FX.co ★ Vietnam to Raise Minimum Wage by Over 7% from January 2026

The Vietnamese government is set to increase the minimum wage for contracted workers by over 7% starting next year, as revealed in an official document obtained by Reuters. This adjustment is likely to elevate labor costs for companies operating in the region. According to the document endorsed by Deputy Prime Minister Ho Duc Phoc, the revised minimum wage will range between 3.7 million and 5.31 million dong (approximately USD 141–202) on a monthly basis, contingent upon the region. This change is slated for implementation on January 1, 2026. The designated minimum wage serves as a benchmark for employers when negotiating remuneration with employees and is applicable to those working under formal employment contracts. Vietnam, recognized as a prime manufacturing hub in Southeast Asia owing to its competitive labor costs, which lure foreign investment, last adjusted its minimum wage approximately 18 months ago. Additionally, the minimum hourly wage is set to increase to a range of 17,800–25,500 dong, varying by region.