Vietnam - Income gap gets wider at State groups and corporations

HANOI – The income gap of employees is getting wider at State economic groups and corporations, according to a recent report.

The report shows that Vietnam Oil and Gas Group (PVN) was taking the lead in average income among four economic groups and 11 corporations under the Ministry of Industry and Trade. Accordingly, the monthly income of PVN’s employees averaged out at VND16.2 million last year, higher than VND15.1 million in the previous year.

Saigon Beer, Alcohol and Beverage Corporation came second with VND9.7 million per worker, dropping slightly from VND9.8 million in 2010.

The third position belonged to controversial Vietnam Electricity Group (EVN) with VND8.6 million last year from VND8.3 million in 2010 and VND7.3 million in 2009.

The average income at Vietnam Coal and Mineral Industries Group (TKV) ranked fourth, going up from VND7.5 million in 2010 to VND7.7 million last year.

It is easy to see that the average incomes of three groups above are much higher than that of Vietnam National Garment and Textile Group (Vinatex) which was only VND3.9 million.

Meanwhile, Vietnam Steel Corporation, Vietnam Chemical Corporation and Vietnam Vegetable Oils Industry Corporation were ones with high incomes among State corporations, at VND7.6 million, VND7 million and VND6.9 million respectively.

Information about wages and incomes at State groups and corporations has attracted the public’s attention lately due to high payrolls compared to the national average, with EVN as an example.

According to the State Audit of Vietnam, the average income of the parent firm EVN was VND13.7 million in 2010, still equivalent to only half of employees at its headquarters, nearly VND30 million per month. The average income of EVN’s office workers was much higher than that of ones in power transmission and distribution sectors, which were VND10.8 million and VND7.9 million last year respectively.

However, the income gap is not only seen at EVN but also at 36 parent companies of economic groups and corporations, according to the Ministry of Labor, War Invalids and Social Affairs.

Accordingly, the average income of board members, general directors and directors at the 36 companies was VND30 million per month in 2010 compared to VND7.64 million of employees.

Deputy Minister Pham Minh Huan said the income of presidents and general directors of some groups and corporations even reached VND70-80 million per month, exceeding the permitted level of VND50 million.

Currently, the State sector only creates jobs for 1.2 million people, which is too small when compared to around 50 million labors in Vietnam.

Tu Hoang - The Saigon Times Daily

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