Vietnamese businesses could face losses in the domestic market as the
country opens to the ASEAN member imports later this year in compliance
with the ASEAN Trade in Goods Agreement (ATIGA), according to experts.
Vietnam is expected to manufacture 200,000 automobiles and 4 million
motorbikes in 2015, marking respective yearly rises of 4.4 percent and 2
percent during the 2011-2015 period, according to the Heavy Industry
Department of the Ministry of Industry and Trade.
Eight automobile and mechanical firms plan to set up a "automobile
board" in order to protect domestic producers in anticipation of 2015
tax cuts on imported vehicles.
The Finance Ministry on December 3 issued an order amending the vehicle
import tariff, in keeping with Vietnam's commitment to the World Trade
Organisation (WTO) on tax reduction.
Vietnam's index of industrial production (IIP) from January to November
2014 increased by 7.5 percent year-on-year, according to the General
Statistics Office (GSO).
Ho Chi Minh City could generate 1.4 billion USD by investing in making
its transportation system more resilient in extreme weather conditions, a
study released by Siemens and Arup said last week.
Motorcycles manufacturers in Vietnam are trying to survive in the
face of a prolonged market slump by introducing more budget units with
higher domestic content.
The Vietnamese commercial counsellor in Mexico had a number of
meetings with local officials and entrepreneurs over the past few days
to seek ways to help Vietnamese agricultural products make further
inroads into the Latin American market.
Falling petrol prices, longer financing arrangements and rising consumer
confidence are pushing Vietnamese car buyers towards bigger and more
expensive cars.
The Japanese-funded Honda Vietnam inaugurated its third motorcycle
factory in northern Ha Nam province on November 10, which is expected to
become one of the most technologically advanced in the field in the
world.
Vietnam spent 1.1 billion USD on auto imports during the first 10 months
of the year, nearly doubling 2013's figure and registering the highest
level over the last five years.
Several types of vehicles will enjoy import tariff cuts beginning next
year in line with Vietnam's commitment to the World Trade Organisation
(WTO) on tax reduction.
Thailand’s new vehicle market continued to decrease in September, with
sales falling by 27.5 percent to 68,843 units compared with 94,859 units
in the same month of last year, according to a report released by the
Federation of Thai Industries.
A workshop has been held in Hanoi to promote dissemination work on legal
regulations relating to the use of electric motorcycles and bikes to
ensure safety for riders.
While motorcycle dealers bemoan the slowest sales in a decade,
manufacturers are busy since the beginning of this year, introducing new
models in the hope of triggering a revival.
Vinh Phuc has been one of top spots in attracting foreign direct
investment (FDI) in the north of Vietnam. The province is an attractive
destination for leading investors such as Japan, the Republic of Korea,
US and the EU, the Vietnam Business Forum Magazine (VBF) reported.
Vice Chairwoman of the Hanoi People’s Committee Nguyen Thi Bich Ngoc on
July 7 suggested cooperation with Japan ’s Kagoshima city in
services, tourism and farm produce trading at a reception for Kagoshima
Mayor Hiroyuki Mori.
Shooting of the first Vietnamese-Japanese feature film, based on author
Komatsu Miyuki's decision to have her mother spend the rest of her life
in Vietnam, will begin in November.
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