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Proposal on minimum wage to be submitted for Government approval

After two negotiation sessions, the National Salary Council on December 20 reached a consensus to finalise the proposal to increase the regional minimum wage by 6% starting from July 1, 2024, to submit for Government for approval.
Proposal on minimum wage to be submitted for Government approval ảnh 1Illustrative image (Photo: VNA) 
Hanoi (VNA) – After two negotiation sessions, the NationalSalary Council on December 20 reacheda consensus to finalise the proposal to increase the regional minimum wage by 6% starting from July 1, 2024, to submit for Government for approval.

In the meeting on thesame day morning, representatives from union organisations proposed an increaseof between 6.5 - 7.3%, while those from employers suggested maintaining an increasebetween 4 - 5%.

Proposal on minimum wage to be submitted for Government approval ảnh 2Participants at the meeting (Photo: VNA) 
If the proposal isapproved, the minimum wage for Regions I, II, III and IV will respectively rise by280,000 VND (nearly 11.5 USD), 250,000 VND, 220,000 VND, and 200,000 VND to 4.96million VND, 4.41 million VND, 3.86 million VND, and 3.45 millionVND.

The hourly minimum wage will also increase by 6% starting from the same date, with the highestincrease level for Region I at 23,800 VND per hour.

Regionally-based monthly minimum wages vary between four different regions based on four separatebenchmarks determined by living standards in each area.

Region 1 covers urban Hanoi and HCM City;Region 2 covers rural Hanoi and HCM City along with Can Tho, Da Nang and HaiPhong cities; Region 3 applies to cities and districts of Bac Ninh, Bac Giang,Hai Duong, and Vinh Phuc provinces; and Region 4 encompasses the remaininglocalities./.
VNA

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