A higher basic wage would not only encourage public servants to improve their work performance, but also have positive effects on domestic consumption and, ultimately, on aggregate demands.
Such measures would help minimize the risk of money laundering and ensure transparency.
The basic wage for public staff would increase by 20.8% to VND1.8 million ($73.3) from July 1, 2023, along with a higher allowance for medical staff at grassroots levels.
Such high economic growth reflects the economy’s strong recovery after a difficult period in 2020-2021.
The session runs between October 20 and November 15.
Vietnam is among the top 10 countries with the largest number of cryptocurrency holders, posing a high risk of money laundering and being a route for criminals to exploit for terrorist activities.
The two cities are boosting cooperation in high-ranking exchange visits, investment, trade, tourism, education, agriculture, and people-to-people links.
Once approved by the National Assembly, the cut will take effect on August 1.
Vietnam and the UK would strengthen cooperation in green finance, and digitalization of the financial sector, with the UK's assistance in providing the required resources for Vietnam to realize its commitments at the COP26.
Mozambique seeks further cooperation with Vietnam in agriculture, healthcare, and telecommunications.