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Compal and Pegatron are reportedly increasing manufacturing in Vietnam, whereas Vietnam is poised to extend minimal wage amid rising inflation.
Compal to develop manufacturing in Vietnam to cater rising world demand
In response to the Saigon Occasions, Taiwan-based shopper electronics producer Compal is increasing native manufacturing capability to satisfy surging demand for good gadgets. Following an growth in Vinh Phun Province in Vietnam final yr, the corporate stated it’s increasing operations in Quang Ninh and Nghe An.
Vietnam seals minimal wage hike by 6% subsequent month
In response to Nikkei Asia, Vietnam is rising minimal wage by a mean of 6% this July regardless of objection from companies. The prime minister of the Southeast Asian nation authorized the wage hike final Sunday, as shopper value index rose 2.9% in Could. This would be the first wage hike in two and half years.
Pegatron to shift manufacturing partially from China to Vietnam
In response to the Vietnam Insider, Taiwan-based electronics producer Pegatron stated it plans to shift a part of manufacturing from China to Vietnam. In a shareholder assembly final week, the corporate CEO cited China’s ongoing pandemic restrictions as one of many components behind the shift.
Malaysia smartphone market shrinks by 28.8% in 1Q22
In response to IDC, Malaysia’s smartphone shipments declined by practically 30% on-year within the first quarter of 2022 as a consequence of shortages of parts for low-end 4G fashions and rising inflation. The analysis agency expects to see an annual decline of 5% for the yr in Malaysia citing steady provide challenges.
VinFast to open 25 shops in Germany
In response to electrek, Vietnam-based EV maker VinFast has plans to develop to Europe by opening at the least 50 shops throughout the continent. The carmaker is presently producing its automobiles in Vietnam however planning to arrange manufacturing within the US. It revealed that at the least 25 of the shops might be situated in Germany, 20 in France, and 5 within the Netherlands.
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