Vietnam's customs department contributed a record 348 trillion VND (15 billion USD) to the State budget from the collection of import and export taxes in 2019, according to the General Department of Customs.
Competition in the automobile sector on the domestic market is fierce, not only in the production of local enterprises, but also the significant imports of cars in the first nine months of this year.
The sale of domestically-assembled cars during January-July fell 14 percent year on year to some 107,000 units, while that of completely-built units (CBU) shot up 207 percent to over 73,900, the Vietnam Automobile Manufacturers’ Association (VAMA) said on August 12.
Vietnam-Thailand trade is likely to hit 20 billion USD in 2020, but the target to keep the trade value in balance may not be met with Vietnam currently running huge trade deficit with the neighbouring country.
Auto businesses are concerned about Vietnam’s future policy orientation with regard to the auto industry, which they think will affect their business strategy.
The adoption of a zero percent tariff from January 2018 among member countries of the Association of Southeast Asian Nations (ASEAN) will create opportunities for Vietnamese businesses to seek markets in the region, but competition in the domestic market will also become fiercer with the flood of imports from ASEAN region.
Japanese enterprises raised four problems they face while doing business in Vietnam in a dialogue with the Advisory Council for Administrative Procedure Reform on December 13.
Vietnamese businesses spent some 200 million USD importing 7,000 completely built-up units (CBUs) in November, according to an estimate of the General Statistics Office (GSO).
Truong Hai Automobile Joint-Stock Company (Thaco) launched its new Crossover Utility Vehicle (CUV) Model, the Mazda New CX-5, at Chu Lai-Truong Hai Industrial Complex in Nui Thanh district, the central coastal province of Quang Nam on November 18.
Automobile traders are suffering tough times due to a slide in prices and sales, though the used-car market has been vibrant even during the seventh lunar month called Thang Co hon (Month of lonely spirits), more than 30 units sold per day.
Although many carmakers in Vietnam have applied discounts and promotions, car sales in the first eight months of the year dipped 6 percent year-on-year to 177,000 units, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
Honda Vietnam (HVN) aims to increase the export of completely built-up (CBU) vehicles by 12 percent and introduce 10 new motorbikes to the market in the fiscal year 2018.
Sales of completely – built units (CBUs) increased 114 percent to reach 8,484 in March, according to the latest data released by Vietnam Automobile Manufacturer’s Association (VAMA).
The Ministry of Industry and Trade (MoIT) will continue pursuing the dream of a real auto industry in Vietnam despite the failure of 20 years of efforts towards this goal.
Vietnam’s automobile sales in June totaled 24,421 units, dropping six percent against the previous month, announced the Vietnam Automobile Manufacturers’ Association (VAMA) on July 8.
The import of completely built-up (CBU) autos from India in May jumped more than 20 times from February to over 3,500 units with an average price of only 112 million VND (4,870 USD).
Vietnam’s automobile sales in May totaled 26,028, increasing just one percent from April but 45 percent from the same period last year, released the Vietnam Automobile Manufacturers’ Association.
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