Vietnam to raise base salary by 26.5% to vnd1.05mln in 2012

Vietnam will spend an estimated VND49.3 trillion to raise base salary to VND1.05 million in 2012, up 26.5% from current VND830,000.

The pay raise is applicable for retirement either the 2012 GDP growth target is set at 6% or 6.5%, but the specific effective time is not yet available.

Subsidiary for travelling on business will be raised 25% in case of 6.5% GDP growth rate and 15% in 6% scenario.

Vietnam will put top priority for human investment, ensure social security it said.

Vietnam admitted it still has problems in salary policy such as: paying salary does not based on productivity, contribution, job requirements, salary cannot serve as a catalyst for worker, and attract talented.

Source Ruby/ News Writer/ StoxPlus

Tags: Vietnam minimum salary

Posted by VBN on Oct 4 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry