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THE GOVERNMENT |
THE SOCIALIST REPUBLIC OF VIETNAM |
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No. 248/2025/ND-CP |
Hanoi, September 15, 2025 |
ON THE SALARY, REMUNERATION, AND BONUS SCHEME OF THE DIRECT STATE OWNERSHIP REPRESENTATIVE, THE REPRESENTATIVE OF STATE CAPITAL AND THE CONTROLLER IN STATE-OWNED ENTERPRISES
Pursuant to the Law on Organization of the Government No. 63/2025/QH15;
Pursuant to the Enterprise Law 2020; the Law on amendments to the Enterprise Law No. 76/2025/QH15;
Pursuant to the Law on Management and Investment of State Capital in Enterprises No. 68/2025/QH15;
At the request of the Minister of Home Affairs;
The Government hereby issues this Decree on the salary, remuneration, and bonus scheme of the direct state ownership representative, the representative of state capital and the controller in state-owned enterprises.
This Decree provides for the salary, remuneration, and bonus scheme of the direct state ownership representative, the controller and the representative of state capital in state-owned enterprises in accordance with the Enterprise Law; and in credit institutions with over 50% of charter capital held by the State in accordance with the Law on Credit Institutions, except policy banks.
1. The direct state ownership representative (including the Members’ Council, the President of the company); the Head of the Board of Controllers, the controller (hereinafter referred to as “controller”) in enterprises, credit institutions with 100% of charter capital held by the State.
2. The representative of state capital in joint-stock companies, multiple-member limited liability companies, credit institutions with over 50% to less than 100% of charter capital held by the State (hereinafter referred to as “capital representative”).
3. The ownership representative agencies and other relevant agencies, organizations, and individuals involved in the implementation of the provisions of this Decree.
Article 3. General principles on salary, remuneration, and bonus
1. The direct state ownership representative, controller, and full-time capital representative shall have their salaries graded according to the salary scale established and promulgated by enterprises, serving as the basis for performance of social insurance, health insurance, unemployment insurance, and other regimes in accordance with the labor law, and shall receive salaries and bonuses paid by enterprises; the direct state ownership representative, controller, and part-time capital representative shall have their salaries graded, and shall receive salaries and bonuses paid by the ownership representative agency, associated with the titles and positions held at such agency, and shall receive remuneration paid by enterprises. Salaries of direct state ownership representative, controller, and full-time capital representative, and remuneration of direct state ownership representative, controller, and part-time capital representative paid by enterprises shall be included in the general salary fund of the enterprises.
2. Based on the general salary fund, the bonus fund, and the salary and bonus policies or regulations of enterprises, the Members’ Council or the President of the company shall decide; the capital representative shall provide opinions to the competent authority (Members’ Council, Board of Directors or General Meeting of Shareholders) for decision, and make payments of specific salaries, remuneration, and bonuses for the direct state ownership representative and the capital representative according to the positions held in the enterprise; the ownership representative agency shall provide opinions on specific salaries, remuneration, and bonuses for the controller and notify the enterprise for payment. Salaries, remuneration, and bonuses paid to the direct state ownership representative, the controller, and the capital representative shall not exceed the maximum salary level, maximum remuneration level, and maximum bonus stipulated in Chapter II of this Decree.
3. The maximum salary level and maximum remuneration level in Chapter II of this Decree are stipulated according to the positions of President, member of the Board of Directors, President or member of the Members’ Council, President of the company, Head of the Board of Controllers, controller (hereinafter referred to as “member of the council, controller”), calculated on a monthly average basis and associated with annual business performance indicators, including: owner’s equity or owner’s contributed capital; revenue; pre-tax profit or total revenue minus total cost for enterprises operating not-for-profit. Determination of the maximum salary level, maximum remuneration level, and maximum bonus as the basis for applying specific salaries, remuneration, and bonuses shall be based on the annual business performance indicators of state-owned enterprises and credit institutions as prescribed in Clause 3 Article 2 of the Law on Management and Investment of State Capital in Enterprises, and on the actual position held by the direct state ownership representative, the controller, and the capital representative in enterprises. In particular:
a) For the direct state ownership representative and the capital representative holding the positions of President of the company concurrently serving as General Director or Director, or President of the Members’ Council concurrently serving as General Director or Director as prescribed by law, salaries and bonuses shall be determined according to full-time President of the company or President of the Members’ Council, with salaries increased by 20% of the salary level of such positions; members of the council concurrently serving as members of the executive board shall have salaries and bonuses determined according to those of executive board members, and remuneration of non-full-time members of the council; where the Board of Controllers has only 1 controller in accordance with Article 103 of the Enterprise Law, salaries and remuneration shall be determined according to those of the Head of the Board of Controllers.
b) For the capital representative holding a position other than member of the council, the full-time capital representative shall receive the salary and bonus paid by the enterprise, determined according to the position held in the enterprise under the salary regulations or provisions of the enterprise; the part-time capital representative shall receive the salary and bonus paid by the ownership representative agency, associated with the titles and positions held under Clause 1 of this Article, and the remuneration paid by the enterprise, determined according to the position held in the enterprise under the salary regulations or provisions of the enterprise.
4. When determining the maximum salary level and maximum remuneration level of members of the council and the controller, if objective factors specified in Appendix I enclosed with this Decree directly increase or reduce profit before corporate income tax, or total revenue minus total cost (for enterprises operating not-for-profit) compared to the plan, the Members’ Council or the President of the company shall calculate adjustments; the capital representative shall give opinions to the competent authority (Members’ Council, Board of Directors, or General Meeting of Shareholders) to calculate adjustments, ensuring that salary and remuneration are associated with the enterprise’s actual business performance.
MAXIMUM SALARY, REMUNERATION, AND BONUS OF MEMBERS OF THE COUNCIL AND CONTROLLERS
1. The basic salary level of members of the council and full-time controllers is prescribed as follows:
TABLE OF BASIC SALARY LEVELS
Unit: million VND/month
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Basic salary level Position |
Group I |
Group II |
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Level 1 |
Level 2 |
Level 3 |
Level 4 |
Level 1 |
Level 2 |
Level 3 |
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| 1. President of the Members’ Council (or President of the company), President of the Board of Directors |
80 |
70 |
62 |
53 |
48 |
42 |
37 |
| 2. Head of the Board of Controllers |
66 |
58 |
51 |
44 |
41 |
36 |
31 |
| 3. Members of the Members’ Council, members of the Board of Directors, controllers |
65 |
57 |
50 |
43 |
40 |
35 |
30 |
2. The application of the basic salary level of Group I and Group II shall comply with Appendix II enclosed with this Decree.
Article 5. Maximum salary level
The maximum salary level of members of the council and full-time controllers shall be determined based on the basic salary level prescribed in Article 4 of this Decree and the enterprise’s actual profit, as follows:
1. For enterprises with profit and actual profit not lower than the plan: the maximum salary level equals 2 times the basic salary level; if actual profit exceeds the plan, 1% of profit exceeding the plan shall add 2% of salary, but not exceeding 20% of the salary calculated on the basis of 2 times the basic salary level. If actual profit is lower than the plan, the maximum salary level equals 80% multiplied by 2 times the basic salary level, and multiplied by the ratio of actual profit to planned profit, but not lower than 80% of the basic salary level.
2. For enterprises without profit: the maximum salary level equals 70% of the basic salary level.
3. For enterprises incurring losses or reducing losses:
a) In case of loss: the maximum salary level equals 50% of the basic salary level;
b) In case of loss reduction (including no profit): the maximum salary level equals 80% of the basic salary level, depending on the level of loss reduction compared to the plan;
c) For members of the council and full-time controllers assigned by the ownership representative agency to perform tasks at enterprises incurring losses due to restructuring or dealing with outstanding issues, planned losses: after determining under Point a or Point b of this Clause, the maximum salary level shall be additionally calculated at not more than 50% of the maximum salary level already determined.
4. For enterprises with actual profit at least 2 times higher than the minimum profit target prescribed for Level 1 of Group I corresponding to the sector or field in Appendix II enclosed with this Decree (hereinafter referred to as “minimum profit”), where the salary calculated under Clause 1 of this Article is still lower than the salary for equivalent positions at other enterprises of the same sector/field in the market, the maximum salary level shall be determined as follows:
a) If actual profit is not lower than the plan: the maximum salary level equals 2.5 times the basic salary level if actual profit is at least 2 times higher than minimum profit; 3.0 times the basic salary level if actual profit is at least 3 times higher; 4.0 times the basic salary level if actual profit is at least 4 times higher;
b) If actual profit is lower than the plan: the maximum salary level equals 80% multiplied by the number of times of the basic salary level corresponding to actual profit compared to minimum profit specified at Point a of this Clause, and multiplied by the ratio of actual profit to planned profit, but not lower than the basic salary level.
5. For newly established enterprises or enterprises newly put into operation, the salary level in the first year of establishment or operation shall not exceed the basic salary level; for enterprises newly established on the basis of a merger of enterprises, if the salary level is lower than the highest actual salary of the corresponding positions in the member enterprises prior to the merger, it shall be determined according to the salary of such corresponding positions.
6. For enterprises only providing public products and services: the salary shall be linked with the output of public products and services as follows:
a) If the volume of public products and services is not lower than the plan: the maximum salary level equals 1.5 times the basic salary level; for enterprises providing public products and services playing a particularly important role in key and essential sectors of the national economy under Government regulations, the maximum salary level equals 2 times the basic salary level;
b) Where the volume of public products and services performed is lower than the plan, in which the shortfall in the volume of such public products and services is attributable to the enterprise’s implementation of State policies or to objective factors, the maximum salary level shall be equal to 1.5 times the base salary;
c) If the volume is lower than the plan (other than Point b of this Clause): the maximum salary level equals 80% multiplied by 1.5 times the basic salary level, and multiplied by the ratio of actual volume to planned volume, but not lower than 50% of the basic salary level.
7. For enterprises engaged in both public product/service provision and business activities (beyond public product/service provision): they may choose to determine the salary according to business activities under Clauses 1, 2, 3, 4 and 5 of this Article, or according to public product/service provision under Clause 6 of this Article.
8. For members of the council and controllers who are officers, professional soldiers, defense public employees, officers, non-commissioned officers, or cipher staff: the salary determined under Clauses 1, 2, 3, 6, and 7 of this Article shall not be lower than the salary prescribed by the Government for positions, titles, ranks, grades, salary levels, and allowances applicable to officers, professional soldiers, defense public employees, officers, non-commissioned officers, or cipher staff.
Article 6. Maximum remuneration level
The maximum remuneration level of non-full-time members of the council and controllers shall be determined based on the actual working time but shall not exceed 20% of the corresponding salary of full-time members of the council and controllers.
Article 7. Advance and payment of salary and remuneration
Members of the council and controllers shall be advanced and paid salary and remuneration by enterprises in accordance with the salary regulations or policies of enterprises. Where advances or payments exceed the salary and remuneration prescribed in Articles 5 and 6 of this Decree, members of the council and controllers must return the excess amount advanced or paid before June 30 of the following year.
1. The bonus of members of the council and controllers shall be determined in the bonus fund deducted from the commendation and welfare fund in accordance with the Law on Management and Investment of State Capital in Enterprises, the Government’s regulations on management and investment of state capital in enterprises, and enterprises’ bonus regulations.
2. The specific annual bonus for each member of the council and controller shall not exceed the number of months of salary of the enterprise deducted to establish the commendation and welfare fund prescribed in Clause 1 of this Article, multiplied by the allocation ratio between the commendation fund and the welfare fund as stipulated by law or the enterprise’s regulations, and multiplied by the average monthly salary enjoyed by each member of the council and controller at the enterprise.
RESPONSIBILITIES FOR IMPLEMENTATION AND ENTRY INTO FORCE
Article 9. Responsibilities for implementation
1. The Members’ Council or the President of the company in enterprises, credit institutions with 100% of charter capital held by the State shall:
a) Annually, decide on the salary and remuneration of the preceding year of members of the council before April 15, and the bonus of the preceding year before June 30; determine and report to the ownership representative agency (while sending to the Ministry of Home Affairs for overall supervision) the salary, remuneration, and bonus of the Head of the Board of Controllers and controllers at the same time as deciding on the salary, remuneration, and bonus of members of the council;
b) Within 15 days from the date of deciding the salary, remuneration, and bonus of members of the council, send reports (enclosed with information on business targets planned and implemented by the enterprise as prescribed in Clause 3 Article 3 of this Decree) to the ownership representative agency and the Ministry of Home Affairs for monitoring and inspection.
2. The Head of the Board of Controllers and controllers in enterprises, credit institutions with 100% of charter capital held by the State shall assist the ownership representative agency in inspecting and supervising the implementation of the Members’ Council or the President of the company in accordance with the law and this Decree, and periodically report to the ownership representative agency. If any non-compliance is detected, they shall propose the Members’ Council or the President of the company to make amendments or adjustments. If such proposal is not implemented, they shall report to the ownership representative agency for timely handling.
3. The capital representative shall:
a) Provide opinions and vote at the Board of Directors, Members’ Council, or General Meeting of Shareholders on the salary, remuneration, and bonus of the capital representative;
b) Within 15 days from the date the Board of Directors, Members’ Council, or General Meeting of Shareholders adopts the salary, remuneration, and bonus of members of the council, the capital representative shall send reports (enclosed with information on business targets planned and implemented by the enterprise or credit institution in accordance with Clause 3 Article 3 of this Decree) to the ownership representative agency and the Ministry of Home Affairs for monitoring and inspection.
4. The ownership representative agency shall:
a) Annually, provide opinions and notify enterprises to pay the salary, remuneration, and bonus to controllers in enterprises, credit institutions with 100% of charter capital held by the State, within 15 days from the date the Members’ Council or President of the company reports;
b) Receive and review reports from the Members’ Council or the President of the company and the capital representative on the salary, remuneration, and bonus of members of the council. If any non-compliance is detected, request the Members’ Council or President of the company to amend or adjust; direct the capital representative to give opinions so that the Members’ Council, Board of Directors, or General Meeting of Shareholders amends or adjusts to ensure compliance with this Decree;
c) Organize implementation and inspect, supervise the implementation of regulations of law on salary, remuneration, and bonus at state-owned enterprises and credit institutions under their management.
5. The Ministry of Home Affairs shall:
a) Take charge and coordinate with relevant ministries and agencies to submit to the Government for consideration and adjustment of the basic salary level in accordance with practical conditions of each period;
b) Take charge and coordinate with relevant ministries and agencies to submit to the Government regulations on salary, remuneration, and bonus of the direct state ownership representative, the representative of state capital, and the controller in state-owned enterprises and credit institutions with over 50% of charter capital held by the State;
c) Coordinate with relevant ministries, agencies, and ownership representative agencies to inspect and supervise the implementation of the law on salary, remuneration, and bonus at state-owned enterprises and credit institutions.
1. This Decree shall come into force from September 15, 2025. The regimes prescribed in this Decree shall be implemented from August 1, 2025.
2. Annulment of Decree No. 44/2025/ND-CP dated February 28, 2025 of the Government on management of labor, salary, remuneration, and bonus in state-owned enterprises.
3. Amendments to the first and second bullet points of Point b Clause 1 Article 12 of Decree No. 60/2021/ND-CP dated June 21, 2021 of the Government on the financial autonomy mechanism of public sector entities as follows: “Group 1 and Group 2 entities: Based on the financial situation, the public sector entity shall implement the salary autonomy mechanism (including determination of the general salary fund, payment of salary to public employees and employees) according to the results of its operations as state-owned enterprises with 100% of charter capital held by the State.”
4. For enterprises with 100% of charter capital held by the State whose management structure follows the model where the President of the company concurrently serves as General Director, and which, prior to the come into force of this Decree, were permitted by the Government to include the salary of the President of the company and controllers together with employees’ salary in the general salary fund, and to determine specific salary levels of the President of the company and controllers under the enterprise’s salary payment regulations, the specific salary levels for the President of the company and controllers shall continue to be implemented according to the salary levels stipulated in the enterprise’s salary payment regulations.
5. Determination of the actual general salary fund for employees (including the executive board) and the implemented salary and remuneration of members of the council and controllers at state-owned enterprises and credit institutions from January 1, 2025 through July 31, 2025 (hereinafter referred to as the 7 months of 2025) shall be carried out as follows:
a) The actual general salary fund for the 7 months of 2025 for employees (including the executive board) shall be determined by taking the actual general salary fund of 2025, dividing by 12 months, and multiplying by 7 months; in which the actual general salary fund of 2025 used as the basis for calculating the actual general salary fund for the 7 months of 2025 shall be determined based on the average actual number of employees (including the executive board) employed and the average implemented salary under Decree No. 44/2025/ND-CP dated February 28, 2025 of the Government on management of labor, salary, remuneration, and bonus in state-owned enterprises (hereinafter referred to as Decree No. 44/2025/ND-CP) and its implementing documents (if any);
b) The implemented salary and remuneration for the 7 months of 2025 of members of the council and controllers shall be determined based on the planned salary and remuneration, associated with 2025 business performance indicators, under Decree No. 44/2025/ND-CP and its implementing documents (if any).
Article 11. Transitional provisions
1. The Members’ Council, the President of the company, and the capital representative are entitled to choose to determine the enterprise’s general salary fund from August 1, 2025 through December 31, 2025 on the basis of the employees’ (including the executive board’s) actual general salary fund and the implemented salary and remuneration of members of the council and controllers from August 1, 2025 through December 31, 2025, in the same manner as the salary and remuneration determination for the 7 months of 2025 prescribed in Clause 5 Article 10 of this Decree but calculated for 5 months (from August 1, 2025 through December 31, 2025), if such determination is deemed more convenient than that under the Law on Management and Investment of State Capital in Enterprises and Chapter II of this Decree.
2. With respect to salary, remuneration, and bonus for controllers in single-member limited liability companies with 100% charter capital held by the State that had been transferred by enterprises to the ownership representative agency for administration before this Decree comes into force, but the ownership representative agency has not paid or has not fully paid to controllers, the ownership representative agency shall transfer such amounts back to enterprises for enterprises to proactively make payment to controllers.
1. The ownership representative agency shall organize the management of salary, remuneration, and bonus with respect to enterprises and credit institutions assigned to exercise ownership rights in accordance with this Decree.
2. Off-budget state financial funds that are applying the salary regime under the model of single-member limited liability companies with 100% charter capital held by the State under regulations of regulatory agencies shall, based on Clauses 1, 3, and 4 Article 24 of the Law on Management and Investment of State Capital in Enterprises and this Decree, implement the salary regime for employees, General Director, Director, Deputy General Director, Deputy Director, Chief Accountant, and the salary, remuneration, and bonus regime for the President, members of the Management Council, Members’ Council, Board of Directors, and controllers; in which the basic salary level shall be determined according to the finance sector in sector/field group No. 7 at Point a Clause 2 Section II of Appendix II enclosed with this Decree; profit indicators shall be calculated as pre-tax profit or total revenue minus total costs; for funds operating under the Management Council model, the Management Council shall have salary and remuneration determined equivalent to the Members’ Council.
3. When determining the maximum remuneration level of members of the council and controllers, the Vietnam Stock Exchange and the Vietnam Securities Depository and Clearing Corporation, if affected by objective factors under Appendix I enclosed with this Decree and Points b and c Clause 2 Article 6 of Decree No. 59/2021/ND-CP dated June 18, 2021 of the Government on certain specific matters regarding the financial management mechanism and performance evaluation of the Vietnam Stock Exchange and the Vietnam Securities Depository and Clearing Corporation, resulting in an increase in revenue by more than 7% or a decrease by more than 3%, shall exclude the portion of revenue increasing over 7% (for the case of revenue increase over 7%) or include the portion of revenue decreasing over 3% (for the case of revenue decrease over 3%) in revenue to determine profit as the basis for determining the maximum remuneration level of members of the council and controllers.
4. The Vietnam Deposit Insurance, the Vietnam Development Bank, and the Vietnam Bank for Social Policies shall, based on Clauses 1, 3, and 4 Article 24 of the Law on Management and Investment of State Capital in Enterprises and this Decree, implement the salary regime for employees, General Director, Deputy General Director, Chief Accountant, and the salary, remuneration, and bonus regime for members of the council and controllers; in which, when implementing the salary and remuneration regime, the profit indicator shall be replaced by the indicator of total revenue minus total costs; if affected directly by objective factors under Appendix I and specific factors under Appendix III enclosed with this Decree that increase or decrease total revenue or total costs, the Boards of Directors of the Vietnam Deposit Insurance, the Vietnam Development Bank, and the Vietnam Bank for Social Policies shall calculate exclusions to ensure salary and remuneration are associated with the entities’ actual performance. The Boards of Directors of the Vietnam Development Bank and the Vietnam Bank for Social Policies are assigned to annually consider, decide, and take responsibility for the salary, remuneration, and bonus of the President, members of the Board of Directors, the Head of the Board of Controllers, and controllers of such Banks.
5. The Director General of Vietnam Television shall, based on laws on salary applicable to enterprises with 100% charter capital held by the State and relevant laws, implement the salary regime for public employees and employees, General Director, and Deputy General Director associated with labor productivity and operational efficiency, ensuring revenue covers production costs of Vietnam Television.
6. Political organizations, the Vietnam Fatherland Front, and its member organizations may apply this Decree to implement salary, remuneration, and bonus for enterprises in which political organizations or socio-political organizations hold 100% charter capital or hold over 50% to less than 100% of charter capital.
7. Ministers, heads of ministerial agencies, heads of Governmental agencies, Presidents of the Province-level People’s Committee, and organizations and individuals concerned shall implement this Decree.
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ON BEHALF OF THE GOVERNMENT Ho Duc Phoc |
