The average monthly salary increased by 9.3 percent in 2017, according to the Ministry of Labour, Invalids and Social Affairs.

The data collected from 63 provinces and cities shows that the average salary was VND6.6 million (USD290) per month in 2017 compared to VND6 million (USD263) per month in 2016.

Illustrative image (Source: VNA)

The salary increase was higher than the 2017 regional minimum salary increase of 7.3 percent.

Workers of a member limited liability company, in which the State owned 100 percent charter capital, received the highest average monthly salary of VND7.9 million (USD347), increasing 4.5 percent compared to the previous year.

Ranked second were joint stock companies which have State capital contributions, with an average monthly salary of VND7.3 million (USD320), increasing 4.6 percent compared to the previous year.

Foreign-invested enterprises witnessed the highest salary increase of 13.5 percent, from 5.9 million VND (260 USD) per month in 2016 to VND6.7 million (USD295) per month in 2017.

The average salary offered by private enterprises rose from VND5.4 million (USD237) in 2016 to VND5.6 million (USD246) in 2017, equivalent to 3.3 percent.

The socio-economic condition of Vietnam in 2017 presented positive signs, with a gross domestic product growth of 6.81 percent, exceeding the target of 6.7 percent. The average consumer price index in 2017 increased 3.53 percent. These improvements motivated the salary hike.