Vietnam aims to produce 227,000 units of automobiles and become a supplier of spare parts and high-value items in the world automobile production chain by 2020.

This is part of the goals under a master plan on Vietnam’s automobile industry development by 2020, with a vision up to 2030 recently approved by the Prime Minister.

Under the plan, nine-seat cars will make up 60 percent of the total production by 2020 and 70 percent by 2030. Those with more than 10 seaters will account for 90 percent and 92 percent by 2020 and 2030, respectively.

By 2020, trucks and special-purpose automobiles will make up 78 percent and 15 percent. As many as 20,000 will be made for export while spare parts exporters are expected to bring home 4 billion USD at this time.

Support industry for automobile manufacturing will satisfy 30-40 percent of home demand. By 2025 and 2030, the figure will be 45 and 50 percent.

To achieve the goals, the government will make it easier for industry players to access preferential credit and incentives, especially manufacturers of eco-friendly automobiles.

It will also encourage the public use by offering the lowest taxes on 16-24 seat coaches.

Vehicles of nine seats and more will be subject to maximum taxes while models with an engine capacity of more than three litres will face high environment fees.-VNA