VOV.VN - Vietnam and Thai leaders met on March 17 in Ho Chi Minh City for talks seeking to shift their economies into more collaboration in sophisticated light manufacturing, such as electronics and auto-parts.
Almost a year after Hanoi authorities said they were determined to eradicate a market selling mostly stolen automotive parts, nothing much has changed.
Automobile makers in Vietnam cannot take advantage of the booming demand for cars of the people due to a sore lack of parts suppliers.
Marquardt Group of Germany expects to invest US$35-50 million to build an auto parts manufacturing factory in central Danang City.
Saigon International Autotech & Accessories Show 2016 has kicked off in HCMC’s District 7, with an upsurge in the presence of Taiwanese auto parts companies with plans to enter the domestic market.
The Association of Southeast Asian Nations, better known as ASEAN, is planning to eliminate technical trade barriers in the automotive sector in a bid to make it easier and less costly to export components within the region, The Brunei Times reported.
Thailand has become Vietnam’s leading automobile exporter in the first quarter of this year, with a volume of more than 7,800 units, a 64.5% increase compared with the same period last year.
The Ministry of Finance has thrown its weight behind a removal of many incentives for automakers as a full-fledged auto industry has remained far-fetched despite all sorts of policy incentives over the past 20 years.
Vietnam will participate in the Thailand Auto Parts and Accessories (TAPA) 2010 trade fair which will be held at the Bangkok International Trade and Exhibition Centre from April 28 to May 2.