Average monthly wages at FDI firms in Vietnam increase 2.5% to $356
The average monthly wage per head at foreign-invested businesses in Vietnam rose 2.5% year-on-year to VND8.68 million ($356) in 2023, according to a preliminary report by the Vietnam General Confederation of Labor (VGCL).
Overall, the VGCL, head of all labor unions in the country, said the average monthly wage in Vietnam rose 5% year-on-year to VND8.65 million ($354) last year. The figures were VND9.8 million ($401) at state-owned businesses and VND8.7 million ($356) at private domestic businesses, up 3% and 8%, respectively.
Workers have lunch at a Samsung factory in VIetnam. Photo courtesy of Samsung Vietnam.
Regarding bonuses for the Lunar New Year holiday (Tet), the VGCL pointed out that the average rate was VND6.83 million ($279.8), slightly lower than VND6.86 million ($281) last year.
The figures were VND6.69 million ($274) at state-owned enterprises, VND7.78 million ($319) at private domestic businesses, and VND6.05 million ($248) at foreign-invested firms.
While bonuses at state-owned and private domestic companies rose 2.2% and 17% year-on-year, that at foreign-invested firms fell 16%, the VGCL highlighted.
The VGCL also reported 11 labor strikes prior to Tet 2024, lower than 18 in Tet 2023. The popular causes were slow wage payment and disagreements over Tet bonus formulas.
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