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Top State salaries put under review

Update: July, 13/2012 - 10:25

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.

In February, Deputy Minister of Labour, Invalids and Social Affairs Pham Minh Huan revealed that the salary of the chairman of Electricity of Viet Nam (EVN) was about VND51 million ($2,400) a month and for its deputy general director about VND40 million ($1,900).

At present, salaries for management staff are regulated under Decision 41 issued in 2007.

Accordingly, the chairman of a company receives about 8.8 to 9.1 times the minimum wage of VND1.05 million ($50), general director 8.5 to 8.8 times, and a deputy general director, 7.9 to 8.2 times. — VNS

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