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Top State salaries under review

Update: July, 09/2012 - 14:39

HA NOI – The Ministry of Labour, Invalids and Social Affairs is drafting regulations covering salaries, allowance and bonuses for people in top positions in State-owned companies.

The Ministry has called for pubic contribution to the regulations.

Under the draft, the monthly wage for a board-of-directors' chairman would range from VND36 million (US$1,700) in the parent company to VND23 million ($1,090) in a subsidised company.

Wages for general directors or directors would be VND2 million ($95) less than this.

A special member of a board of directors, deputy general director and vice director would receive between VND30 million ($1,428) and VND17 million ($809)

According to the ministry, the new approach to management salaries will be more compatible with those in the market place – and will also reduce the wage gap among different industries.

At present, the salaries for management staff are regulated under Decision 41 issued in 2007. Accordingly, the chairman of a company receives about eight times the minimum wage of VND1.05 million ($50). – VNS

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