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Economy

Vietnam's minimum wage to rise 6% in July after pandemic freeze

First increase in over 2 years could be followed by another hike in January

Industry groups, such as those representing Vietnam's mainstay textile sector, had objected to the wage increase.   © Reuters

HANOI -- Vietnam will raise the country's minimum wage by an average of 6% in July, the first increase in roughly two and a half years, over objections from businesses as consumer prices move higher.

Inflation is quickening in the Southeast Asian manufacturing hub as fuel prices surge worldwide due to Russia's invasion of Ukraine. Vietnam's consumer price index rose 2.86% on the year in May, up from 2.64% in April.

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