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| The National Salary Council on December 20 reached a consensus to finalize the proposal to increase the regional minimum wage by 6 percent starting from July 1, 2024__Photo: VNA |
After two negotiation sessions, the National Salary Council on December 20 reached a consensus to finalize the proposal to increase the regional minimum wage by 6 percent starting from July 1, 2024, to submit for Government for approval.
In the meeting on the same day morning, representatives from union organizations proposed an increase of between 6.5 - 7.3 percent, while those from employers suggested maintaining an increase between 4 - 5 percent.
If the proposal is approved, the minimum wage for Regions I, II, III and IV will respectively rise by VND 280,000 (nearly USD 11.5), VND 250,000, VND 220,000, and VND 200,000 to VND 4.96 million, VND 4.41 million, VND 3.86 million, and VND 3.45 million.
The hourly minimum wage will also increase by 6 percent starting from the same date, with the highest increase level for Region I at VND 23,800 per hour.
Regionally-based monthly minimum wages vary between four different regions based on four separate benchmarks determined by living standards in each area.
Region 1 covers urban Hanoi and HCM City; Region 2 covers rural Hanoi and HCM City along with Can Tho, Da Nang and Hai Phong cities; Region 3 applies to cities and districts of Bac Ninh, Bac Giang, Hai Duong, and Vinh Phuc provinces; and Region 4 encompasses the remaining localities.- (VNA/VLLF)
