What is the minimum wage in Vietnam?

The proposed Minimum Wage Adjustment for 2016, the third since the establishment of the National Wage Council under the revised Labour Code of 2012, is about 12.4%. It will be submitted to the Government for discussion and approval at the next regular meeting, and go into effect on Jan 1, 2016. According to media reports, the proposed adjustment is twice the level of forecast 2016 GDP growth (6.2%), CPI inflation (1.8% in 2015 and 4% in 2016), and four times average annual productivity growth (3.3%). On the other hand, it is lower than increases in the past four years: 2012 (29%), 2013 (17.5%), 2014 (15%), 2015 (15.1%).