Industry Agency, Toyota Vietnam team up to assist firms in automobile supporting industry
The Industry Agency under the Ministry of Industry and Trade and Toyota Motor Vietnam signed on July 4 a memorandum of understanding on a cooperation project to help domestic businesses in the automobile supporting industry improve their capacity and enhance the connectivity between them and car assemblers.
The signing ceremony in Hanoi on July 4 (Photo: VNA)
Hanoi (VNA)♑ - The Industry Agency under the Ministry of Industry and Trade and Toyota Motor Vietnam signed on July 4 a memorandum of understanding on a cooperation project to help domestic businesses in the automobile supporting industry improve their capacity and enhance the connectivity between them and car assemblers.
This is the fourth year the two sides have inked a cooperation deal to assist domestic firms so as to raise the rate of locally made components in automobiles.
Addressing the signing ceremony, Deputy Minister of Industry and Trade Do Thang Hai said that such cooperation programmes have received positive feedback from domestic businesses and also attracted support from other international enterprises.
Tien Quoc Hao, CEO of Asia Region for Toyota Motor Corporation, said that his company is well aware of the supporting industry's importance, so it hopes to actively contribute to the development of the automobile and automobile supporting industries of Vietnam.
꧟ The Japanese-invested Toyota Vietnam said that the cooperation with the Industry Agency is expected to assist Vietnamese businesses in the supporting industry to improve their capacity and competitiveness and raise the domestic added value, thereby helping local companies gain a firm foothold in global production chains./.
Vietnam posted an all-time high import of automobiles with 173,467 units valued at 3.84 billion USD last year, surpassing the previous record of about 160,000 units in 2021, reported the General Department of Vietnam Customs.
The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered to have a positive effect on the auto industry in the context of the automobile market facing many difficulties.
Toyota Vietnam sold 3,902 passenger cars, including the luxury brand of Lexus, in May, topping the market segment, the joint venture reported on June 13.
Automechanika Ho Chi Minh City – a leading regional trade fair for automotive services - kicked off on June 23 in Ho Chi Minh City with the participation of over 460 exhibitors from 20 countries and territories.
The Ministry of Industry and Trade (MoIT) will create the best possible conditions for Japanese automobile manufacturer Honda to operate in the country, Deputy Minister Do Thang Hai affirmed on June 29.
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.
The signing ceremony in Hanoi on July 4 (Photo: VNA) 
