Sales of automobiles plunged 28 percent year-on-year to 131,248 units in the first seven months of this year, according to the Vietnam Automobile Manufacturers Association (VAMA).
Hanoi (VNA) -ꦗ Sales of automobiles plunged 28 percent year-on-year to131,248 units in the first seven months of this year, according to the VietnamAutomobile Manufacturers Association (VAMA).
Salesof all types fell, with passenger cars down 29 percent, commercial vehicles 23percent, and special-use vehicles 39 percent. TheJuly figure hit 24,065 units, up a mere 0.3 percent against June and down 13percent compared to July 2019. Thesale of domestically-assembled vehicles rose 2 percent month-on-month in July, to16,088 units, while imports were down 2 percent to 7,977 units. Thefigures, however, do not reflect overall consumption in the automobile market,as they exclude sales of manufacturers that are not VAMA members, such as Audi,Jaguar, Land Rover, Mercedes-Benz, Subaru, Volkswagen, Volvo, and Hyundai ThanhCong. HyundaiThanh Cong’s TC Motor sold 7,606 vehicles in July, up 35.5 percentmonth-on-month and taking the figure for the first seven months to 35,620. Meanwhile,some 2,210 VinFast automobiles were sold in July. With an average of 2,200vehicles being sold monthly, the local carmaker’s sales stand at around 15,270 forJanuary-July. Thecombined sales of VAMA members, TC Motor, and VinFast reached 33,885 in July, for182,138 in the first seven months./.
Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold 24,002 automobiles in June, up 26 percent compared to the previous month but down 13 percent year on year.
After much anticipation, the Government has issued Decree No 70 on reducing registration fees on domestically-manufactured and assembled motor cars. With the resultant 50% cut in fees, car-owners will save tens of millions or even hundreds of millions of Vietnam dong if they buy a car this year.
The Vietnam Motor Show 2020, scheduled for October 29 – November 1, will be cancelled due to the complicated developments of COVID-19, announced the Vietnam Automobile Manufacturers’ Association (VAMA) and the Vehicles Importers Vietnam Association (VIVA) on August 4.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative photo (Source: Toyota Motor Vietnam) 
