HANOI (Reuters) -Vietnam will raise the minimum wage for contracted workers by over 7% from next year, according to a government document reviewed by Reuters, in a move that could potentially increase labour costs for companies.
The new minimum wage will range from 3.7 million dong to 5.31 million dong ($141-$202) per month, depending on the region, according to a document signed by Deputy Prime Minister Ho Duc Phoc on Monday. The decision will take effect on January 1, 2026.
The minimum wage is the basis for employers to negotiate salaries with their workers, and is applicable for people working under employment contracts, according to the document.
The Southeast Asian country, a regional manufacturing hub with cheap labour costs that attract foreign investors, last raised its minimum wage a year and a half ago.
According to the document, the minimum wage per hour will increase to 17,800 dong-25,500 dong.
($1 = 26,344 dong)
(Reporting by Khanh Vu; Editing by David Stanway)
