Tuesday , February 7 2023

Average Tet bonuses in Saigon to rise 45% from 2021


HCMC companies are set to pay average Tet bonuses this year of VND13 million (US$550.73), 45% higher than last year, the labor department said.

After a survey of over 1,000 businesses and 220,000 workers the Department of Labor, Invalids and Social Affairs said Thursday that last year the bonus had been VND8.88 million.

The highest amount to be paid this year is VND756 million by a foreign company, and the lowest is VND4.86 million, it said.

Bonuses for New Year are 7.4% lower than last year at around VND3.14 million.

Nguyen Van Lam, deputy director of the department, said of the surveyed businesses, 386 said they were in trouble due to shrinking order books, but still tried to pay Tet bonuses.

The city currently has around 249,000 businesses with over 2.8 million employees.

Vietnam will take a seven-day Tet break from January 20-26.

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