Little cheer in TET bonuses

Jan 3, 2010. Increased salary and Tet bonus at many foreign enterprises has been counterbalanced by soaring consumer goods prices.

Hanoi’s Department of Labour, Invalids and Social Affairs reported that the average salary of foreign-invested enterprises (FIEs) in the city in 2010 was VND2.9 million ($ 148) per month, up 30 per cent against 2009. These enterprises’ average Tet bonus is VND4.2 million ($ 216) per person.

In Ho Chi Minh City, the average salary of FIEs outside the city’s export processing zones and industrial parks in 2010 was VND3.8 million ($ 195), up 11 per cent against 2009. Those FIEs’ average bonus for Tet is over VND3 million ($ 154), up 9 per cent against the previous year.

As for FIEs within Ho Chi Minh City’s export processing zones and industrial parks, 111 enterprises reported an average salary of VND2 million ($ 103) per month, higher than the government’s minimum salary of VND1.5 million ($ 77) for FIEs in urban areas, effective from January 1, 2011.

Most enterprises had maintained their growth in 2010 and augmented salaries and Tet bonuses for workers. “However, the augmentation of market prices means that the increased salary and Tet bonus levels are negligible. Workers’ lives remain difficult.”

According to Vietnam General Statistics Office, inflation for 2010 raced to a double-digit figure of 11.75 per cent, driven mostly by food and foodstuffs (up 10.71 per cent against 2009) and housing costs (up 14.68 per cent). Meanwhile, 2009’s CPI rise was 6.88 per cent.

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