Vietnam Employment Guide

Vietnam is in Southeast Asia with sustained high economic growth, and its manufacturing, technology and service industries develop rapidly. With a large young labor force and improving infrastructure, it is attracting more multinational enterprises to invest in branches or outsourcing teams, becoming a popular market for global employers. In HR management, Vietnam has a relatively sound labor law system covering employment contracts, working hours, minimum wages, benefits and termination procedures. Employers must contribute to social insurance, health insurance and unemployment insurance, and pay salaries monthly in Vietnamese Dong generally. Probation periods, fixed and open-ended contracts have clear legal provisions, and employee dismissals must meet statutory conditions. Flexible employment is growing with digital office trends, but formal labor relations still emphasize written contract compliance. Local professional services are recommended for legal employment procedures.

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Currency

Vietnamese Dong (VND)

Capital

Hanoi

Official language

Vietnamese

Salary Cycle

Monthly

Our Employment Guide in Vietnam

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Understanding Vietnam's Currency for Business Operations

For international HR professionals managing teams in Vietnam, a clear grasp of the local currency is essential for payroll, budgeting, and financial compliance. The official currency is the Vietnamese Dong (VND).

Current Exchange Rate Insights

Exchange rates are dynamic, but as a reference point, the following conversions provide a snapshot for financial planning. For instance, when processing payroll for expatriates paid in their home currency, these rates help ensure accurate and timely salary disbursements.

Vietnamese Dong to Chinese Yuan (CNY): 1 VND ≈ 0.000274 CNY.
Vietnamese Dong to US Dollar (USD): 1 VND ≈ 0.000038 USD.

Practical Implications for HR and Payroll

Fluctuations in the Dong can impact international remuneration packages. Companies like SailGlobal often use multi-currency platforms to mitigate exchange rate risks, ensuring employee satisfaction and financial stability for the business. For example, setting up a local entity requires understanding these conversions for accurate tax and social security calculations.

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