Action plan adopted to actualise auto industry development plan. (Photo: VNA)
The Prime Minister has issued an action plan to realise the automotive industry development as part of the Vietnam Industrialisation Strategy (VIS).
The VIS was laid down in the Vietnam-Japan cooperation framework through 2020 and a vision towards 2030.
The plan set to maintain domestic manufacturing and assembling of automobiles and spare parts, increase “healthy” auto demand with regard to infrastructure development and environmental impacts, develop supporting industries, cut down costs of production and logistics and take part in regional and global production networks by 2020.
It also involves new adjustments of auto taxes and fees and simplified import procedures for automotive components from overseas suppliers.
Import taxes will be cut on spare parts that are unable to be manufactured locally.
Auto and automobile components will be added to the list of key mechanical products encouraged for development while businesses in automotive supporting industries can access soft loans from the state fund for development of small- and medium-sized enterprises (SMEs).
The action plan also looks to develop special industrial clusters for the auto industry.
Universities and colleges are encouraged to re-design curriculum aligning with business demand regarding human resources development.
Furthermore, preferential policies will be offered to Japanese firms in Vietnam that provide apprenticeship programmes for Vietnamese trainees.
Vietnam’s automobile sales in September amounted to 21,366, up 32 percent from the same period last year, according to the Vietnam Automobile Manufacturers Association (VAMA).
The figure marked the 30th consecutive upward trending month for the market, which is forecasted to continue to rise in the last quarter of this year thanks to a number of incentives and automobile exhibition events.
By the end of September, total automobile sales had reached 163,443, up 53 percent from the same period last year.
Within the first nine months of this year, 83,000 imported cars had been sold worth nearly 2.1 trillion VND (93.3 million USD) were imported, up 88 percent in volume and 113 percent in value year-on-year.-VNA
Cars with various engine displacement values are expected to enjoy a rebate in the special consumption tax in Vietnam as of July 1, 2016, according to a revised draft on Tax Law.
The Thai Automotive Industry Association (TAIA) has been selected to host the International Organisation of Motor Vehicle Manufacturers (OICA) meeting on October 21-23.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Action plan adopted to actualise auto industry development plan. (Photo: VNA)
