According to the VNAT, compensation beneficiaries include coastal residents who sell goods or provide services for tourists, owners of restaurants in affected coastal communes and towns and labourers who work in these establishments.
Each of the eligible people will receive VND2.91 million (US$127.8) per month.
The document noted that the verification of compensation receivers should be completed before June 2017.
In April 2016, wastewater discharged illegally by the Taiwan-invested Hung Nghiep Formosa Steel Corporation polluted the sea along more than 200km of coastline in the four central provinces, causing mass fish deaths and devastating the marine environment.
The incident deprived tens of thousands of local people of livelihoods and severely damaged the local economy, including the tourism industry.
In late June 2016, the company admitted responsibility for the mass fish deaths in the central region and pledged VND11.5 trillion (US$500 million) in compensation.