Delegate Nguyen Thien Nhan said that if a woman wants to give birth to two children, her salary must be enough to support herself and her child with a minimum salary of 10.5 million/month.
On the afternoon of February 14, speaking at the group on the supplementary project on socio-economic development in 2025 with a growth target of 8% or more, Delegate Nguyen Thien Nhan (HCMC) said that in addition to the economic growth target, it is also necessary to pay attention to sustainable human development.
From the lessons of Korea and Japan, which had double-digit growth for more than 33 years and then stagnated for 29 years, Mr. Nhan proposed implementing two roadmaps: promoting the economy and maintaining the replacement birth rate.
“For a woman to have two children, her salary must be enough to support herself and her child. In other words, two people’s salary can support four people. The world calls it a living wage, not a minimum wage. The minimum wage is essentially enough to support oneself. The deepest reason for the decline in the replacement birth rate is not being able to support two children,” the delegate analyzed.
Therefore, according to Mr. Nhan, from 2025 - 2035, the minimum wage will be changed to a minimum living wage. In Ho Chi Minh City, people asked to answer that the monthly income of a couple must be about 20 - 21 million to cover expenses for a family of 4.
“So the average living wage for a person is 10.5 million/month. But currently the average monthly income is only 4.96 million (HCMC). If it is not enough, people will not give birth,” Mr. Nhan noted and said that there must be a roadmap to increase wages to ensure that people can have children.
In the case of opinions that if wages increase, will Vietnam still be attractive for investment?, the HCMC delegate said that "we are not worried about that". Currently, the average salary per capita of 10.5 million/month is equivalent to 1.9 USD/hour of work, while currently it is only 0.95 USD/hour.
He cited countries that currently pay $6.90 an hour, 7.26 times higher than Vietnam's current minimum wage. That means Vietnam's living wage is only 27% of South Korea's minimum wage.
Compared to Japan with a salary of 7.23 USD/hour, Vietnam's minimum wage is only 26% of Japan's. As for the US, the minimum wage is 7.25 USD/hour but for 15 years the US minimum wage has not increased, inflation has increased continuously.
“Comparing like this, we can see that Vietnam’s living wage is still attractive enough to attract foreign investment. If this is not resolved before 2040, Vietnam will have a generation of young people with 3 no’s: no marriage - no children - no frustration about not having children, affecting the survival of the country,” Professor Nguyen Thien Nhan analyzed. He emphasized that this is an opportunity to increase living wages to have children.
National Assembly Chairman Tran Thanh Man said that to achieve the growth target of over 8%, the Government has discussed with localities to find solutions. There has never been a year when the Government assigned growth targets to 63 provinces and cities like recently.
According to the National Assembly Chairman, the private economy is the decisive factor for 8% growth, not public investment. Because, of the total social investment, private investment accounts for 55%.
The National Assembly Chairman said that the most important thing is institutional reform so that investors can feel secure that the Government is truly open, waiting for investors to come and they will invest effectively.
“For the first time, Vietnam has collected more than 2 million billion VND in budget revenue. Hanoi leads the country in domestic budget revenue, over 500,000 billion VND,” he cited.
In addition, the National Assembly Chairman also noted that it is necessary to pay attention to cultivating revenue sources, collecting the right amount of revenue for businesses and people to invest in production and business. When conditions and mechanisms are open, it will create favorable conditions for businesses and people to invest. If short-term goals are set, investment will not be attracted.
Along with that, the Government is very interested in solutions to solve wasted resources such as suspended planning, unused projects stuck in procedures, and disputed assets in long-standing cases.
The National Assembly has agreed on a pilot mechanism to resolve the issue in Hanoi, Ho Chi Minh City, and Khanh Hoa; to remove bottlenecks in the real estate market to quickly increase supply.
The National Assembly Chairman emphasized that now is the time to be determined, "however difficult it is, we will unblock it, however blocked it is, we will clear it".
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Source: https://vietnamnet.vn/muon-phu-nu-sinh-2-con-thi-luong-binh-quan-phai-10-5-trieu-thang-2371448.html
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