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Proposed Tax Hike Threatens Vietnam’s Beer Market

Proposed Tax Hike Threatens Vietnam’s Beer Market

by Teuvo Tuomi | Jun 17, 2024 | Vietnam, Food & Drinks, Health, Lifestyle, News, Society, Taxation

Vietnam’s Finance Ministry is proposing a hike in special consumption tax on alcoholic drinks to 100% by 2030. Under the draft, the tax on beer and strong liquor will first be raised to 70-80% by 2026 from the current 65%. “Alcoholic drinks and beer prices...
Vietnamese Becomes an Official Language in San Francisco

Vietnamese Becomes an Official Language in San Francisco

by Teuvo Tuomi | Jun 15, 2024 | News, Culture, Lifestyle, Vietnam

The San Francisco Board of Supervisors has declared Vietnamese an official city language that requires the authorities’ provision of translation services. The decision is aimed at ensuring that residents can be served in the language they are most comfortable in. The...
Foxconn Will Start Production of 5G AirScale for Nokia in Vietnam: Report

Foxconn Will Start Production of 5G AirScale for Nokia in Vietnam: Report

by Teuvo Tuomi | Jun 12, 2024 | Business, China, Digitalization, Finland, Technology, Vietnam, Visions

Foxconn will produce 5G AirScale equipment for Nokia at the former’s factory in Vietnam’s northern province of Bac Giang, Vietnamese state media reports. Production is scheduled to begin in July, according to Dau Tu newspaper, which is run by the Ministry...
Vietnam Among Startup Leaders in Southeast Asia

Vietnam Among Startup Leaders in Southeast Asia

by Teuvo Tuomi | Jun 5, 2024 | News, Business, Innovation, Investment, Technology, Vietnam

According to statistics from the National Agency for Technology Entrepreneurship and Commercialisation Development, Vietnam has currently about 3,800 startups. 11 of these are valued at over US$100 million, and three start-ups are valued at over $1 billion, including...
Vietnam Defines E-Money as Digitally Stored Dong

Vietnam Defines E-Money as Digitally Stored Dong

by Teuvo Tuomi | Jun 3, 2024 | Digitalization, Economy, News, Vietnam

The Vietnamese government has introduced a degree regulating non-cash payments, effective from the beginning of July 2024. The new decree defines e-money as the value of Vietnamese Dong (VND) stored digitally, based on the amount of money prepaid by customers to...
Vietnam’s Industrial Production Surges

Vietnam’s Industrial Production Surges

by Teuvo Tuomi | Jun 2, 2024 | Economy, Business, Manufacturing, News, Vietnam

Vietnam’s industrial production index (IIP) grew by 3.9% over April and 8.9% compared to the same period last year, according to the General Statistics Office (GSO). The GSO said the IIP in the first five months soared 6.8% year-on-year. The manufacturing and...
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