Saturday, August 15 2020


Tết bonuses in HCM City rise by 10 per cent

Update: January, 03/2018 - 09:00
Workers in HCM City receive Tết gifts. Photo
Viet Nam News

 HCM CITY — Tết (Lunar New Year) bonuses in HCM City are expected to rise 10.8 per cent compared to last year, with the average bonus being VNĐ8.3 million (US$364), according to a report from the city’s Department of Labour, Invalids and Social Affairs.

As of the end of last month, 1,960 businesses with 260,000 workers in the city had submitted their plans for Tết bonuses, Lê Minh Tấn, director of the Department, said.

The highest Tết bonus of VNĐ1.5 billion ($65,800) will be offered by a foreign direct investment banking company, while the average bonus at FDI companies will be VNĐ2.7 million ($118) a worker.

At domestic companies, the average Tết bonus will be VNĐ8.3 million ($364) a worker, and the highest Tết bonus at domestic companies VNĐ855 million ($37,500) a worker.

Besides Tết bonuses, more than 800 businesses have reported that they will also offer support for disadvantaged workers such as free coach tickets and Tết gifts.

More than 300 enterprises at industrial parks and export processing zones in the city plan to offer Tết bonuses equal to at least one month salary, according to Trần Công Khanh, head of the labour management office at the HCM City Export Processing and Industrial Zone Authority.

The average Tết bonus at Pou Yuen Vietnam Co. Ltd. in Bình Tân District, for example, will be equal to 1.2-2.2 months of salary per worker. 

In Đồng Nai, the highest Tết bonus is granted to an employee at an FDI firm that manufactures basic chemicals at Gò Dầu Industrial Park – VNĐ408 million ($18,000). Meanwhile, among the 179 firms in Cần Thơ City that sent Tết bonus report to local labour department, the highest rate is VNĐ467 million ($20,700).

Châu Hồng Thái, deputy head of Cần Thơ City’s labour department, said the locality’s economic situation had improved in 2017 so the Tết bonus rates among firms would probably be equal or higher than last year’s.

However, the news is not good for everyone. There are still those who wish they could just keep their jobs, never mind receiving a bonus.

Also according to a report from HCM City, 179 enterprises say they are struggling to pay monthly wage and Tết bonuses to their staff. And there are a few that aren’t even thinking about giving Tết bonuses.

Five enterprises in HCM City have reported to the local authority that they owe monthly payment and social insurance fees to 879 workers.

Kiều Ngọc Vũ, vice president of HCM City Labour Federation said that the organisation would support workers at these enterprises by co-coordinating with job centres in the city and providing financial assistance to those in dire need.

Some 37,000 train and bus tickets will be granted to workers to get home for the Tết holidays and a certain amount of money, VNĐ500,000 ($22) will be granted to workers who have recently lost their jobs.

An event called Tết sum vầy (Warm Tết festival) will also be held in HCM City for those who can’t get back to their hometown for the holidays. —VNS



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