Ho Chi Minh City proposes up to $32,600 monthly salary for International Financial Center CEO

Under the proposal, a market-based salary framework would be applied, with the highest salary of VND450-850 million ($17,200-32,600) per month proposed for the chief executive officer (CEO).

The chairperson of the executive agency would earn VND140-200 million ($5,300-7,600) per month, while the vice chairperson would receive VND100-170 million ($3,800-6,500).

The chief operating officer (COO) would earn VND200-400 million ($7,600-15,300) per month, while the chief communications and market development officer (CCO) would receive VND100-180 million ($3,800-6,900).

Heads of departments and equivalent positions would receive VND70-140 million ($2,700-5,300) per month, while deputy heads would earn VND50-90 million ($1,900-3,500) and specialists VND30-60 million ($1,100-2,300).

Consultants to the chairperson and vice chairperson would receive VND70-300 million ($2,700-11,500) per month.

Support staff, including receptionists, drivers and security guards, would be paid VND15-20 million ($570-760) per month.

The total funding required to implement the proposed policies is estimated at around VND99.648 billion ($3.8 million) per year.

Initially, the funding would come from the city budget under the relevant budget allocation system.

If the executive agency generates lawful revenues, the costs would be covered by those revenues and the city budget.

According to the Ho Chi Minh City People’s Committee, the executive agency of VIFC - HCMC is a specialized administrative body responsible for managing, licensing and overseeing investment, business and financial activities within the international financial center.

The nature of its work requires personnel with high professional qualifications, foreign-language skills, international experience and expertise in finance.

Currently, salaries for personnel at the agency remain tied to existing public-sector pay scales, with the highest projected average monthly salary at only around VND11.6 million ($444).

The proposal emphasized the need for a separate mechanism to attract and retain talent, especially as non-civil servants make up around 88 percent of the agency's workforce.

The executive agency has had to advance funds from its regular operating budget to pay staff salaries since February 2026.

The funds are expected to last for only about two more months.

VIFC - HCMC’s executive agency is currently led by chairman Truong Minh Huy Vu, vice-chairman Nguyen Huu Huan and CEO Richard D. McClellan.