The minimum wage is the lowest salary paid to employees performing the simplest jobs under normal working conditions to ensure a minimum standard of living for them and their families, in line with the country’s socio-economic development. In Vietnam, the regional minimum wage is divided into four different economic zones.
The regional minimum wages for the period before July 1, 2024, are the same as the regional minimum wages in 2023 (according to Decree No. 38/2022/NĐ-CP dated June 12, 2022) as follows:
Table of regional minimum wages applicable from January 1, 2024, to June 30, 2024:
Region | Minimum wage per month (VND) | Minimum wage per hour (VND) |
I | 4,680,000 | 22,500 |
II | 4,160,000 | 20,000 |
III | 3,640,000 | 17,500 |
IV | 3,250,000 | 15,600 |
The regional minimum wage table, applicable from July 1, 2024, under Decree 74/2024/NĐ-CP, remains in effect for 2025 as per this decree.
Region | Minimum wage per month (VND) | Minimum wage per hour (VND) |
I | 4,960,000 | 23,800 |
II | 4,410,000 | 21,200 |
III | 3,860,000 | 18,600 |
IV | 3,450,000 | 16,600 |
Entities subject to the minimum wage levels include:
+ Employees working under labor contracts as stipulated by the Labor Code.
+ Employers as stipulated by the Labor Code, including:
– Enterprises as defined by the Enterprise Law.
– Agencies, organizations, cooperatives, households, and individuals engaging hired labor under agreements; in the case of individual employers, they must possess full civil act capacity.
+ Other relevant agencies, organizations, and individuals involved in implementing the minimum wage levels specified.
This is also the regional minimum wage applicable for 2025, serving as the basis for employers and employees to negotiate salaries. Depending on the competence, qualifications, and needs of both parties, the actual salary may be higher than the stipulated minimum wage.
Updating and complying with the regional minimum wage is not only a legal obligation but also a demonstration of a company’s commitment to sustainable and fair development in society.
For further advice, contact our experts:
Do Thi Thu Quynh, Head of Payroll & HR services | quynh.do@tpm.com.vn
Reference Source:
Decree No. 74/2024, dated June 30, 2024, effective from July 1, 2024
Decree No. 38/2022/ND-CP dated June 12, 2022
TPM is proud to be an agency that provides full and excellent services in accounting, tax, HR & advisory services in Vietnam in nowadays business finance market.
TPM TAX AGENCY & CONSULTING CORPORATION
Tax Number: 0312787706
Feel free to contact & reach us!
Address: 102 Phung Van Cung Street, Cau Kieu Ward, Ho Chi Minh City
Email : htdn@tpm.com.vn
Hotline : +84 28 3505 1800