Local auto maker posts record revenue of over 3 billion USD
Truong Hai Auto Corporation (Thaco) posted a record revenue of 65.8 trillion VND (3 billion USD) in 2016, a growth of 44 percent against the previous year.
Hanoi (VNA) – Truong Hai Auto Corporation (Thaco) posted a recordrevenue of 65.8 trillion VND (3 billion USD) in 2016, a growth of 44 percent againstthe previous year.
Vietnam’s leading auto manufacturer on April 13 revealed its business resultsin 2016 and development orientations for this year.
Thanks to its efforts to raise locally made contents and the Government’ssupport, the company enjoyed a post-tax profit reached nearly 7.9 trillion VND(348 million USD).
It also contributed 18 trillion VND (793 million USD) to the State budget, anincrease of 4.2 trillion VND over 2015.
Last year, Thaco sold 110,548 vehicles, up 37 percent against 2015, accounting for41.5 percent of the Vietnam Automobile Manufacturers’ Association (VAMA)members’ sales.
Consting of Thaco KIA, Thaco Bus, Thaco Truck, VinaMazda and Peugeot, thecompany is now leading the market with 32 percent of the share.-VNA
Truong Hai Automobile Company (Thaco) rolled out the locally assembled Kia Sedona minivan at Chu Lai-Truong Hai Complex in the central coastal province of Quang Nam on October 29.
Despite Government efforts, domestic auto production has not yet satisfied demand. Pham Anh Tuan, Deputy Director of the Department of Heavy Industry, talks about domestic automaking prospects.
Total automobile sales in February fell 13 percent from a month earlier to 17,621 units, according to Vietnam Automobile Manufacturers’ Assocation (VAMA).
Truong Hai Auto Corporation (Thaco) will pour nearly 3 billion USD into the Chu Lai Open Economic Zone in the central province of Quang Nam in the 2017-2021 period, lifting its total investment in the zone to 6 billion USD.
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 image (Source: VNA) 
