Business representatives agree to increase minimum wage

Speaking with Dan Tri reporter, Vice President of Vietnam Confederation of Commerce and Industry, Vice President of National Wage Council Hoang Quang Phong agreed with the view that regional minimum wages must be adjusted, but the level needs to be considered and negotiated harmoniously and appropriately.

"There must be timely measures to encourage workers. However, the increase levels are still subject to discussion because they are related to consumer index, production capacity, payment, other conditions... so we cannot be indifferent to this matter," Mr. Phong emphasized.

The Vice Chairman of the National Wage Council stated that it was thought that after the Covid-19 pandemic, businesses would recover. However, businesses are now facing more difficulties, both in the domestic and international markets.

"Employers are trying to find every way to maintain jobs and protect workers. Workers are the greatest asset of a business, and not being able to protect them is inappropriate," Mr. Phong pointed out.

Đại diện doanh nghiệp đồng ý phải tăng lương tối thiểu - 1 — Business representatives believe it is necessary to increase regional minimum wages (Photo: Son Nguyen).

Regarding the increase, Mr. Phong said that the business representatives will discuss with relevant agencies and other members to make appropriate decisions. However, he still believes that the minimum wage increase plan will certainly not satisfy everyone, but it is within an acceptable range.

"From January 1, 2024, there will not be enough time to increase wages, and from July 1, 2024, adjusting the minimum wage will be more feasible," analyzed the Vice Chairman of the National Wage Council.

Discussing whether it is possible to reach an agreement on regional minimum wage negotiations in the upcoming second session, Mr. Phong said that this would depend on the progress of the session. If all parties reach a high level of agreement, only one session would be needed, otherwise another session would be required.

Commenting on the above issue, a representative of the Vietnam General Confederation of Labor said that this unit has not yet agreed on a plan to increase the regional minimum wage.

The National Wage Council is expected to hold its second meeting to negotiate the regional minimum wage for 2024 on the morning of December 20 in Hanoi.

Previously, in early August, the National Wage Council held its first meeting to discuss adjusting the regional minimum wage in 2024.

At the end of the first meeting on the morning of August 9, the National Wage Council agreed to hold the next meetings in the fourth quarter of 2023 instead of in July and August as usual.

At the meeting, representatives of employees, employers... presented the basis and proposed level of increase in regional minimum wage in 2024. Basically, all members shared the difficulties of businesses, shared the lives of workers and laborers when income did not ensure minimum living standards.

The technical department proposes a salary increase from 1/1/2024 or 1/7/2024. The proposed salary increase level follows the principle that the minimum wage is equal to or higher than the minimum living standard.

The union wants the minimum wage adjustment in 2024 to increase by 5-6%.

The monthly minimum wage is being applied in Vietnam from July 1, 2022 to December 30, 2023 according to 4 regions: Region 1 is 4.68 million VND/month; Region 2 is 4.16 million VND/month; Region 3 is 3.64 million VND/month and Region 4 is 3.25 million VND/month.

Regarding the minimum hourly wage, region 1 is 22,500 VND/hour, region 2 is 20,000 VND/hour, region 3 is 17,500 VND/hour, region 4 is 15,600 VND/hour.

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