Visitors browse at the AutoExpo 2014 which opened yesterday in Ha Noi. The four-day exhibition displays different types of transport vehicles and products made by support industries. — Photo Vnexpress.net

HA NOI (Biz Hub) — The steady recovery of the Vietnamese economy, increasing incomes, improvement in transportation infrastructure conditions and rising demand for vehicles would facilitate development of automotive and motorcycle markets.

Deputy Minister of Industry and Trade Ho Thi Kim Thoa said this during the 11th International Exhibition on Automobile and Supporting Industry (Viet Nam AutoExpo 2014), which began yesterday in Ha Noi.

The four-day exhibition displays different types of transport vehicles assembled or imported by domestic companies as well as products of some support industry enterprises in Viet Nam, Japan, South Korea, India, Thailand, Singapore and Malaysia in 400 booths.

The success of Viet Nam AutoExpo 2014 would create a favourable environment for foreign and domestic firms to seek new trade partners and customers, while making effective contributions to trade promotion and better supporting enterprises in these industries, Thoa said.

Viet Nam would see the sale of 166,000 – 235,000 new cars in the domestic market by 2015, she said, adding that this figure is likely to reach above 830,000 by 2025.

Meanwhile, the domestic motorcycle market was now the fourth-largest in the world after China, India and Indonesia and domestic motorcycle sales for 2020 was forecast at 33.5 million. The motorcycle industry's development strategy, which was approved by the government in 2008, determined that Viet Nam would become a strong motorcycle producer and become a regional centre for the design, production and assembly of motorcycles. — VNS