Topic: income

The average income estimated at $295 per month.

Workers in the Red River Delta saw the highest increase.

Vietnam is expected to become an upper-middle-income country by 2030 but this comes with issues.

At the Vietnam Startup 4.0 Forum 2022 on October 19, Dr. Vu Tien Loc, Chairman of the Vietnam International Arbitration Center (VIAC), said that in order to help Vietnam escape from the "middle-income trap" and become a developed country, it is necessary to promote innovative startups and transformation. Vietnam has one of the top 3 most dynamic innovative startup ecosystems in Southeast Asia.

Hanoi has proposed nine groups of solutions to overcome the situation of cadres, civil servants, and public employees leaving their jobs, including boosting their incomes, improving the workplace environment to make it more professional and modern, and creating opportunities for cohesion.

According to HSBC, about 48 million Vietnamese, or nearly half of the population, will earn over $20 a day by 2030. The upper middle class (those with incomes between $50 and 110 a day) is expected to grow by an average of 17 per cent each year in the 2021-2030 period. Vietnam’s annual spending growth is therefore forecast at nearly 8 per cent this decade.