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