Cars on display at the Vietnam Motor Show 2018 in HCM City in October (Photo: VNA)
Hanoi (VNA) – Vietnamimported about 11,000 cars worth 233 million USD in October, according toestimates by the General Statistics Office (GSO).
The figures represented an increase of 89 percent in volume and 50 percent invalue in comparison with the same period last year.
The recovery of auto imports last month was attributed mainly to the demand forcars at the end of the year.
The market has shown promising signs in recent times. At the Vietnam Motor Show2018, which was held in HCM City on October 24 with the participation of 15global auto brands showcasing 120 cars, 880 vehicles were sold in five days, ofwhich most new models were imported.
At the start of this year after the Government issued Decree 116 withconditions for production, assembly, import and business of automobile warrantyand maintenance services, auto imports dropped.
With supply falling, retail prices increased which hit purchasing power acrossthe market.
Consumer demand is currently high, especially after a long wait since lastyear, so the market for imported cars is expected to boom at the year-end.
The GSO report also showed that total cars imported from January to Octoberwere estimated at 51,295 units, worth nearly 1.16 billion USD, decreasing by33.8 per ent in volume and 32.1 percent in value.-VNA
Auto businesses are concerned about Vietnam’s future policy orientation with regard to the auto industry, which they think will affect their business strategy.
Vietnamese businesses imported nearly 10,000 completely built cars in August, up 50 percent compared with the previous month, according to the General Department of Vietnam Customs.
Vietnam imported 11,172 cars between in the first nine months of 2018, up 5,142 units from the same period last year, according to the General Department of Vietnam Customs.
The domestic automobile parts industry has failed to reach the set target despite support from the Government, said Nguyen Thi Tue Anh, deputy director of the Central Institute for Economic Management (CIEM).
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.
Cars on display at the Vietnam Motor Show 2018 in HCM City in October (Photo: VNA) 
