Key Points
- Vietnam introduced new regional minimum wages on July 1, 2024
Overview
The government of Vietnam introduced new regional minimum wages on July 1, 2024. The regional minimum wage increased by six percent from VND200,000 to VND280,000 monthly.
Specifically, the regional minimum wage for Regions I, II, III, and IV shall rise by VND280,000, VND250,000, VND220,000, and VND200,000 VND to VND4.96 million, VND4.41 million, VND 3.86 million, and VND 3.45 million, respectively.
This adjustment in Vietnam’s regional minimum wages reflects the government’s commitment to improving workers’ living standards nationwide. By increasing wages by six percent, Vietnam aims to address the rising cost of living and ensure fair compensation for labor in Regions I, II, III, and IV. These new wage levels—VND4.96 million for Region I, VND4.41 million for Region II, VND3.86 million for Region III, and VND3.45 million for Region IV—highlight the government’s focus on regional economic disparities, aiming to balance wage standards in line with local economic conditions. Employers and employees alike must be aware of these changes to ensure compliance with the new regulations and to support fair labor practices in Vietnam.
Looking Ahead
Continue to check the government of Vietnam’s website for the latest updates and information.
Written by: Jessie Butchley, Global Immigration Writer, Envoy Global
Source: Socialist Republic of Vietnam
