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Day: July 18, 2024

Vietnam News Roundup: July 12 to July 18

the-shiv July 18, 2024

This week’s Vietnam news roundup covers foreign trader stock market activity, electricity news, new manufacturing projects, State Bank currency management, the latest GDP growth estimates, the European Chamber of Commerce’s Business Confidence Index and more…

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Vietnam’s beer market to nearly double by 2032: Astute Analytica

the-shiv July 18, 2024

These estimates come just weeks after the closure of the Heineken plant in Quang Nam, in central Vietnam which was big news with the provincial government set to lose out on VND 500 billion–or about US$19.8 million–in tax revenue each year. That is not to mention that a number of jobs will also likely be lost…

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Concerns raised Vietnam car registration fee cut could breach trade agreements

the-shiv July 18, 2024

Car imports from Europe to Vietnam mostly came from France and Germany in the first half of this year and were worth a little shy of US$10 million collectively. Of note, import taxes on cars and motorcycles before the EVFTA came into force were between 32 percent and 70 percent. These will be progressively reduced to zero over the first seven to ten years of the agreement…

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Chinese battery to add US$300 million to northern Vietnam operations

the-shiv July 18, 2024

Notably, back in June, a Singaporean battery maker also announced plans to increase its investment by US$5.5 million in southern Vietnam. The expansion of these battery firms aligns with increasing local demand for batteries. According to Mordor Intelligence, the Vietnam battery market size is estimated to reach US$326.32 million in 2024 and US$454.11 million by 2029. This is off the back of a compound annual growth rate of 6.83 percent from 2024 to 2029…

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