Top state salaries under review

The Ministry of Labour, Invalids and Social Affairs is drafting regulations covering salaries, allowances and bonuses for people in top positions in State-owned companies.

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The ministry has called for public contribution to the regulations.

Under the draft, the monthly wage for a board-of-directors’ chairman would range from VND23 million (US$1,090) in a subsidized company to VND36 million (US$1,700) in the parent company.

Wages for general directors or directors would be VND2 million (US$95) less than the aforementioned amounts.

A special member of a board of directors, deputy general director and vice director would receive between VND17 million and VND30 million (US$890).

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 Ministry of Labour, Invalids and Social Affairs Pham Minh Huan revealed that the salary of the chairman of Electricity of Vietnam (EVN) was about VND51 million a month and for its deputy general director about VND40 million.

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 (US$50), general director 8.5 to 8.8 times, and a deputy general director, 7.9 to 8.2 times.

VNA/VOV online