The automobile industry, which is a high-tech industry, holds an important role to the industrial development of the country, Prime Minister Nguyen Xuan Phuc has said.
The central city of Da Nang aims to accelerate economic growth from 7.68 percent to 12 percent, while more drastic measures and administrative reforms are needed to turn the city into an as a destination to investment and tourism.
The Vietnamese automobile industry is expected to grow well, driven mainly by an increase in per capita income, demand for cars, and infrastructure improvement.
The Ministry of Industry and Trade (MoIT) will implement solutions to support and promote the automobile industry projects of companies such as Truong Hai Automobile Company (Thaco), Thanh Cong Group, VinFast and others.
A representative from Japan’s Sunwell Solutions JSC said on January 23 that its Vietnamese office officially became operational earlier this month.
Vietnam’s first car manufacturer VinFast, under Vingroup, presented the designs for its new line of vehicles named Premium, and officially launched a contest to select the public’s favourite designs on January 15.
Besides record-breaking achievements, the automobile industry was a growth highlight of Vietnam’s economy in 2018, particularly with the introduction of a made-in-Vietnam branded car.
New policies promoting development of the domestic automobile sector will create opportunities for the industrial real estate market, according to a CBRE Vietnam report released in December.
Deputy Prime Minister Trinh Dinh Dung called for more Japanese investment in automobile industry, energy and tourism which are fields with huge demand and development potential in Vietnam.
Prime Minister Nguyen Xuan Phuc has approved the revised master plan for the development of Chu Lai Open Economic Zone in the central province of Quang Nam to 2035 with a vision to 2050.
Vietnam must make more use of dynamic rather than static advantages to improve its efficiency in FDI attraction, said Dr. Dinh Trong Thang from the Central Institute for Economic Management (CIEM) on November 30.
In order to help boost the Vietnamese automobile industry – one of the most important contributors to national economic growth – the country could do with focusing on its policy stability, market expansion, support industry development, and connectivity reinforcement, according to insiders.
Prime Minister Nguyen Xuan Phuc participated in a ceremony launching the “Vietnamese goods conquer Vietnamese people” programme and introducing new products of local automaker VinFast in Hanoi on November 20.
Vingroup has injected more than 13.6 trillion VND (581.32 million USD) into its VinFast automobile project in the first nine months of this year, marking an increase of over 12.9 trillion VND compared with the beginning of last year.
Vietnamese automobile firms can gain a competitive edge over their rivals in ASEAN if the domestic supporting industry uses more locally-produced parts, heard a conference recently held in Hanoi by the Central Institute for Economic Management (CIEM).
Prime Minister Nguyen Xuan Phuc reaffirmed the Vietnamese Government’s commitment to creating favourable conditions for foreign investors, including those from Japan’s Saitama prefecture, while receiving its Governor Kiyoshi Ueda on October 26.
Ho Chi Minh City enjoyed robust industrial growth in the first nine months of the year thanks to improvements in its business climate, the municipal Department of Industry and Trade (DoIT) said on October 11.
The Mekong Delta city of Can Tho will host the Technology Demonstration and Connection Conference 2018 (TechDemo) from October 3 to October 5.
