Legal Counselling

Vietnam: Exclusion of objective factors when determining salary budget to employees in State-owned enterprises

14:26, 30/10/2016

This content is specified in Circular No. 31/2016/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, providing guidance on management of employees, salary, remuneration and bonus by organizations that are incorporated and operate as wholly state-owned single-member limited liability companies under the Law on Securities.

According to Circular No. 31/2016/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, in addition to objective factors prescribed in clause 1 Article 5 hereof, there are also those causing decreases or increases in revenues from securities activities that affect labor productivity or profits. To be specific:

- The Stock Exchange’s revenue from securities activities is affected by the variations of the number of companies that are listed, register for transactions and have abilities to meet listing requirements; trading volume and price; number of trading members; value of wining bonds; etc.

- For Securities Depositories, their revenue from securities activities is affected by: Volume of annual realized deposited securities; value of first-time registered Government securities in the year and number of stakeholders and number of additional registration; face value and coupon of bonds , treasury bills; the number of times for exercising rights and corresponding number of stakeholders; etc.

View full text at Circular No. 31/2016/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, effective from December 10, 2016.

- Thanh Lam -

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