In 2024, the Ministry of Labor, War Invalids and Social Affairs (now the Ministry of Home Affairs) issued a Decision on the survey in 2024 on labor and wages in enterprises.
The survey was conducted at 3,400 enterprises with 6,800 employees working in these enterprises.
The survey was conducted in 18 provinces and cities, representing 8 economic regions of the country. The two localities with the most surveyed enterprises are Hanoi and Ho Chi Minh City.
The survey results will serve the management work, announcing the average salary in the labor market for businesses and employees to refer to as a basis for salary negotiation.
Every year, the National Wage Council meets to advise the Government to adjust the regional minimum wage appropriately, to ensure the minimum living standard of workers.
Most recently, the National Wage Council advised the Government to issue Decree No. 74/2024/ND-CP. Accordingly, from July 1, 2024, the regional minimum wage will increase by an average of 6% compared to 2023. According to this Decree, the regional minimum wage that has been applied since July 1, 2024 is region I with 4.96 million VND/month; region II is 4.41 million VND/month; region III is 3.86 million VND/month; region IV is 3.45 million VND/month.
According to statistics from the labor management agency, for nearly 10 years (2016 - 2024), the regional minimum wage has been periodically adjusted with an average growth rate of 5.96%/year. The average salary of employees receiving a salary increase is 6.57%/year.
