While sustainable production is slowly taking hold around Vietnam, interest in sustainable consumption would benefit from raising awareness about what it actually means for consumers.
According to the Vietnam Steel Association (VSA), finished steel production reached 2.252 million tons in July, down 6.19 per cent compared to June and 12.5 per cent year-on-year. Consumption of steel of all types stood at 1.99 million tons, down 11.48 per cent against June and 12.1 per cent year-on-year.
Figures from the Vietnam Automobile Manufacturers Association (VAMA) show that the local market excelled in July, posting a 20 per cent increase compared to June and up 88 per cent year-on-year. The popularity of the Mitsubishi Xpander returned, with it leading sales.
According to Kirin Holdings, Vietnam ranks ninth in the world in terms of beer consumption, with more than 3.8 million kiloliters consumed in 2020, or 2.2 per cent of the global total.
A number of credit institutions have recently provided large consumption loans to individual customers that are actually for real estate. According to the State Bank of Vietnam (SBV), this is potentially risky if there are fluctuations in the real estate market. It is therefore expected to issue new regulations to tackle lending for real estate that is disguised as other lending.
