INCREASE THE REGIONAL MINIMUM WAGE FROM JULY 1, 2024
Legal bases
- Decree 38/2022/ND-CP
- Draft Employment Law
-
The current regional minimum wage
| Region | Monthly minimum wage (Unit: VND/month) | Minimum hourly wage
(Unit: VND/hour) |
| Region I | 4.680.000 | 22.500 |
| Region II | 4.160.000 | 20.000 |
| Region III | 3.640.000 | 17.500 |
| Region IV | 3.250.000 | 15.600 |
-
From 01/7/2024, it is expected to increase the regional minimum wage
| Region | Monthly minimum wage
(Unit: VND/month) |
Minimum hourly wage
(Unit: VND/hour) |
| Region I | 4.960.000 | 23.800 |
| Region II | 4.410.000 | 21.200 |
| Region III | 3.860.000 | 18.600 |
| Region IV | 3.450.000 | 16.600 |
The adjustment of the new regional minimum wage from July 1, 2024, is as follows:
- The lowest increase is 200,000 VND/month, corresponding to the increase in Region IV.
- The highest increase is 280,000 VND/month, corresponding to the increase in Region I.
- The minimum wage increase in Region II is 250,000 VND/month.
- The increase in Region III is 220,000 VND/month.
-
From July 1, 2024, how will maximum unemployment benefits be calculated based on the monthly minimum wage?
The monthly unemployment benefit is 60% of the average salary of the last 6 months of unemployment insurance contributions but does not exceed 5 times the regional minimum wage stipulated by the Government at the last month of insurance premium.