New text summary report IN HANOI, VIETNAM

Basic Salary of the Chairman of the Members' Council of the State-Owned Economic Group is VND 70 Million/Month

12:20, 10/07/2024

On February 17, 2020, the Government of Vietnam issued Decree 20/2020/ND-CP on the pilot implementation of labor, salary, and bonus management for certain state-owned economic groups and general corporations.

The basic salary levels of Members of the Member Council, Board of Directors, Chief of the Supervisory Board, and Dedicated Controllers are stipulated as follows:

- Chairman of the Member Council, Board of Directors: 70 million VND/month (Type 1) and 60 million VND/month (Type 2);- Members of the Member Council, Board of Directors; Chief of the Supervisory Board: 60 million VND/month (Type 1) and 50 million VND/month (Type 2);- Controllers: 50 million VND/month (Type 1) and 40 million VND/month (Type 2).

Type 1 applies to companies with planned equity targets of 10,000 billion VND or more; revenue of 30,000 billion VND or more, and 10 management units or a total workforce of 5,000 or more. Type 2 applies to other cases.

For details, see Decree 20/2020/ND-CP, effective from April 1, 2020.

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