Expert Column

The 31st: Pitfalls of Small and Medium-Sized Manufacturing Companies Entering Vietnam

As a trigger for Japanese small and medium-sized manufacturing companies to enter Vietnam, there are many cases where companies expand into Vietnam to provide employment for Vietnamese staff who have worked as trainees or engineers in Japanese factories for several years and are returning to their home country after their term ends.

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The 28th: Damage Insurance

For businesses engaged in manufacturing in Vietnam, it is common to enroll in property insurance in advance. To cover damages from natural disasters such as fire and lightning, liability accidents, and damages during construction, various types of insurance are available in Vietnam. This article aims to provide guidance on the types of insurance that can be obtained in Vietnam and the procedures involved.

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The 27th: Binh Dinh Province – A Province Eager to Attract Foreign Direct Investment (FDI)

When manufacturing companies expand into Vietnam, choosing the right industrial zone is a crucial point. Some provinces are actively working to attract foreign direct investment (FDI). Following the previous discussion on Hà Nam Province, this time we will introduce the situation in Bình Định Province in central-southern Vietnam. Bình Định Province has seen significant investments in industries such as food processing, feed production, wood processing, furniture production, and garment manufacturing. Additionally, due to the presence of quarries, there has also been an influx in the stone processing industry, including gravestones and tiles.

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The 23rd: Revision of Minimum Wage

On June 30 this year, the Vietnamese government promulgated Decree No. 74 (74/2024/ND-CP) regarding the minimum wage. It revised the minimum wages set by region, increasing them by an average of 6.0% per month, effective July 1. This is the first revision since the average 6.0% increase on July 1, 2022, a period of 2 years. The decision follows the proposal made to the government by the National Wage Council, which is composed of representatives from the Vietnamese government, labor, and employers.

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