How Much Is Minimum Wage In Vietnam, Reasons Why To Invest In Vietnam

The hike which is the lowest compared to previous years will increase the minimum wage in the four regions by us7 9 per month.

Legalization of marijuana fox news. Median salary the median salary is 16200000 vnd per month which means that half 50 of the population are earning less than 16200000 vnd while the other half are earning more than. Minimum wages in vietnam increased to 4420 vnd thousandmonth in 2020 from 4180 vnd thousandmonth in 2019. And now the minimum wages are set to rise by approximately 57 as from january 2020 as shown below.

There are 100 countries with a higher minimum wage then vietnam and vietnam is in the bottom percent of all countries based on the yearly minimum wage rate. 4420000 region ii. In 2019 all parties agreed to increase the minimum wages by an average of 53 from the previous years values.

Vietnam has set four different minimum wage levels for four different regions to reflect each areas cost of living. Minimum wages in vietnam to increase from january 2013. Managing payroll in vietnam.

Vietnam issues new decrees to guide labor code. National wage council established in vietnam minimum wage rises. This page provides vietnam minimum wages actual values historical data forecast chart.

8590 won 75 usd or 86 ppp per hour is the nominal minimum wage in south korea although the real effective comparable minimum wage is higher at 10020 won 9 usd or 10 ppp per hour due to a mandatory weekly paid holiday for people that work more than 15 hours per week a law that is absent in other developed countries. Valid on november 2020. Vietnam issues new labor outsourcing regulations.

The lowest minimum salary is of 3070000 vnd per month or approximately 132 usd. Facts and statistics about vietnam. Region i minimum wage with effect from january 1 2020 minimum wage with effect till december 31 2020 minimum wages last checked 122319.

Minimum wage vietnam. The government in vietnam released decree no. 902019ndcp announcing that in 2020 the monthly minimum wage in vietnam will increase by approximately 57.

More information is available on vietnam briefing. This new payroll regulation in vietnam will become effective on january 1 2020. Salaries in vietnam range from 4360000 vnd per month minimum salary to 76900000 vnd per month maximum average salary actual maximum is higher.

The minimum salary figures can often found themselves distorted from the economic reality of the country. The amounts are in vietnamese dong. Aseans rising minimum wage levels.

In 2018 the increase was 65 percent while in 2017 the minimum wage was hiked by 73 percent. Minimum wages in vietnam averaged 269769 vnd thousandmonth from 2008 until 2020 reaching an all time high of 4420 vnd thousandmonth in 2020 and a record low of 1000 vnd thousandmonth in 2008. Vietnam is a country located in the southeast asia region with a population of 79832000 and an average life span of 693 years.