August 2, 2024

Vietnam to remain non-market economy: US Department Of Commerce

The United States Department of Commerce has said in a statement that Vietnam will remain a non-market economy for trade remedies purposes. This ends a months long review of Vietnam’s non-market economy status by the department which reached its findings on the back of “sustained and pervasive government influence” over

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World Bank recommends Vietnam raise alcohol excise tax to 155 percent

The World Bank reportedly does not believe the current tax increase slated for beer and wine in Vietnam are sufficient–The Ministry of Finance has a plan on the table to increase the SCT to 90 percent for beer and between 60 to 100 percent for wine and liquor. This would be an increase from 65 percent on beer and between 35 and 65 percent for wine and hard liquor depending on the alcohol content…

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Hong Kong based Apple supplier to build aluminium factory in Vietnam

This move aligns with the rapidly growing demand for aluminum in Vietnam spurred by new factories belonging to major electronics manufacturers from Taiwan and South Korea, like Foxconn and LG–Foxconn has announced an increase in its investment in Vietnam to US$52.6 million, and LG is set to complete its factory complex in 2025 doubling its investment in Vietnam.

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