Deputy Prime Le Van Thanh has asked the Ministry of Industry and Trade to study policies to promote the development of the domestic automobile industry, in line with the growing global trend towards electric cars.
Viet Nam’s automobile industry is at cross roads, lagging behind ASEAN competitors, according to a report launched by the International Finance Corporation (IFC) and the Ministry of Planning and Investment (MPI) early this week.
The development of Viet Nam’s automobile industry depends a great deal on its supporting industry, which needs to be developed comprehensively, experts have said.
Deputy Prime Minister Trinh Dinh Dung has asked the Ministry of Industry and Trade to study the possibility of applying safeguards to protect the domestic automobile manufacturing industry from looming zero-tariff car imports.
Cars with various engine displacement values are expected to enjoy a
rebate in the special consumption tax in Viet Nam as of July 1 2016,
according to a revised draft on Tax Law issued by the Ministry of
Finance recently.
Toyota Motor Vietnam (TMV) is wavering between continuing to assemble
and manufacture cars and importing completed cars when the 2018 import
tax on cars from ASEAN countries s to zero.
The BMW World Exhibition and Expo 2014, which is being held in Viet
Nam for the first time, officially opened on Thursday and will run until
Sunday at Royal City here.
At least 15 automobile brands, many providers of a wide range of support
industry products and services, banking and insurance firms are
participating in the Viet Nam Motor Show.
Many well-known automobile brands in the Vietnamese market will not be
present at next week''s Vietnam Motor Show 2013, the country''s biggest
annual exhibition. Instead, they are promoting their vehicles
independently.
Viet Nam''s automobile industry had failed to reach its objective of
selling cars at prices to suit Vietnamese pockets, according to the
Director of the Industry and Trade Ministry''s Heavy Industry Department,
Nguyen Manh Quan.
Ford Motor Company''s Australian subsidiary has announced it is shutting
down all manufacturing operations by 2016. What will Viet Nam learn from
the lesson?