In a year-on-year comparison, production for September 2024 was up by 38.3 percent over the same month in 2023, indicating higher demand in the furniture sector. Furthermore, the cumulative data for the first nine months of 2024 shows a 24.7 percent rise in production compared to the same period last year.

Vietnam’s VinFast has spent US$268.6 million on its stalled North Carolina factory so far

the-shiv October 27, 2024

This is notably in that the factory was officially put on hold earlier this year, as the nascent car maker deals with huge losses, legal action, and little interest in its vehicles in the US market. VinFast has said the factory, which was scheduled to start operating next year, will now start operating in 2028.

Vietnam rubber, plastics firm struggle to compete with cheap chinese goods

the-shiv October 27, 2024

This is noteworthy in that a lot of the focus with respect to cheap Chinese imports has been on the fact that low value goods are exempt from Vietnam’s Value-added Tax. In this context, applying VAT to these low cost imports has been floated as one way to level the playing field. However, it seems that what Nguyen is saying is that it doesn’t even necessarily need to go that far but rather a simplification of VAT refund procedures and processes could help local firms in the first instance.

Healthcare costs in Vietnam up 8.28 percent year-on-year in September

the-shiv October 27, 2024

For the period from January to September 2024, the cost of medicines and medical services surged by 7.46 percent compared to the same period in 2023, underscoring growing pressure on consumers as they face escalating prices in healthcare, but also heightened demand for healthcare services…