Increasing localisation of auto industry helps support industries grow stronger
The strong growth in automobile sales and the increase of locally-assembled auto models are a lever to further promote Vietnam's auto industry, helping it gradually engage in supply chains of leading automobile manufacturers.
Hanoi (VNA) – The strong growth in automobile sales and theincrease of locally-assembled auto models are a lever to further promoteVietnam's auto industry, helping it gradually engage in supply chains of leadingautomobile manufacturers.
Many automobile businesses have still persisted in developing the autosupporting industry in order to be proactive in supply, and reduce productioncosts while still ensuring product quality, significantly contributing to thenation’s socio-economic development.
Toyota Motor Vietnam (TMV) officially put a manufacturing lineof two models Veloz Cross and Avanza Premio into operation in late last year,aiming to stop the import of complete built-up units of these models from Indonesia.
Previously, between March – November 2022, as many as 3,248 units of AvanzaPremio and 12,876 units of Veloz Cross were imported from Indonesia for sale inVietnam.
As a result, 273 details of the two models aremanufactured by 30 suppliers in Vietnam. The TMV said that this is a crucialmilestone, strongly affirming commitments to promoting the localisation rate inthe auto industry, thus contributing to the country’s development.
The localisation rate of components and spare parts of the TMV reachedover 40%, doubling that of this kind of the entire auto industry.
The automobile maker has focused on classifying and developing a list of potential suppliersof spare parts, and designed appropriate plans to help them improve their managementand production capacity. Its support is expected to help local suppliers graduallyengage in Toyota’s global value chain./.
The total automobile sales in the first five months of 2019 surged by 22 percent year-on-year to 126,646 units, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on June 11.
Vietnamese firms in the mechanical engineering outsourcing sector have low competitiveness when joining global supply chains largely due to their small scale, technological shortages, and low productivity.
Vingroup has announced it has completed the design and is preparing to introduce to the market two invasive ventilator models which adhere strictly to international standards while achieving a significantly high localisation rate in design and manufacture.
Automobile sales in Vietnam posted a month-on-month increase of 20% and a year-on-year surge of 88% in July, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on August 11.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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.
Illustrative image (Photo: VNA) 
