Decree No. 65/2011/ND-CP dated July 29, 2011 of the Government on the pilot implementation of salary management for Parent company – Viettel Group in the 2011 – 2013 period

PLOT MANAGEMENT OF SALARY MANAGEMENT AT VIETTEL IN THE 2011 – 2013 PERIOD

Government issued the Decree No. 65/2011/ND-CP dated July 29, 2011 on the pilot implementation of salary management for Parent company – Viettel Group in the 2011 – 2013 period.

According to this Decree, the Ministry of National Defense takes prime responsibility, coordinate with the Ministry of Labor, War Invalids and Social Affairs, the Ministry of Finance to stabilize salary unit price in accordance with total revenue target minus unpaid salary expenses for Viettel Group in the 2011 – 2013 period.  Unit price of stabilized salary is defined basing on average salary price which is calculated in accordance with total revenue target minus unpaid salary expenses that Viettel Group has implemented in the 2007 – 2010 period.

On the implementation of stabilized salary price in accordance with regulations at sub-clause (2) of this clause, Viettel Group must satisfy 04 conditions: To finish well all tasks of national defense, security appointed by the Party and State; To pay to state budget in accordance with legal regulations; The increasing level of average salary must be lower than increasing level of average productivity; Annual profit must be higher than profit in the previous year at least 5%.

Viettel Group’s annual salary fund is defined salary unit price and the target of total revenue target minus unpaid salary expenses. In the case that Viettel Group cannot ensure the profit target and productivity, salary fund must be deducted to ensure all conditions under regulations.

Basing on salary fund, Viettel Group will be responsible for building salary payment regime for labors, ensuring democracy, justice, publicity, transparency and attaching salary with the completion of production, business, encouraging employees who have skills, professional knowledge, technique, high productivity to contribute more to Viettel Group.