Focus: Can Housing Tax Help Prevent Speculation? Vietnam is among nations with the highest house price to income ratios. The fast rise of housing prices in major cities is a big headache for authorities as it aggravates inequality and hinders access to housing by low- and middle-income people. Housing tax is a widely-used measure to control and regulate housing prices. However, taxation alone cannot address the problem.
Inside Vietnam
So Near, Yet So Far: Given the sharp drop in orders, many export businesses have returned to the domestic market to maintain production, generate sales and create jobs for their employees. However, the “way back home” is not always easy for those enterprises.
Apparel’s Ambitious Goals: Revenues from local apparel exports are expected to generate billions more even though the global demand for garments and textiles has been cut to roughly US$700 billion this year, an 8% fall over 2022. Experts have cast doubt on the industry’s ambitious goals, particularly when the market gets tough and consumers become wary.
Fighting Against Counterfeits: In early November last year, traders in the Saigon Square shopping center in downtown HCMC tidied up their goods, closed their stores and quickly left the mall when a market surveillance force rushed in. Three months later, the shopping center seemed to return to normal.
Business
Forex Rate Vs Interest Rate: Forex rate and interest rate are two major macro variables in the economy, and they alongside inflation take center stage in monetary management. The correlation between the two variables was specially visible in 2022, with the State Bank of Vietnam (SBV) pivoting around each of them in its monetary policy from time to time.
Businesses Prudent With Financial Targets: Gloomy business conditions are expected to continue through 2023, reflected in Vietnamese enterprises setting modest financial targets for the year.
Imported Furniture Dominates Domestic Market: Given the lack of domestic products, Vietnam’s billion-dollar furniture industry is dominated by imported items, notably low-cost Chinese ones.
Living
The Last Weavers Of Bay Hien Weaving Village: In the 1990s, the weaving village of Bay Hien in Tan Binh District, HCMC, was home to 1,700 households involved in weaving. However, the small craft village has seen the last weavers removing their weaving frames.
Health And Wellness Tourism Fares Well: After two years plagued by Covid-19, many people now tend
to pay more attention to their health aside from relaxation and entertainment. Some travel firms have thus offered health and wellness tours based mainly on the nature.
Travel
Trekking To Lung Cung Peak: Lung Cung Peak, with a height of 2,913 meters, is an ideal trekking destination thanks to its pristine beauty and impressive landscape.
A Distinctive Version Of An Nhon-Style Spring Rolls: With their distinctive flavor, spring rolls served on a flat winnowing basket (banh cuon tret) in An Nhon Town are a favorite among diners.
