Foreign labour could be put off by Vietnam’s social insurance policy
VIETNAMNET Bridge | December 14, 2018
According to the Vietnam Business Forum 2018 (VBF 2018) investment and trade working group, the social insurance contribution rates that have been imposed on both foreign employees and their employers under Decree No. 143/2018/ND-CP, will be the same as those applicable to Vietnamese employees. For instance, 8 percent from employees and 17.5 percent from employers. The contribution rates are based on the salary used to calculate compulsory social insurance which is capped at 20 times the applicable general minimum salary as prescribed by the Government.