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$30,940 is highest Tet bonus this year

The highest bonus paid for Tet this year was VND650 million (US$30,940) by a foreign company in the southern province of Dong Nai, the labor ministry reported Wednesday.

It represented a slight decrease from last year when the biggest bonus had been VND700 million.

However, the average bonus is up 8.7 percent this year, according to the Ministry of Labor, War Invalids and Social Affairs.

The average varied, with the private sector paying VND2.5 million ($119), foreign firms paying VND3.3 million, and the public sector, VND4.6 million.

But the ministry said the figures did not reflect the true situation, only what was reported by 3 percent of the country's total number of businesses.

Tong Thi Minh, head of the ministry's Department of the Labor and Wages, said some of the rest have no plans to pay a Tet bonus this year.

Around 55,000 businesses closed down last year, she said, quoting figures from the General Statistics Office.

For the New Year, the average bonus had been VND1.1 million ($52.35), an 18 percent increase from the previous year, according to the ministry. The highest amount was VND6.24 million ($295) paid by a foreign company based in HCMC.

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