VietNamNet Bridge – Hundreds of millions of dong are paid to
the CEOs who work in the “hot business fields” such as finance and banking,
power and oil and gas.
CEOs in state owned conglomerates receive tens of millions of dong
How much the CEOs of Petrolimex
(petroleum importer and distributor) and EVN (the Electricity of Vietnam)
receive for their jobs every month is the thing that most people are interested
in.
EVN’s General Director Pham Le
Thanh once revealed that the average pay to EVN’s workers in 2009 was 7.3
million dong, saying that this was a modest pay level.
In fact, the income was really
not modest in Vietnam, if noting that garment workers could receive 2 million
dong a month in the same year, while the ones with the monthly income of 10
million dong and higher would be listed as high income earners.
Nguyen Tien Tung, Deputy Chief
Inspector of the Ministry of Labor, War Invalids and Social Affairs, said the
total income of power workers were 5.929 million dong a month in 2008, 7.308
million dong in 2009 and 7.628 million dong in 2010.
In 2010, the average pay to the
workers of the holding company was 14.105 million dong. The average income of
every worker in the power transmission sector was 11.103 million dong, while
every worker in the power generation sector 10.387 million dong and a worker in
power distribution was 6.765 million dong.
The members of the board of
directors of EVN received 37 million dong a month on average. The then
President Dao Van Hung got the highest pay, 51 million dong a month.
The income of the President of
Petrolimex, the petroleum distributor which has reported the loss worth
trillions of dong is really the dream of many people.
Despite the big loss of 1,423
billion dong as confirmed by the State’s Chief Auditor Dinh Tien Dung in 2011,
Bui Ngoc Bao, President of Petrolimex could receive 58 million dong a month, a
bit lower than the 2010’s pay level of 70.7 million dong.
As such, the two state owned
economic groups still give the sky high pay levels to their workers and key
personnel, despite the heavy losses.
PNJ’s “woman general” receives 111 million dong
111 million dong a month is the
pay offered to the CEO of the Phu Nhuan Jewelry Company PNJ Cao Thi Ngoc Dung
in 2011. Besides, the CEO also received the bonus equal to 2.5 month salary.
Dung’s received 1.7 billion dong
a year in total income for her both posts of CEO and President of PNJ.
Since PNJ is a private company,
the pay is decided by the company itself after considering the ability of CEOs,
while it does not have to follow the salary mechanism stipulated for state
owned enterprises.
Real estate big guy receives 240 million dong a month
Though 240 million dong is the
sky high monthly income for most of the Vietnamese, Doan Nguyen Duc, President
of Hoang Anh Gia Lai Group, a big guy in different business fields, including
real estate development.
Hoang Anh Gia Lai pays 240
million dong a month to Duc as the President of the Group, which means that he
receives 2.88 billion dong a year.
Duc was on the second position in
the list of the top stock millionaires released by VnExpress newspaper.
Techcombank’s CEO received 20 billion dong a year
Nguyen Duc Vinh. Former CEO of
Techcombank received 20 billion dong a year when he still served at the bank..
This is the record pay offered to CEOs so far.
Techcombank, under the “reign” of
Vinh obtained very brilliant achievements in both the total assets and turnover
growth rate, about 30 percent per annum.
Compiled by Thu Uyen
Business & Investment Opportunities
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