>> Anger over Tet bonuses leads to strikes in FIEs
Bonuses for the Tet Holiday 2011 are not keeping up with the rise in prices, even though the bonuses are slightly higher than they were last year.
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| Tet bonuses don’t add up to increasing costs |
Pham Xuan Hong, deputy chairman of the Vietnam Textile and Apparel Association (Vitas) said, “Although the Tet bonuses are a bit higher in 2011 than the year before, adjusted for price inflation and currency devaluation the real value is the same or even less.”
He appealed to authorities in the garment textile industry to try to maintain workers bonuses at previous levels, despite the difficulties resulting from the recent global economic downturn.
Holiday bonuses in the banking, securities, telecom, oil and gas industries are often higher than those in the education, garment textile, urban sanitation and environmental protection industries.
Ms. Lan, a teacher of Dai Yen Primary School in Hanoi, said she may have a Tet bonus of VND1 million (USD50) this year. Still, she added, even if this sum is better than the VND500,000 she received last year, the gain is insignificant when compared to the soaring prices for goods and services.
On average, a factory worker is estimated to receive a Tet bonus of between VND2 million and VND3 million (USD100-USD150).
Vietnam Steel Association (VSA)\'s Chairman Pham Chi Cuong vowed that the steel industry will maintain bonuses at the same level as last year, even in the aftermath of difficulties in that sector in the final months of the year. He said that the bonuses may not be of much help to employees in the face of steep price hikes.
The price of sticky rice has soared to VND30,000 (USD1.5)/kg from VND20,000 (USD1)/kg during the Lunar New Year of 2010. The price of green beans and pork have also risen dramatically from VND32,000 (USD1.6)/kg from VND25,000 (USD1.25)/kg and to VND70,000 (USD3.5)/kg from VND50,000 (USD2.5)/kg, respectively.
Tong Thi Minh, Director of the Ministry of Labour, Invalids and Social Affairs (MoLISA)’s Department of Labour and Salary said the Tet bonuses for 2011 indicate a fall in employee’s standards of living.