On June 30, 2024, the Government promulgated Decree 74/2024/ND-CP prescribing statutory minimum wages paid to employees working under labor contracts, thereby changing the regulations on the hourly and monthly statutory minimum wages, at the same time, readjusted some areas applying the minimum wage according to Regions I, II, III, IV Upon its effectiveness, Decree 74/2024/ND-CP will replace the previous Decree 38/2022/ND-CP prescribing statutory minimum wages paid to employees working under labor contracts.