The Vietnam government has announced the increasement of the regulated basic wage from VND 1,490,000/month to VND 1,800,000/month from 01 July 2023.
The VND 1,490,000/month basic wage has been in place since 01 July 2019 until 30 June 2023.
It is important to note that the increased basic wage will also have an impact on social and health insurance contributions. Under the new regulations, the maximum salary rate for Social-Health Insurance and Trade Union Contribution will be VND 36,000,000/month from 01 July 2023.