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Vietnam AutoExpo 2014 gets underway

The 11 th International Exhibition on Automobile and Supporting Industries (Vietnam AutoExpo 2014) kicked off in Hanoi on June 19.
The 11 th International Exhibition on Automobile and SupportingIndustries (Vietnam AutoExpo 2014) kicked off in Hanoi on June 19.

Addressing the opening ceremony, Deputy Minister of Industry andTrade Ho Thi Kim Thoa highly valued efforts by auto manufacturers tomaintain production and expand the market.

Thoasaid that in the face of challenges to the automotive industry, thesuccess of the exhibition will help support enterprises, stimulateconsumption demand, and create new opportunities for cooperation andtechnology transfer.

With an area of nearly10,000sq.m, the four-day exhibition is displaying different types ofvehicles manufactured by the big names from Vietnam, Japan, China,India, Thailand, Singapore, Malaysia and the Republic of Korea,including Vinasuki, Huyndai and Honda.

Electric bike and motorcycle manufacturers and spare parts businesses are also showing their products at the event.

According to the ministry, Vietnam is the fourth largest market formotorbikes, following China, India and Indonesia. By 2020, the number ofmotorbikes in Vietnam is predicted to reach 33.5 million.

In 2015, between 166,000-235,000 automobiles are expected to be sold in the Vietnamese market.-VNA

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A motorbike production line of Honda Vietnam — a Japanese company located in Phu Tho province. (Photo: VNA)

♋ Phu Tho emerges as FDI magnet following mergence

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.
Infraction levels will correspond to fines of 1-80 million VND, depending on the nature and number of invoicing violations. (Photo: vietnamfinance.vn)

♎ Maximum fine of 3,000 USD proposed for violating invoice regulations

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.
At the strategic partnership signing ceremony between Sun PhuQuoc Airways and Amadeus. (Photo: Sun Group)

♑ Sun PhuQuoc Airways enters strategic partnership with Amadeus to build a five-star aviation technology ecosystem

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.
A local resident makes a bank transfer using the Momo app. (Photo: VNA)

🍒 Banks accelerate digitalisation, non-cash payments

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.
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