Rising goods prices have prompted many consumers to cut their discretionary spending in order to prioritize essentials, presenting a challenge for businesses to maintain consumer loyalty.

This new project is expected to be fully completed in 2030. with an annual production capacity of nearly 124 million products.

The bank has upgraded its projection for the country’s 2025 growth at 6.6 per cent, up from its earlier forecast of 6.2 per cent.

Vietnamese exporters face challenges from UK requirements on greener products but non-compliance may put them at risk of losing market access.

At a seminar on December 30, representatives of Vietnam trade offices abroad noted that many necessary conditions have already existed for Vietnamese businesses to expand to the global market.

The target is part of city's plan to develop its labor market.