Decree 74/2024/NĐ-CP - Increases in Regional Minimum Wages

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The Government has officially issued Decree 74/2024/NĐ-CP, stipulating monthly regional minimum wages and hourly regional minimum wage for employees working under a labor contract.

Key Points of Decree 74/2024/ND-CP:

Increase in Regional Minimum Wages: From 01 July 2024, the monthly minimum wage and the hourly minimum wage for employees working under a labor contract 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 01 July 2024.
- Decree No. 38/2022/NĐ-CP dated 12 June 2022 issued by the Government, stipulating the regional minimum wage for employees working under a labor contract, expires from 01 July 2024.