Exploring the Growth of the Vietnam Textile Industry
The Vietnam textile industry has emerged as one of the most dynamic and rapidly growing sectors in the country’s economy. Over the past few decades, Vietnam has transformed from a relatively obscure player to a significant powerhouse in the global textile and garment market. This blog post delves into the factors driving this remarkable growth, […]
Vietnam Statutory Updates 2024
Here are Vietnam’s statutory updates for 2024. Effective July 2024 Ministry Proposes New Decree on Regional Minimum Wage The Ministry of Labor, Invalids, and Social Affairs (MOLISA) has recommended the Government issue a new decree on the regional minimum wage, effective from July 1. The proposal suggests a 6 percent average increase in all four […]
Manufacturing in Vietnam: An Unexplored Goldmine for Global Investors
With the rise of global sourcing and the quest for cost-effective production, manufacturing in Vietnam has become an epicenter for growth and opportunity. The country’s ascension as a manufacturing hub is impressive, embodying the convergence of favorable economic policies, a burgeoning workforce, and strategic geopolitical positioning. This harmonious blend presents a practical alternative for investors […]
Vietnam’s minimum wage increase for 2024
Last month, Vietnam’s National Wage Council set the minimum wage increase for 2024, amounting to a 6% rise. This was decided on due to both inflation and the country’s economic growth—it being one of the fastest growing nations economically in the region. The increase will be implemented in July 2024. As the minimum wage is […]
The Rise of Renewable Energy in Vietnam: Opportunities and Challenges
Let’s look at renewable energy in Vietnam and how the country became the front-runner in Southeast Asia’s green revolution Vietnam’s rapid economic growth has been coupled with a rising demand for energy, prompting a critical shift towards sustainable resources. With the world’s collective eye on green solutions to reduce our carbon footprint and mitigate the […]
Vietnam: Proposed changes to Decree 152 affect Work Permits
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