Does Vietnam have a minimum wage?

What is the minimum wage in Vietnam 2020?

Latest update: The minimum wage in Vietnam will be increased from 1,490,000 VND/month (US$63,8) to 1,600,000 VND/month (US$68,5), an increase of 110,000 VND and valid from July 1st, 2020. This is in accordance with Decree 86/2019/QH14 on Nov 12, 2019 about Government’s budget plan in 2020.

Does Vietnam have low wages?

Vietnam’s statutory minimum wage is far below what a person needs to cover the essentials such as food, housing, healthcare and education. But even the wages most garment workers earn on top of the minimum wage fall short of what is considered a living wage.

What is the minimum wage in Vietnam in US dollars?

In 2019, the minimum wages are predicted to increase to VND4. 18 million (US$180) from VND 2.92 million (US$126) in 2018. I 2019, the minimum wage was increased by an average of 5.3% by Vietnam’s National Wage Council.

Minimum Wage – Vietnam*

Region Per Month (VND)
Region III 3,250,000.00
Region IV 2,920,000.00

What is a fair wage in Vietnam?

On average, workers in Vietnam earn the equivalent of VND 4,645,122 ($200) per month . The next highest rung on the ladder, the Global Living Wage Coalition benchmark, is VND 5,760,098 ($248); thus, a living wage would require a pay raise of almost 25 percent, or VND 1,114,976 ($48), per month .

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Is Vietnam a poor country?

Vietnam is now defined as a lower middle income country by the World Bank. Of the total Vietnamese population of 88 million people (2010), 13 million people still live in poverty and many others remain near poor. Poverty reduction is slowing down and inequality increasing with persistent deep pockets of poverty.

What is the unemployment rate in Vietnam?

Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Vietnam unemployment rate for 2020 was 2.27%, a 0.23% increase from 2019. Vietnam unemployment rate for 2019 was 2.04%, a 0.88% increase from 2018.

What is the minimum wage in Hanoi Vietnam?

Region I and Region II

Region 1, which covers the urban areas under Hanoi and Ho Chi Minh, is set to maintain a minimum wage of 4.42mn VND. At the same time, both Hanoi’s and Ho Chi Minh City’s rural areas, as well as major urban areas such as Can Tho, Da Nang and Hai Phong, will maintain it at 3.92mn VND.

How much is cost of living in Vietnam?

Even in these two places, a couple can enjoy a comfortable, middle-class lifestyle for less than $1,300 per month. Many Westerners who live in Hanoi and Ho Chi Minh City get by spending around $500 per month, but it’s a no-frills lifestyle.

Cost of Living in Vietnam.

Expense U.S. $
Monthly Total: $899 to $1,469

Which country has the lowest minimum wage?

Cuba is the country with the world’s lowest minimum wage. On a monthly basis, an employee in Cuba receives the minimum wage of 225 Cuban pesos –equivalent to $9.

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How much is a house in Vietnam?

The average home in Vietnam costs approximately $4,500. Monthly rent varies, but the average cost is about $650, and this price often includes utilities.

What is a good salary in Vietnam?

While there are some older expats and families, the majority of expats in Vietnam are in the 18-35 age group. Average Local Salary: The average monthly salary of a worker in Vietnam is about $148 per month; those in high paying jobs bring home around $500 per month.