Chinese cars will flood the Vietnamese market, both CBU and domestically assembled products, soon after the epidemic ends.
In the first half of the year, the number of cars imported to Vietnam increased by 500 percent, while some models saw a sharp increase of 650 percent compared with the same period last year.
The government of Vietnam is facilitating the Russian manufacturing of transport vehicles with engines made in Vietnam.
Citing local production protection, the Ministry of Finance (MOF) wants to ease the import tariffs on automobile parts. However, the move could 'fatten’ foreign invested enterprises (FIEs) only, while local manufacturers will not see benefits.