Vietnam spent 2.65 billion USD on importing 111,278 cars in the first 11 months of this year, down 26.6% in volume and 22% in value annually, reported the General Department of Vietnam Customs.
Hanoi (VNA) - Vietnam spent 2.65billion USD on importing 111,278 cars in the first 11 months of this year, down26.6% in volume and 22% in value annually, reported the General Department of VietnamCustoms.
Accordingly,Thailand, Indonesia, and China were the biggest car suppliers to Vietnam.Specifically, Thailand took the lead with 50,144 units, equivalent to over 1.07billion USD, down 18% in volume and 22% decrease in value year on year.
Insecond position was Indonesia with 40,474 units worth over 574 million USD,showing an annual decrease of 36.7% in volume and 38% in value.
China was the third largest car supplier to Vietnam during theperiod, with 9,843 units valued at over 360 million USD, representing a drop of39% in volume and a 46% in value compared to the same period last year.
Additionally, Vietnam also imported completely built-up carsfrom the US, Germany, Japan, the Republic of Korea, France, and others.
In November alone, thenumber of completely built-up cars imported into Vietnam reached 7,508, equivalentto 192.81 million USD, falling 21.9% and 24.3% in volume and valuemonth-on-month, respectively.
Accordingto the Vietnam Automobile Manufacturers’ Association (VAMA), the total sales ofVAMA member units reached 263,249 as of the late November, down 29% annually.Of them, passenger, commercial and special-use vehicles down 31%, 16% and 57%,respectively.
✱ Thisyear, the Vietnamese automobile market is forecast to fall short of the volumeof over 404,000 sold in 2022, mostly due to current challenging conditions,leading consumers tightening their belts./.
After sales grew 13% in September, the car market in Vietnam was stagnant in October even when producers offered discounts and promotions to stimulate demand.
The development strategy for Vietnam’s automobile industry to 2035, approved by the Prime Minister on July 16, 2014, identified this industry as an important driver of national industrialisation and modernisation that needs to be facilitated by stable, consistent, and long-term policies.
The domestic auto market in Vietnam is experiencing a decline in car sales due to sluggish customer demand compared to previous years, despite price reductions and promotions offered by car manufacturers during the peak shopping season, according to local car experts.
November was the second consecutive month that the auto market went sideways, reported the Vietnam Automobile Manufacturers’ Association (VAMA) on December 12.
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 (Photo: VNA) 
