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Vietnam Set To Increase Minimum Wages by 33%; Rise in Expenses for Businesses

Vietnam has proposed to raise minimum monthly wage by about 33% leading to higher operational costs for companies doing business in Vietnam.

 
 
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PRLog - Nov. 16, 2012 - (Sunnyvale, CA)- Vietnam has proposed to raise minimum monthly wage by about 33% leading to higher operational costs for companies doing business in Vietnam. The proposal aims to increase the minimum wage range from the current $67-$96 per month to $89- $125 per month.

The proposal is due to be implemented in March 2013 but if the sluggish economic climate persists the government may further delay the minimum wage hike to September 2013.

The Vietnamese government proposed the hike after it found out that the current minimum wages cover only 60% of cost of living. Majority of local Vietnamese companies have supported the hike.

For more information about Vietnam’s minimum wages, employment law or doing business in Vietnam please call or email us.

For more information on this topic email media@nair-co.com

Get the latest press releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts (http://www.nair-co.com/newsandannoucement.aspx).

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·         tax for expats (http://www.nair-co.com/expatriate-tax-advice.aspx)

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