The basic salary of Vietnamese workers may increase by more than %
According to Pham Minh Huan, deputy director of the Ministry of Labor of Vietnam, the technical organization of Vietnam’s National Wage Committee requires the Vietnam Chamber of Commerce and Industry (VCCI-representing employers) and the Vietnam General Union of Labor (representing workers) to negotiate to deliver instructions. (2017) The final draft for adjusting the basic salary in labor areas. At the same time, the group also proposed a preliminary plan for adjusting the basic salary in labor areas to the National Wage Committee in 2017.
According to the opinions of many labor experts in Vietnam, the Vietnamese government may increase the basic salary in labor-applicable areas by more than 10% next year, which is lower than the increase this year (approximately 12.4%) in 2016. According to estimates by the National Wage Commission of Vietnam last year (2015), the current basic salary for labor areas in Vietnam is less than 15% to 20% of what workers need to meet their daily living standards. Therefore, the government should maintain more than 10% of the basic salary for workers every year. The amount will be adjusted so that the basic salary in 2018 can reach the daily living standards of workers.
There are currently about 54 million workers in Vietnam, of which employed workers (i.e. workers who have labor relations) account for 41%. The government announces an increase in regional basic wages every year, which only benefits employed workers. In addition, the regional basic salary will be increased. In addition to increasing the employer’s production cost burden, the employer must also allocate additional funds to pay labor social insurance premiums and union fees based on the increase in the basic salary. This will increase manufacturers’ labor costs and reduce market competitiveness, and will also affect manufacturers. Willingness to invest in increasing production capacity.
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