A workshop on wage policy in the context of a market economy andeconomic integration was held in Hanoi on November 25 with the aim ofproviding an overview on regional and international wage policies andfine-tuning those in Vietnam.
About 400,000 businesses areoperating in Vietnam with more than 10 million employees. Up to 95percent of the companies are of small and medium sizes with low labourproductivity and workers’ limited wage bargaining capacity, the workshopheard.
Minister of Labour, Invalids and Social Affairs Pham ThiHai Chuyen said Vietnam has been working to adapt its wage policy to themarket economy mechanism and international economic integration, whichhas resulted in employers and employees’ legitimate rights and interestsbetter ensured and workers’ living standards improved.
However,the country is also facing an array of problems in its competitiveness,workforce quality, and labour productivity, she noted.
During theNovember 19 National Assembly question-and-answer session, the officialadmitted that current salary increases did not ensure workers’wellbeing, elaborating that salary levels met a mere 60 percent of theminimum living standards.
In the ASEAN region,Vietnam’s minimum wage is only higher than that of Laos, Cambodia andMyanmar while its average monthly wage stands at 3.8 million VND (181USD), much lower than the Philippines (206 USD), Thailand (357 USD),Malaysia (609 USD), and Singapore (3,547 USD), according to the report“ASEAN Community 2015: Managing integration for better jobs and sharedprosperity” conducted by the International Labour Organisation (ILO) andthe Asian Development Bank.
A wide wage gap among ASEAN membernations reflects their considerable difference in various fields,including labour productivity, ILO said.
Participants at thetwo-day workshop underscored the need to revise wage policy in order tobalance businesses’ development, helping employees enjoy benefits fromsuch growth.
Wages should be specified on the basisof scientific evidence, the need of labourers and their families, aswell as the demand of businesses and the overall labour market, theyadded.
Participants will focus their discussions on minimumsalary and impacts of minimum salary adjustment on businesses onNovember 26.-VNA
About 400,000 businesses areoperating in Vietnam with more than 10 million employees. Up to 95percent of the companies are of small and medium sizes with low labourproductivity and workers’ limited wage bargaining capacity, the workshopheard.
Minister of Labour, Invalids and Social Affairs Pham ThiHai Chuyen said Vietnam has been working to adapt its wage policy to themarket economy mechanism and international economic integration, whichhas resulted in employers and employees’ legitimate rights and interestsbetter ensured and workers’ living standards improved.
However,the country is also facing an array of problems in its competitiveness,workforce quality, and labour productivity, she noted.
During theNovember 19 National Assembly question-and-answer session, the officialadmitted that current salary increases did not ensure workers’wellbeing, elaborating that salary levels met a mere 60 percent of theminimum living standards.
In the ASEAN region,Vietnam’s minimum wage is only higher than that of Laos, Cambodia andMyanmar while its average monthly wage stands at 3.8 million VND (181USD), much lower than the Philippines (206 USD), Thailand (357 USD),Malaysia (609 USD), and Singapore (3,547 USD), according to the report“ASEAN Community 2015: Managing integration for better jobs and sharedprosperity” conducted by the International Labour Organisation (ILO) andthe Asian Development Bank.
A wide wage gap among ASEAN membernations reflects their considerable difference in various fields,including labour productivity, ILO said.
Participants at thetwo-day workshop underscored the need to revise wage policy in order tobalance businesses’ development, helping employees enjoy benefits fromsuch growth.
Wages should be specified on the basisof scientific evidence, the need of labourers and their families, aswell as the demand of businesses and the overall labour market, theyadded.
Participants will focus their discussions on minimumsalary and impacts of minimum salary adjustment on businesses onNovember 26.-VNA
