month. She welcomes the increase, but worries that “whenever the wage increases, market prices also surge.”
On the same day, Nguyen Thi Lien Hoa, selling fish in Ngoc Ha Market, Ba Dinh District, says, “We haven't changed the price for our products yet. I want to sell my products at the most reasonable prices to attract more customers. If other sellers increase their prices, I will follow suit.”