New common minimum salary & regional minimum salary with effect from 01 July 2024

On 30th June 2024, Vietnamese Government just issued Decree No. 73/2024/ND-CP stipulating common minimum salary for Officials, Public Employees and Armed Forces and Decree No. 74/20224/ND-CP regulating minimum regional salary for the Employee working under a labor contract with effect from 1st July 2024.

1. Pursuant to Decree No. 73/2024/ND-CP, from 1st July 2024, common minimum salary as well as maximum monthly salary subject to Social Insurance – Health Insurance (SI - HI) are as follows:

2. Pursuant to Decree No. 74/2024/ND-CP, from 1st July 2024, minimum regional salary per month and per hour as well as maximum monthly salary subject to Unemployment Insurance (UI) are as follows:

The salary increment may affect the Employer’s budget and the Employee’s benefits. 

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