A Thaco Mazda factory operated by the Truong Hai Automobile Joint Stock Company (Thaco). (Source: VNA)
Hanoi (VNS/VNA) - The automobilemarket is expected to change dramatically from now to the end of this year asthe production of cars in Vietnam starts to recover.
According to the Ministry of Industry andTrade (MoIT), the volume of locally-assembled cars in July was estimated at23,200 units, up 31.4 percent compared with the same period last year.
From January-July, automobile productionreached about 140,800 units, increasing by 9.5 percent on-year.
According to the Industrial Policies StrategiesInstitute (IPSI) under the Ministry of Trade and Industry, domestic productionis expected account for an average of 18.5 percent per annum from 2018-25, butthen drop off to 13.8 percent per year from 2025-35. Vehicle production ispredicted to reach 531,585 units by 2025 and 1.77 million units by 2035.
In terms of imports, after meeting therequirements of Government Decree 116/2017/ND-CP, which stipulates theconditions for production, assembly, import and business of automobilewarranties and maintenance services issued on October 17 last year, the secondhalf of this year will likely rise sharply over the first half of this year.
Statistics from the Vietnam GeneralDepartment of Customs showed that Vietnam imported nearly 5,700 units in July,marking the highest volume in month since early this year. Most cars wereimported from Thailand, Indonesia and the Republic of Korea.
Vietnam also imported auto parts fromJapan, the Republic of Korea, Thailand, Indonesia and India.-VNS/VNA
Although many carmakers in Vietnam have applied discounts and promotions, car sales in the first eight months of the year dipped 6 percent year-on-year to 177,000 units, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
Automobile traders are suffering tough times due to a slide in prices and sales, though the used-car market has been vibrant even during the seventh lunar month called Thang Co hon (Month of lonely spirits), more than 30 units sold per day.
The Vietnam Automobile Manufacturers’ Association on October 10 reported that automobile sales in September drop 20 percent compared to the same period last year and 4 percent over the previous month.
Auto businesses are concerned about Vietnam’s future policy orientation with regard to the auto industry, which they think will affect their business strategy.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
A Thaco Mazda factory operated by the Truong Hai Automobile Joint Stock Company (Thaco). (Source: VNA) 
