Industry experts believe that with increased consumer demand and support policies from automakers, the domestic automobile market is forecast to further thrive in the second and third quarters of this year.
Some 50,000 vehicles per year is the minimum production level needed for the growth of the Vietnamese auto part industry. Unfortunately, few car producers in Vietnam have reached such a level.
Authorities in the southernmost province of Ca Mau have exerted every effort to promote direct connections with trade and investment associations and organisations of countries investing strongly in Vietnam and the Mekong Delta region, according to Director of the Ca Mau Investment Promotion and Enterprise Support Centre (iPEC) Quach Van An.
The Vietnam Motor Show 2019 (VMS 2019), to be held at the Saigon Exhibition and Convention Centre from October 23-27, will be a chance for local consumers to see latest models from many renowned automobile brands and breakthrough technologies in the industry.
Vietnamese automobile manufacturers and distributors had a banner month in May as the sales of car experienced a strong monthly growth of 30 percent following a line-up of promotions and discount programmes.
Electronic goods shops and supermarkets in HCM City are offering big promotions on air conditioners, refrigerators and fans as the hot season approaches.
Vietnam imported nearly 11,700 cars worth more than 273 million USD in the first month of 2019, marking the fifth consecutive month with a volume of at least 10,000 units, according to statistics from the General Department of Vietnam Customs.
Deputy Prime Minister Vuong Dinh Hue on September 13 received representatives from Mitsubishi, Deloitte, Hanwha Energy, McKinsey, and HSBC in the framework of the World Economic Forum on ASEAN in Hanoi.
Vietnam’s improving investment climate has made the country become an alluring destination for Japanese investors who commit to furthering investment in the Southeast Asian nation in the future.
Many Japanese firms such as Mitsubishi, Maeda, Kajima, Sumitomo and Creed Group have made investments worth tens to hundreds of millions USD in the Vietnamese realty market within over the past year.
Mitsubishi Corp. is partnering with a Vietnamese firm to develop a major real estate project in Vietnam with construction costs of up to 200 billion JPY (1.9 billion USD).
The low-cost carrier VietJet Air and a Japanese firm signed a purchase-and-lease financing deal on September 15 during Party General Secretary Nguyen Phu Trong’s visit to Japan.
