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Ha Noi Tet bonuses likely to be eclipsed by fat cats in the South

Update: December, 27/2012 - 10:25


Customers visit a store with discounted items in Mipec Tower in Ha Noi's Dong Da District. The average bonus in the capital will be 10 per cent lower than the previous year, which makes many worried about shopping for Viet Nam's biggest festival of the year. — VNA/VNS Photo Tran Ha
HA NOI (VNS)— The highest Tet bonus to be paid by private enterprises in Ha Noi would be more than VND74.5 million (US$3,550) per person, the city's Department of Labour, Invalids and Social Affairs announced.

This compares with a bonus of VND400 million ($19,000) forecast by a HCM City enterprise operating under the Export Processing and Industrial Zones Authority.

The one-week Tet holiday will begin on February 10, 2013.

Ha Noi department deputy director Nguyen The Hung said the average bonus in the capital would be 10 per cent lower than the previous year's Tet bonus, because this year had been tough for many enterprises.

However, many enterprises would still manage to pay their employees salaries and year-end bonuses comparable to the previous year's bonus, said Hung.

The lowest bonus at a private enterprise in the capital would be VND300,000 ($14.2) per person. The average bonus in this sector would be 8.2 per cent lower than last year's bonus.

Among foreign direct investment (FDI) enterprises, the average bonus would be VND200,000 ($9.50) per person on New Year's Eve and VND3.7 million ($176) at Tet, a 12 per cent decrease.

The highest bonus in this sector would be VND66.7 million ($3,200) per person.

In joint stock businesses, the average bonus level would be cut by nearly 8 per cent to VND3.1 million ($149).

Tet bonuses would show the greatest decrease – 14.5 per cent – in wholly State-owned one-member limited companies.

Deputy Minister of Labour, Invalids and Social Affairs Pham Minh Huan said since workers were the primary resource of enterprises firms should make an effort to take care of them.

At least they should pay the traveling costs of staff returning home for Tet, he said.

Meanwhile, in HCM City, the Export Processing and Industrial Zones Authority said the zone's highest average bonus for Tet period would be VND5 million ($238) in the electricity and electronics sector while the lowest average would be VND2.5 million ($119) in the food processing business.

The Giao duc Viet Nam (Viet Nam Education) newspaper recently reported that a leading national company in the real estate, finance, travel, entertainment, medical and education fields had given a car each to its four best staff as a bonus for Tet. — VNS

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