Prime Minister orders annual wage review

18/03/2008 -- 10:53 AM

Ha Noi (VNA) – Prime Minister Nguyen Tan Dung has assigned the Labour, Invalids and Social Affairs Ministry to prepare a decree that would require minimum salaries for both state-own and foreign invested enterprises to be declared every September. The proposed decree is part of a plan to reform salary and social insurance between now and 2010 announced by the Prime Minister last week. The plan requires government officers to submit their proposed adjustments to the salaries paid to senior officials and the allowances paid to retirees and other beneficiaries approved by June and September of this year. The Viet Nam Communist Party Commission for Organisations and the Labour, Invalids and Social Affairs and Interior Ministries will oversee the salaries and allowances for staff and State employees as well as armed services personnel by September. State offices and the ministries to which they answer will have to submit proposals about how they will be financed and operate to the Government for approval by the end of June. The Labour, Invalids and Social Affairs Ministry will submit a preferential allowances policy for those who contributed to the country’s revolution by the end of the year. The ministry will also oversee cooperation with other ministries and agencies to have guidelines for the Social Insurance law prepared before the end of Jun. The guidelines will include instructions about un-employment insurance and a decree for the regulation of voluntary social insurance payments. Plans to finance the salary policy reform will be prepared by the Finance Ministry an submitted to the Government by September. The Labour, Invalids and Social Affairs Ministry’s figures show that the average monthly pay for enterprise workers is 2,2 million VND (137 USD), 10 percent higher than in 2006. The average monthly pay for workers at State-owned enterprises is 2,6 million VND (162 USD). The minimum salary for State employees increased from 450.000VND (28.12 USD) to 540,000 VND (33.75 USD) on January 1, 2008. The minimum monthly salary for workers in State-owned enterprises increased from 450,000VND to 620,000VND (37.75 USD). The salary increase at foreign-invested enterprises was from 710.000 VND (44.33 USD) to 1 million VND (62.5USD).-Enditem.
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