The Ministry of Industry and Trade is expected to submit to the Government an automobile industry development plan with solutions to supporting auto manufacturing projects in Vietnam.

Vietnam is an attractive market for the automobile industry, Malaysian Ambassador to Vietnam Dato Mohd Zamruni Khalid said at a workshop on business opportunities in automobile spare parts manufacturing between the two countries in Hanoi on April 18.

Many foreign automobile part manufacturers have recently started the construction of their plants in Vietnam, which is in line with the government’s policies on encouraging investment in the local support industries.

Vietnamese automobile firms can gain a competitive edge over their rivals in ASEAN if the domestic supporting industry uses more locally-produced parts, heard a conference recently held in Hanoi by the Central Institute for Economic Management (CIEM).

VOV.VN - Vietnam has plenty of potential huge opportunities for the development of its automobile industry if the country takes full advantage of Industry 4.0, automation and cloud technologies used in manufacturing.

Vietnam’s policy on tightening control over import and decreased domestic consumption as well as exports in the Republic of Korea (RoK) have prompted Korean investors to set their car part production bases in Vietnam.

Vietnam has been building up its automobile industry for the last 20 years, but the number of automobiles assembled in Vietnam is far below that of Thailand, Indonesia, Malaysia and the Philippines.

Increasing the value of domestic production and promoting the automobile supporting industry must not depend on foreign direct investment (FDI) firms.

Strong growth in industrial production was the main motive for industrial expansion in 2017, Minister of Industry and Trade Tran Tuan Anh said at a conference in Hanoi on January 15.

Toyota Motor Vietnam (TMV) stepped up its operations to adapt to the rising car imports in Vietnam on the back of the tariff reductions towards the ASEAN next year.

Though appreciating Japanese support to Vietnam’s industries, economists say that Japanese automobile manufacturers’ claims for investment incentives are unreasonable.

Vietnamese policymakers are looking at ways to safeguard the domestic automobile industry against foreign rivals, based on an official document released by the government office.

Thirteen car manufacturers with the latest models and technologies of various categories, from private cars to commercial vehicles, will be showcased at the Vietnam Motor Show (VMS) 2016.

VOV.VN - Vietnam has always created favourable conditions and opportunities for Japanese investors to do business in the country.

The government of Vietnam does not intend to give up the dream of developing an automobile industry, even though it has failed to do so in the last two decades.

The Formosa group of Taiwan (China) is expected to seal an investment deal with the Japanese-based JFE Steel Corporation in August to jointly carry out its steel complex in central Ha Tinh province’s Vung Ang Economic Zone.

Prime Minister Nguyen Tan Dung has asked the Ministry of Finance and other relevant ministries to review tax policies and fix a new import tax rate for high-powered cars.

Vietnamese people have shown that they favor imported cars over locally assembled vehicles, as the debate about whether the local automobile industry can withstand a possible collapse after 2018 has not ended.

April was a positive month for Vietnamese auto sales, though carmakers have claimed difficulties conducting business in the country's unstable and undevel-oped automobile industry.

The Vietnam's TMT Motor Corporation will become the distributor of TATA Motors Limited—the largest manufacturer in the Indian automobile industry, as stipulated in an agreement on car distribution and supply and technology transfer signed in Hanoi on May 11.