Agree to submit a 6% minimum wage increase from July 1, 2024

After a morning of discussion with many different opinions and options, the National Wage Council decided to choose the option of increasing the regional minimum wage by 6%. This proposal will be sent to the Government for decision but still not completed in time to apply from the beginning of 2024.

The new salary level will be applied from July 1, 2024, at the same time as the public sector salary reform is implemented, according to the Council's recommendation.

Previously, in this morning's meeting, the trade union proposed an increase of 6.5-7.3%. Meanwhile, the employer representative wanted to keep it at 4%-5%.

Thống nhất trình mức tăng lương tối thiểu 6% từ 1/7/2024 - 1 — The National Wage Council has agreed and finalized the proposal to increase the regional minimum wage from July 1, 2024 at 6% (Photo: Nguyen Son).

If the proposal is approved, the minimum wage in Region I will increase from VND4.68 million/month to VND4.96 million/month (an increase of VND280,000); Region II will increase from VND4.16 million/month to VND4.41 million/month (an increase of VND250,000); Region III will increase from VND3.64 million/month to VND3.86 million/month (an increase of VND220,000); Region IV will increase from VND3.25 million/month to VND3.45 million/month (an increase of VND200,000).

Regarding the regional minimum hourly wage, the National Wage Council also agreed on a plan to increase by 6% from July 1, 2024.

Specifically, Region I increased from 22,500 VND/hour to 23,800 VND/hour; Region II increased from 20,000 VND/hour to 21,000 VND/hour; Region III increased from 17,500 VND/hour to 18,600 VND/hour; Region IV increased from 15,600 VND/hour to 16,600 VND/hour.

Previously, in early August, the National Wage Council held its first meeting to discuss the adjustment of regional minimum wages in 2024. At the end of the first meeting, the National Wage Council agreed that the next meetings would take place in the fourth quarter of this year, instead of in July and August as usual.

At the meeting, representatives of employees and employers presented the basis and proposed level of increase in regional minimum wage in 2024. Basically, all members shared the difficulties of enterprises, shared the lives of workers and laborers when income does not ensure minimum living standards. At this meeting, the union hoped that the adjustment of regional minimum wage in 2024 would increase from 5 to 6%.

At the first meeting, the technical department of the National Wage Council proposed to increase the regional minimum wage from January 1, 2024 or July 1, 2024.

The proposed wage increase follows the calculation principle that the minimum wage must be equal to or higher than the minimum living standard of workers.

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