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Vietnam

All countries

Country Details

Currency

Vietnamese Dong (VND)

Official language

Vietnamese

Capital

Hanoi

Is English spoken?

Yes

Time Zone

GMT +7:00

Salary payment frequency

Monthly

General Overview & Economic Facts

Information

Vietnam's economy is rapidly growing, with key sectors including manufacturing, agriculture, and services. The country is becoming a significant player in electronics, textiles, and agriculture exports. The informal sector remains important in rural areas.

Population size

98,000,000

GDP

$409B

Inflation level

3.20%

Average earning + minimum wage

Average monthly salary: VND 15,000,000 (~USD 640); Minimum wage: VND 4,420,000–5,000,000 per month, depending on region

Overview of the labour law

Vietnam’s labor laws are governed by the Labor Code (2019), which addresses employment contracts, working conditions, and employee rights. The law ensures protection for employees in terms of workplace safety, benefits, and severance pay.

Employment Details

Number of Public Holidays

11 public holidays annually

Working Hours

Standard working hours are 8 hours per day and 48 hours per week; some sectors may have reduced hours.

Benefits
  • Health Insurance
  • Vision Insurance
  • Dental Insurance
  • Pension or 401(K)
  • Mental Health Support
  • Life and Disability Insurance
Overtime

Overtime is compensated at 150% of the regular hourly rate for work on regular days, and 200% for work on holidays. Overtime is limited to 30 hours per month.

Notice Period

Notice periods range from 3 to 45 days depending on length of service and employee role.

Probation Period

Probation period is usually 2 months, depending on the nature of the job.

Severance Pay

Severance pay is calculated as 1 month’s salary for each year of service.

Employee Income tax

Income tax rates are progressive, ranging from 5% to 35% based on income brackets.

Employer Social cost

Employers contribute 17.5% of the employee's salary to social security.

Employee Social cost

Employees contribute 10.5% of their salary to social security.

Benefit packages

Health Insurance
Vision Insurance
Dental Insurance
Pension or 401(K)
Mental Health Support
Life and Disability Insurance

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