Vietnam to Pursue One Price System

VNA, HANOI, June 28 - Vietnam officials are optimistic about related agencies next month beginning to implement the single-price policy for foreign investors.

The dual-pricing policy that discriminates against foreign investors will be gradually lifted and they will benefit from privileges on land lease price, salary payment in Vietnamese Dong and other measures.

Beginning on July 1, the application fee for foreign direct investment licences will be abolished and telephone and fax machine installation charges for foreigners will be the same as for Vietnamese. Electric power price for foreigners will be based on local currency.

The minimum salary lebel of Vietnamese labourers working for foreign-invested businesses based and paid in Vietnamese Dong as regulated would assure foreign investors on the stability of the local currency. It also helps them to anticipate investment costs and formulate financial plans.

Beginning on July 1, unskilled workers working for foreign businesses in inner districts of Hanoi and Ho Chi Minh City will enjoy a minimum salary of VND 626,000 and VND556,000 if the businesses are located in suburban districts of the two cities or in all districts of Hai Phong, Bien Hoa and Vung Tau cities. A minimum salary of VND487,000 applies to all other foreign-invested businesses.

Labour salaries for businesses operating in areas with poor infrastructure or other difficulties, can be as low as VND417,000 but this minimum must be agreed to by the people's committee chairman of the city or province.

The three salary levels currently applied are US$ 45, US$ 40 and US$ 30, respectively.