Circular No. 12/2024/TT-BLDTBXH amends and supplements ten Circulars guiding the management of labor, salaries, remuneration, and bonuses for the Vietnam Deposit Insurance Corporation, the Vietnam Asset Management Company, Vietnam Television, Local Investment Development Funds, the State Capital Investment Corporation, the Guarantee Fund for Small and Medium Enterprises, the Small and Medium Enterprise Development Fund, the National Science and Technology Innovation Fund, the Cooperative Development Support Fund, and guidelines for managing labor, salaries, remuneration, and bonuses for the Vietnam Joint Stock Company for Debt Collection.

CIRCULAR

Amending and supplementing 10 Circulars guiding the implementation of labor management, salary, remuneration, and bonuses for the Vietnam Deposit Insurance Corporation, the Vietnam Asset Management Company Limited, Vietnam Television, Local Investment Development Fund, State Capital Investment Corporation, Small and Medium Enterprise Credit Guarantee Fund, Small and Medium Enterprise Development Fund, National Science and Technology Innovation Fund, Cooperative Development Support Fund, and guiding labor management, salary, remuneration, and bonuses for the Vietnam Asset Management Corporation Limited.

Pursuant to Decree No.Decision No. 62/2022/NĐ-CP September 12, 2022 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Labor - Invalids and Social Affairs;

Pursuant to Decree No.51/2016/NĐ-CPdated June 13, 2016, by the Government stipulating labor management, salary, and bonuses for employees working in a limited liability company wholly owned by the State;

Pursuant to Decree No.52/2016/NĐ-CPdated June 13, 2016, by the Government stipulating salaries, remuneration, and bonuses for managers of a limited liability company wholly owned by the State;

Pursuant to Decree No.21/2024/NĐ-CPdated February 23, 2024, by the Government amending and supplementing certain articles of Decree number51/2016/NĐ-CPdated June 13, 2016, by the Government stipulating labor management, salary, and bonuses for employees working in a limited liability company wholly owned by the State and Decree number52/2016/NĐ-CPdated June 13, 2016, by the Government stipulating salaries, remuneration, and bonuses for managers of a limited liability company wholly owned by the State;

Pursuant to Decree No.129/2020/NĐ-CPdated October 27, 2020, by the Government on the functions, tasks, and operational mechanisms of the Vietnam Asset Management Corporation Limited;

Pursuant to the proposal of the Director of the Directorate of Labor Relations and Wages;

The Minister of Labor, Invalids, and Social Affairs issues this Circular to amend and supplement 10 Circulars guiding the implementation of labor management, salary, remuneration, and bonuses for the Vietnam Deposit Insurance Corporation, the Vietnam Asset Management Company Limited, Vietnam Television, Local Investment Development Fund, State Capital Investment Corporation, Small and Medium Enterprise Credit Guarantee Fund, Small and Medium Enterprise Development Fund, National Science and Technology Innovation Fund, Cooperative Development Support Fund, and guiding labor management, salary, remuneration, and bonuses for the Vietnam Asset Management Corporation Limited.

Article 1. Amending and supplementing certain articles of Circular No. 32/2016/TT-BLDTBXH dated October 25, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding labor management, salary, remuneration, and bonuses for the Vietnam Deposit Insurance Corporation.

1. Supplementing Clause 3a after Clause 3 as follows:

"Clause 3a: Salary scale, pay grade table, and pay supplements

The Vietnam Deposit Insurance Corporation shall implement the construction of salary scales, pay grade tables, and pay supplements for employees according to Clause 9a of Circular No. 26/2016/TT-BLDTBXH, which has been supplemented at Clause 3 of Article 1 of Circular No. 06/2024/TT-BLDTBXH dated July 30, 2024, issued by the Minister of Labor, Invalids, and Social Affairs amending and supplementing certain articles of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of labor management, salary, and bonuses for employees working in a limited liability company wholly owned by the State and Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of salary, remuneration, and bonus systems for managers of a limited liability company wholly owned by the State (hereinafter referred to as Circular No. 06/2024/TT-BLDTBXH)."

2. Amending the name of Clause 5 as follows:

"Clause 5. Construction of pay grade tables, ranking, and promotion for determining basic salary levels"

"1. Working tools serving inspection work and administrative violation handling of the market management force include: passenger cars for general work; specialized vehicles: trucks, passenger cars with more than 16 seats, cars equipped with laboratories; motorcycles; high-speed boats; walkie-talkies, quick testing equipment, specialized equipment, information technology and electronic equipment, office machines and other technical equipment according to work requirements and as prescribed by law."

"1. The construction of pay grade tables, ranking, and promotion for determining basic salary levels for managers shall be carried out according to the provisions of Section 2 of Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of salary, remuneration, and bonus systems for managers of a limited liability company wholly owned by the State (hereinafter referred to as Circular No. 27/2016/TT-BLDTBXH), which has been amended and supplemented at Clauses 2, 3, 4, 5, 6, 7, and 8 of Article 2 of Circular No. 06/2024/TT-BLDTBXH."

4. Amending Clause 6 as follows:

"Clause 6. Determination of salary, remuneration, bonus funds, advance payments, and payment of salary, remuneration, and bonuses for managers
1. The determination of planned salary and remuneration funds, average planned salary level; advance payment of salary and remuneration; determination of actual salary and remuneration funds, bonus funds, and payment of salary, remuneration, and bonuses for managers shall be carried out according to the provisions of Articles 3, 9, 10, 12, 14, 15, 16, 17, 18, 19, and Clause 1, Clause 2 of Article 11 of Circular No. 27/2016/TT-BLDTBXH, which has been amended and supplemented at Clauses 9, 10, and 14 of Article 2 of Circular No. 06/2024/TT-BLDTBXH.
2. When determining planned salary and remuneration funds, average planned salary level; advance payment of salary and remuneration; determination of actual salary and remuneration funds, bonus funds, and payment of salary, remuneration, and bonuses for managers and supervisors according to Clause 1 of this Article, the Vietnam Deposit Insurance Corporation shall carry out as follows:
a) Average labor productivity and profit indicators serving as the basis for determining salary, remuneration, and bonus funds, and average salary levels shall be calculated according to Clause 2 of this Article.

b) The exclusion of external factors affecting labor productivity and total revenue minus total expenses shall be carried out according to the provisions of this Article."

Article 2. Amend and supplement some articles of Circular No. 37/2016/TT-BLDTBXH dated October 25, 2016, which has been amended by Circular No. 04/2018/TT-BLDTBXH dated June 22, 2018, issued by the Minister of Labor, Invalids, and Social Affairs guiding the management of labor, wages, remuneration, and bonuses in the Vietnam Asset Management Corporation.

1. Supplementing Clause 3a after Clause 3 as follows:

"Article 3a. Wage scale, wage list, and wage allowances

The VAMC shall establish the wage scale, wage list, and wage allowances for employees in accordance with Article 9a of Circular No. 26/2016/TT-BLDTBXH, which has been supplemented by Clause 3, Article 1 of Circular No. 06/2024/TT-BLDTBXH dated July 30, 2024, issued by the Minister of Labor, Invalids, and Social Affairs amending and supplementing some articles of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016, and Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, both issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of labor management, wages, and bonuses for employees working in limited liability companies wholly owned by the State (hereinafter referred to as Circular No. 06/2024/TT-BLDTBXH).

2. Amend the content "adjusting the ratio based on the amount recovered from non-performing debts purchased by VAMC through special bonds; adjusting the ratio based on the remaining balance at the end of the period of the debt that VAMC has purchased through special bonds" in Point b, Clause 1, Article 4 of Circular No. 37/2016/TT-BLDTBXH, which has been amended by Clause 2, Article 1 of Circular No. 04/2018/TT-BLDTBXH, to read "specifying the ratio based on the amount recovered from non-performing debts purchased by VAMC through special bonds and the ratio based on the remaining balance at the end of the period of the debt that VAMC has purchased through special bonds leading to the amount received according to these ratios from these sources not being sufficient to cover VAMC's costs in purchasing, handling, and managing non-performing debts purchased through special bonds."

3. Supplement Article 5a following Article 5 as follows:

"Article 5a. Establishing the wage list

The Board of Directors of VAMC shall establish and issue the wage list for the Chairman of the Board of Directors, members of the Board of Directors, General Director, Deputy General Director, Chief Accountant, Head of Supervisory Board, and members of the Supervisory Board in accordance with Article 4 of Circular No. 27/2016/TT-BLDTBXH, which has been amended by Clause 3, Article 2 of Circular No. 06/2024/TT-BLDTBXH.

Article 3. Amend and supplement some articles of Circular No. 34/2016/TT-BLDTBXH dated October 25, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the management of labor and wages for the Vietnam Television Station.

1. Amend Article 3 as follows:

"Article 3. Labor Management
1. For units performing production and management tasks (referred to as the production and management sector), based on the job position plan approved in accordance with regulations, the General Director of the Vietnam Television Station shall establish and approve the labor plan for recruitment, utilization, and management in accordance with Section 2 of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of labor management, wages, and bonuses for employees working in limited liability companies wholly owned by the State (hereinafter referred to as Circular No. 26/2016/TT-BLDTBXH), which has been amended by Clause 1, Article 1 of Circular No. 06/2024/TT-BLDTBXH dated July 30, 2024, issued by the Minister of Labor, Invalids, and Social Affairs amending and supplementing some articles of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016, and Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, both issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of wage systems, remuneration, and bonuses for managers of limited liability companies wholly owned by the State (hereinafter referred to as Circular No. 06/2024/TT-BLDTBXH).
2. For overseas representative offices of the Vietnam Television Station, the General Director of the Vietnam Television Station shall determine the number, positions, standards, and appoint officials, civil servants, and public servants to work for each overseas representative office based on their functions, tasks, organizational structure, and the provisions of Decree No. 51/2016/NĐ-CP dated June 13, 2016, issued by the Government regarding labor management, wages, and bonuses for employees working in limited liability companies wholly owned by the State (hereinafter referred to as Decree No. 51/2016/NĐ-CP), Circular No. 26/2016/TT-BLDTBXH, and approve the annual labor plan for each unit to implement recruitment, utilization, and management of labor.

3. For the Multichannel Broadcasting Editorial Board, the General Director of the Vietnam Television Station shall determine the annual labor plan for the Multichannel Broadcasting Editorial Board based on its functions, tasks, organizational structure, and the provisions of Decree No. 51/2016/NĐ-CP, Circular No. 26/2016/TT-BLDTBXH, and approve the annual labor plan for the unit to implement recruitment, utilization, and management of labor.

2. Amend and supplement Point c, Clause 3, Article 5 as follows:

"c) The average planned wage level is determined based on the average actual wage level of the previous year, the average labor productivity, and the degree of revenue covering costs compared to the previous year as follows:

- If revenue covers costs and average labor productivity increases compared to the previous year, the average planned wage can increase up to the extent of the increase in average labor productivity;

- If revenue covers costs and average labor productivity remains the same compared to the previous year, the average planned wage will be the same as the previous year;

- If revenue covers costs and average labor productivity decreases compared to the previous year, the average planned wage will decrease in proportion to the decrease in average labor productivity;

- If revenue does not cover expenses, the average salary level must be reduced to ensure that revenue covers expenses, with the lowest being equal to the wage coefficient and subsistence allowance according to Decree No. 204/2004/ND-CP multiplied by the basic wage rate prescribed by the Government.

3. Repeal Clause 4 of Article 5 of Circular No. 34/2016/TT-BLDTBXH.

4. Amend and supplement Clause 1 of Article 6 as follows:

"1. When determining the wage fund for production and management units, Vietnam Television shall exclude objective factors affecting labor productivity and the level of revenue covering expenses as stipulated in Clause 3 of Article 5 of Decree No. 51/2016/ND-CP, which has been amended and supplemented by Clause 2 of Article 1 of Decree No. 21/2024/ND-CP dated February 23, 2024 of the Government amending and supplementing certain provisions of Decree No. 51/2016/ND-CP dated June 13, 2016 of the Government on labor management, wages, and bonuses for employees working in state-owned joint stock companies with 100% state capital, and Decree No. 52/2016/ND-CP dated June 13, 2016 of the Government on wages, remuneration, and bonuses for managers of state-owned joint stock companies with 100% state capital (hereinafter referred to as Decree No. 21/2024/ND-CP), and consistent with the special characteristics of Vietnam Television, including:
a) Production of news and television programs serving political tasks of the Party and State as directed by competent authorities without being included in the annual production and broadcasting plan and without budget allocation;

b) Implementation of sports events such as the FIFA World Cup and UEFA Euro, resulting in additional copyright fees and program production costs related to copyrights outside the plan, where revenue from these activities is insufficient to cover costs."

5. Amend Article 8 as follows:

"Article 8. Average planned wage level, planned wage fund, advance payment of wages, actual wage fund, and wage distribution of the Multimedia Television Editorial Board

The Multimedia Television Editorial Board bases its determination of the average planned wage level, planned wage fund, advance payment of wages, actual wage fund, and wage distribution on the provisions of Decree No. 51/2016/ND-CP, which has been amended and supplemented by Decree No. 21/2024/ND-CP, and Circular No. 26/2016/TT-BLDTBXH, which has been amended and supplemented by Circular No. 06/2024/TT-BLDTBXH, in accordance with the wage regulations of the Multimedia Television Editorial Board."

6. Amending Article 9 as follows:

"Article 9. Determination of Wages, Advance Payment of Wages, and Wage Distribution for Employees Working at Permanent Representative Offices Abroad

The determination of wages, advance payment of wages, and wage distribution for employees working at permanent representative offices abroad shall be determined in accordance with the provisions of Decree No. 08/2019/ND-CP dated January 23, 2019 of the Government on certain benefits for members of Vietnamese agencies abroad, Decree No. 166/2017/ND-CP dated December 31, 2017 of the Government on standards, quotas, and management and use of public assets at Vietnamese agencies abroad, and guiding documents implementing these decrees."

7. Amend Clause 2 of Article 10 as follows:

"2. In the first quarter of each year, determine and approve the planned wage fund and the actual wage fund of the previous fiscal year of Vietnam Television (for production and management units, this shall be carried out according to the form number 2 attached to Circular No. 26/2016/TT-BLDTBXH), report to the Ministry of Labor - Invalids and Social Affairs and the Ministry of Finance within ten days from the date of approval for inspection and supervision."

8. Replace the phrase "Multichannel Television Editorial Board" in Clause 5 of Article 10 with the phrase "Multimedia Television Editorial Board".

9. Add Clause 6 to Article 10 as follows: "6. Shall be responsible under the law for the role of head of Vietnam Television in preparing budgets, managing, using, settling accounts, and finalizing the wage fund of Vietnam Television in accordance with regulations."

Article 4. Amend and supplement some articles of Circular No. 45/2016/TT-BLDTBXH dated December 28, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the management of labor, wages, remuneration, and bonuses for local development funds.

1. Amend Article 3 as follows:

"Article 3. Wage scale, pay grade, and wage allowances

"Article 7. Establishing the pay grade table, ranking, and increasing the pay grade for the fund to determine the basic wage level

“1. The procedure for appointing, reappointing accounting managers and accounting supervisors, and assigning accounting supervisors shall be carried out according to the procedure for appointing mid-level professional positions as prescribed in Circular No. 29/2017/TT-BCA dated September 1, 2017 of the Minister of Public Security stipulating the procedures and formalities for appointing, dismissing, demoting, and changing positions within the People's Police, amended and supplemented by Circular No. 49/2023/TT-BCA dated October 18, 2023; Circular No. 77/2021/TT-BCA dated July 15, 2021 of the Minister of Public Security stipulating the list of positions and titles and the allocation and use of titles for police officers and non-commissioned officers of the People's Police, and Circular No. 78/2021/TT-BCA dated July 15, 2021 of the Minister of Public Security stipulating the standards for titles of police officers and non-commissioned officers of the People's Police, and any amendments and supplements to these Circulars (if any) and the following provisions:”

"1. Determining the average wage level, wage fund, planned remuneration; actual wage fund, remuneration; bonus fund; paying wages, remuneration, and bonuses for Fund managers shall be implemented in accordance with Articles 3, 9, 11, 12, 14, 15, 16, 17, 18, and Clauses 2, 3, 4, and 5 of Article 10 of Circular No. 27/2016/TT-BLDTBXH, which have been amended and supplemented at Clauses 9, 10, 11, 12, and 14 of Article 2 of Circular No. 06/2024/TT-BLDTBXH."
1. Establishing Salary Scales, Ranking Salaries, and Increasing Pay Grades

4. Add Appendix "Ranking Criteria for Local Development Funds" in accordance with the Appendix issued together with this Circular.
2. Ranking the Fund to Determine Basic Salary Levels

Based on the ranking criteria for local development investment funds set out in the Appendix attached to this Circular, the fund's ranking serves as the basis for determining the basic salary level for dedicated managers. The ranking and re-ranking of the Fund shall be carried out in accordance with the provisions of Article 6 and Article 7 of Circular No. 27/2016/TT-BLDTBXH. In which, the Chairman of the Management Board of the Fund is paid according to the basic salary level of the position of Chairman of the Board of Members; members of the Management Board are paid according to the basic salary level of the position of member of the Board of Members.

3. Amending Clause 1 of Article 9 as follows:

"1. The determination of the average salary level, salary fund, planned remuneration; actual salary fund, remuneration; bonus fund; payment of salary, remuneration, and bonuses for Fund managers shall be carried out in accordance with the provisions of Article 3, Article 9, Article 11, Article 12, Article 14, Article 15, Article 16, Article 17, Article 18, Clause 2, Clause 3, Clause 4, and Clause 5 of Article 10 of Circular No. 27/2016/TT-BLDTBXH, which has been amended and supplemented by Clauses 9, Clause 10, Clause 11, Clause 12, and Clause 14 of Article 2 of Circular No. 06/2024/TT-BLDTBXH."

4. Add the Appendix "Criteria for Ranking Local Development Investment Funds" as issued together with this Circular.

Article 5. Amending and supplementing some articles of Circular No. 16/2018/TT-BLDTBXH dated October 12, 2018, issued by the Minister of Labor, War Invalids and Social Affairs guiding the management of labor, wages, remuneration, and bonuses for workers and managers of State Capital Investment Corporation

1. Supplementing Clause 3a after Clause 3 as follows:

"Article 3a. Establishing wage scales, salary tables, and allowances

SCIC shall establish wage scales, salary tables, and allowances for workers in accordance with Article 9a of Circular No. 26/2016/TT-BLDTBXH, which has been supplemented in Clause 3, Article 1 of Circular No. 06/2024/TT-BLDTBXH dated July 30, 2024, issued by the Minister of Labor, War Invalids and Social Affairs amending and supplementing some articles of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016, and Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, both issued by the Minister of Labor, War Invalids and Social Affairs guiding the implementation of labor management, wages, and bonuses for workers in joint-stock companies with 100% state-owned charter capital (hereinafter referred to as Circular No. 06/2024/TT-BLDTBXH).

2. Amending and supplementing Clause 5 as follows:

"Article 5. Planned Salary Level for Professional Managers

The average planned monthly salary level for professional managers is determined based on labor productivity and business performance of SCIC (excluding the impact of external factors if any), in accordance with Articles 10 and 11 of Circular No. 27/2016/TT-BLDTBXH, which have been amended and supplemented in Clauses 9, 10, 11, 12, and 14, Article 2 of Circular No. 06/2024/TT-BLDTBXH.

3. Amend and supplement Article 6 as follows:

"Article 6. Actual Salary Fund for Professional Managers

The actual salary fund is determined based on the actual number of professional managers (averaged) and the average actual salary level in accordance with Article 15 of Circular No. 27/2016/TT-BLDTBXH.

Article 6. Amending and supplementing some articles of Circular No. 04/2019/TT-BLDTBXH dated January 21, 2019, issued by the Minister of Labor, War Invalids and Social Affairs guiding the implementation of labor management, wages, remuneration, and bonuses for the Guarantee Fund for Small and Medium Enterprises Credit

1. Amend Article 3 as follows:

"Article 3. Wage scale, pay grade, and wage allowances

"Article 7. Establishing the pay grade table, ranking, and increasing the pay grade for the fund to determine the basic wage level

2. Amending and supplementing Article 6 as follows:

"Article 6. Establishing salary tables, grading, increasing pay grades, and ranking the Fund to determine the basic salary level
1. Establishing Salary Scales, Ranking Salaries, and Increasing Pay Grades

The Chairman of the Fund establishes salary tables, grading, and increasing pay grades for Fund managers in accordance with Articles 4 and 5 of Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, War Invalids and Social Affairs guiding the implementation of wage systems, remuneration, and bonuses for managers of joint-stock companies with 100% state-owned charter capital (hereinafter referred to as Circular No. 27/2016/TT-BLDTBXH), which has been amended and supplemented in Clauses 3 and 4, Article 2 of Circular No. 06/2024/TT-BLDTBXH.
2. Ranking the Fund to determine the basic salary levelBased on the classification criteria issued in the Appendix attached hereto, the Fund determines its rank as the basis for determining the basic salary level for professional managers. The ranking and re-ranking of the Fund are carried out in accordance with Articles 6 and 7 of Circular No. 27/2016/TT-BLDTBXH. For the Chairman of the Fund, the basic salary is calculated according to the position of Chairman of the Board of Members.

3. Amending Clause 1 of Article 7 as follows:

"1. The determination of the average salary level, salary fund, planned remuneration; actual salary fund, remuneration; bonus fund; payment of salary, remuneration, and bonuses for Fund managers shall be carried out in accordance with the provisions of Article 3, Article 9, Article 11, Article 12, Article 14, Article 15, Article 16, Article 17, Article 18, Clause 2, Clause 3, Clause 4, and Clause 5 of Article 10 of Circular No. 27/2016/TT-BLDTBXH, which has been amended and supplemented by Clauses 9, Clause 10, Clause 11, Clause 12, and Clause 14 of Article 2 of Circular No. 06/2024/TT-BLDTBXH."

Article 7. Amend and supplement some articles of Circular No. 34/2019/TT-BLDTBXH dated December 30, 2019 of the Minister of Labor, Invalids and Social Affairs guiding the management of labor, wages, remuneration, and bonuses for the Small and Medium Enterprise Development Fund.

1. Amend Article 4 as follows:

"Article 4. Wage scale, pay grade, and wage allowances

The Fund shall establish the wage scale, pay grade, and wage allowances for employees in accordance with Article 9a of Circular No. 26/2016/TT-BLDTBXH which has been supplemented by Clause 3 of Article 1 of Circular No. 06/2024/TT-BLDTBXH dated July 30, 2024 of the Minister of Labor, Invalids and Social Affairs amending and supplementing some articles of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016 of the Minister of Labor, Invalids and Social Affairs guiding the implementation of labor management, wages, and bonuses for employees working in a limited liability company wholly owned by the State and Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016 of the Minister of Labor, Invalids and Social Affairs guiding the implementation of wage systems, remuneration, and bonuses for managers of a limited liability company wholly owned by the State (hereinafter referred to as Circular No. 06/2024/TT-BLDTBXH)."

2. Amend Clause 1 of Article 8 as follows:

"1. The determination of planned wage and remuneration funds; the determination of actual wage and remuneration funds; payment of wages, remuneration, and bonuses to Fund managers shall be carried out in accordance with Articles 3, 9, 11, 12, 14, 15, 16, Clauses 2 and 3 of Article 17, Articles 18 and 19, and Clauses 2, 3, 4, and 5 of Article 10 of Circular No. 27/2016/TT-BLDTBXH which have been amended and supplemented by Clauses 9, 10, 11, 12, and 14 of Article 2 of Circular No. 06/2024/TT-BLDTBXH."

3. Amend Clause 3 of Article 8 as follows:

"3. When determining the planned wage fund and the actual wage fund for managers, the Fund shall exclude objective factors affecting labor productivity, total revenue minus total expenses as stipulated in Article 13 of Circular No. 27/2016/TT-BLDTBXH which has been amended and supplemented by Clause 13 of Article 2 of Circular No. 06/2024/TT-BLDTBXH and Clause 3 of Article 55 of Decree No. 39/2019/NĐ-CP."

Article 8. Amend and supplement some articles of Circular No. 12/2022/TT-BLDTBXH dated June 30, 2022 of the Minister of Labor, Invalids and Social Affairs guiding the implementation of labor management, wages, remuneration, and bonuses for the National Technology Innovation Fund.

1. Amend and supplement Article 5 as follows:

"Article 5. Establishing the pay grade, ranking, and promotion of the Fund to determine the basic wage level
1. Establishing Salary Scales, Ranking Salaries, and Increasing Pay Grades

The Management Board of the Fund shall establish the pay grade, ranking, and promotion for Fund managers in accordance with Articles 4 and 5 of Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016 of the Minister of Labor, Invalids and Social Affairs guiding the implementation of wage systems, remuneration, and bonuses for managers of a limited liability company wholly owned by the State (hereinafter referred to as Circular No. 27/2016/TT-BLDTBXH) which has been amended and supplemented by Clauses 3 and 4 of Article 2 of Circular No. 06/2024/TT-BLDTBXH dated July 30, 2024 of the Minister of Labor, Invalids and Social Affairs amending and supplementing some articles of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016 of the Minister of Labor, Invalids and Social Affairs guiding the implementation of labor management, wages, and bonuses for employees working in a limited liability company wholly owned by the State and Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016 of the Minister of Labor, Invalids and Social Affairs guiding the implementation of wage systems, remuneration, and bonuses for managers of a limited liability company wholly owned by the State (hereinafter referred to as Circular No. 06/2024/TT-BLDTBXH).
2. Ranking the Fund to Determine Basic Salary Levels

The Management Board of the Fund shall implement ranking and re-ranking to determine the basic wage level in accordance with Articles 6 and 7 of Circular No. 27/2016/TT-BLDTBXH. The ranking criteria for the Fund shall temporarily be implemented according to the ranking criteria for the Financial Company group (No. 56. Financial Company) issued together with Circular No. 23/2005/TTLT-BLDTBXH-BTC dated August 31, 2005 of the Minister of Labor, Invalids and Social Affairs - Ministry of Finance guiding the ranking and grading of full-time members of the Board of Directors, General Director, Director, Deputy General Director, Deputy Director, Chief Accountant of state-owned companies. Among them, the Chairman of the Management Board of the Fund shall calculate the basic wage according to the position of Chairman of the Board of Members; members of the Management Board of the Fund shall calculate the basic wage according to the position of member of the Board of Members."

2. Amend Clause 1 Article 6 as follows:

"1. The determination of the average salary level, salary fund, planned remuneration; actual salary fund, remuneration; bonus fund; payment of salary, remuneration, and bonuses for Fund managers shall be carried out in accordance with the provisions of Article 3, Article 9, Article 11, Article 12, Article 14, Article 15, Article 16, Article 17, Article 18, Clause 2, Clause 3, Clause 4, and Clause 5 of Article 10 of Circular No. 27/2016/TT-BLDTBXH, which has been amended and supplemented by Clauses 9, Clause 10, Clause 11, Clause 12, and Clause 14 of Article 2 of Circular No. 06/2024/TT-BLDTBXH."

Article 9. Amending and supplementing some provisions of Circular No. 13/2022/TT-BLDTBXH dated June 30, 2022, issued by the Minister of Labor, Invalids and Social Affairs guiding the implementation of labor management, salary, remuneration, and bonuses for the Cooperative Development Support Fund.

1. Amend Article 3 as follows:

"Article 3. Wage scale, pay grade, and wage allowances

"Article 7. Establishing the pay grade table, ranking, and increasing the pay grade for the fund to determine the basic wage level

2. Amending and supplementing Article 6 as follows:

"Article 6. Establishing salary tables, grading, increasing pay grades, and ranking the Fund to determine the basic salary level
1. Establishing Salary Scales, Ranking Salaries, and Increasing Pay Grades

The Chairman of the Fund establishes salary tables, grading, and increasing pay grades for Fund managers in accordance with Articles 4 and 5 of Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, War Invalids and Social Affairs guiding the implementation of wage systems, remuneration, and bonuses for managers of joint-stock companies with 100% state-owned charter capital (hereinafter referred to as Circular No. 27/2016/TT-BLDTBXH), which has been amended and supplemented in Clauses 3 and 4, Article 2 of Circular No. 06/2024/TT-BLDTBXH.
2. Ranking the Fund to determine the basic salary levelBased on the ranking criteria issued in the Appendix attached to this Circular, the Fund ranks itself as the basis for determining the basic salary level for the dedicated manager. The ranking and re-ranking of the Fund shall be carried out in accordance with the provisions of Articles 6 and 7 of Circular No. 27/2016/TT-BLDTBXH. As for the Chairman of the Fund, the basic salary shall be calculated according to the position of the Chairman of the Board of Members.

3. Amending Clause 1 of Article 7 as follows:

"1. Determining the average salary level, salary fund, planned remuneration; actual salary fund, remuneration; bonus fund; paying salaries, remuneration, and bonuses to the Fund managers shall be implemented in accordance with the provisions of Articles 3, 9, 11, 12, 14, 15, 16, 17, 18, 19, Clauses 2, Clause 3, Clause 4, and Clause 5 of Article 10 of Circular No. 27/2016/TT-BLDTBXH which have been amended and supplemented at Clauses 9, Clause 10, Clause 11, Clause 12, and Clause 14 of Article 2 of Circular No. 06/2024/TT-BLDTBXH."

Article 10. Guidelines for managing labor, salary, remuneration, and bonuses for the Vietnam Asset Management Corporation Limited Liability Company (DATC).

1. DATC implements labor management, salary, remuneration, and bonuses in accordance with the provisions of Circular No. 26/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, Invalids and Social Affairs guiding the implementation of labor management, salary, and bonuses for employees working in a limited liability company wholly owned by the State (hereinafter referred to as Circular No. 26/2016/TT-BLDTBXH), Circular No. 27/2016/TT-BLDTBXH dated September 1, 2016, issued by the Minister of Labor, Invalids and Social Affairs guiding the implementation of salary, remuneration, and bonus systems for managers of limited liability companies wholly owned by the State (hereinafter referred to as Circular No. 27/2016/TT-BLDTBXH), and Circular No. 06/2024/TT-BLDTBXH dated July 30, 2024, issued by the Minister of Labor, Invalids and Social Affairs amending and supplementing certain provisions of Circular No. 26/2016/TT-BLDTBXH and Circular No. 27/2016/TT-BLDTBXH mentioned above.

2. When determining the average labor productivity as the basis for determining salary as stipulated in Point 2 of the Appendix issued together with Circular No. 26/2016/TT-BLDTBXH, the total revenue minus total expenses without salary shall be replaced by the total debt turnover for salary calculation, where the total debt turnover for salary calculation is calculated as 40% of debt purchase turnover and 60% of debt resolution turnover presented in the financial report (debt resolution turnover is calculated as the sum of turnover from debt buying and selling activities; debt resolution turnover through restructuring and converting debt into capital contribution for restructuring enterprises, calculated based on the value of converted debt; debt resolution turnover through offsetting debt with assets, calculated based on the value of resolved debt offset; and debt buying and selling turnover not yet transferred ownership rights, calculated based on the actual amount received from deferred payment contracts of the debtor) in accordance with the specific nature of DATC's operations as prescribed in Article 30 of Decree No. 129/2020/NĐ-CP dated October 27, 2020, of the Government regarding the functions, tasks, and operational mechanisms of the Vietnam Asset Management Corporation Limited Liability Company.

Article 11. Effective Date

1. This Circular takes effect from December 29, 2024.

2. The regulations on salary funds, salary payments, remuneration, and bonuses stipulated in Clause 3 and Clause 4 of Article 1, Clause 2 of Article 2, Clauses 2, Clause 3, Clause 4, Clause 5, and Clause 6 of Article 3, Clauses 2 and Clause 3 of Article 4, Clause 2 of Article 5, Clauses 2 and Clause 3 of Article 6, Clauses 2 and Clause 3 of Article 7, Clauses 1 and Clause 2 of Article 8, Clause 1 and Clause 3 of Article 9, and Clause 2 of Article 10 of this Circular shall be applied from January 1, 2024.

3. The regulations on establishing salary scales, ranking salaries stipulated in Clause 1 of Article 1, Clause 1 and Clause 3 of Article 2, Clause 1 and Clause 2 of Article 4, Clause 1 of Article 5, Clause 1 and Clause 2 of Article 6, Clause 1 of Article 7, Clause 1 of Article 8, Clause 1 and Clause 2 of Article 9 of this Circular shall be implemented from April 10, 2024.

4. The contents prescribed in the Circulars cited in Articles 1, Article 2, Article 3, Article 4, Article 5, Article 6, Article 7, Article 8, Article 9, and Article 10 of this Circular, which are cited in accordance with the provisions of Section 2, Article 9, Article 11 of Circular No. 26/2016/TT-BLDTBXH and Section 2, Article 11, Article 13, Article 20, Article 22 of Circular No. 27/2016/TT-BLDTBXH, shall be cited in accordance with the corresponding contents that have been amended and supplemented in Circular No. 06/2024/TT-BLDTBXH.

5. In case the referenced documents in this Circular are amended, supplemented, or replaced, they shall be implemented in accordance with the newly issued documents.

During the implementation process, if there are any difficulties, please reflect them to the Ministry of Labor, Invalids and Social Affairs (through the Department of Labor Relations and Wages) for consideration and revision.

ANNEX

LOCAL DEVELOPMENT INVESTMENT FUND RATING STANDARDS
(Annexed to Circular No. 12/2024/TT-BLDTBXH dated November 14, 2024 issued by the Minister of Labor, Invalids, and Social Affairs)

Ranking Score Range