Key Points of Decree 74/2024/NĐ-CP:
Increase in Regional Minimum Wages: Effective from July 1, 2024, the new regional minimum wages are as follows:
| Region | Minimum Monthly Salary
(Unit: VND/month) |
Minimum Hourly Salary
(Unit: VND/hour) |
| Region I | 4,960,000 | 23,800 |
| Region II | 4,410,000 | 21,200 |
| Region III | 3,860,000 | 18,600 |
| Region IV | 3,450,000 | 16,600 |
Effective Date:
This Decree takes effect from July 1, 2024. Consequently, Decree No. 38/2022/NĐ-CP, dated June 12, 2022, which previously governed regional minimum wages for employees under labor contracts, will expire on July 1, 2024.
