There are two clear investment tendencies in the automobile industry. First, becoming the leading assembling center in Southeast Asia, and second, buying technologies and making automobiles for export. Three Vietnamese companies The Q1 2019 report of the Vietnam Automobile Manufacturing Association (VAMA) showed that while the sales of domestically assembled cars decreased by 8 percent, value of imports soared by 230 percent compared with the same period last year. In the last two years, Vietnam’s automobile industry has witnessed big changes because of the ASEAN Trade in Goods Agreement (ATIGA). The tariff cut from 30 percent to 0 percent applied to ASEAN-originated products has attracted investors, who enjoy benefits from ATIGA. Vietnam is considered a potential market thanks to the modest ratio of 23 car owners per 1,000 people (the figures are 264 in Thailand and 400 in developed countries). Vietnam is considered a potential market thanks to the modest ratio of 23 car … [Read more...] about Two paths for Vietnam’s automobile industry
Instead of distributing Nissan products, Tan Chong Motor will assemble, import and distribute Chinese cars in the Vietnamese market. The distributor of Nissan cars, the Malaysia-based Tan Chong Motor, will stop distributing Nissan products in Vietnam in September. if the project can be implemented, Tan Chong Motor would have opportunities to cement their positions in Vietnam’s automobile industry. The two sides have signed an MOU to expand cooperation in assembling, importing and distributing Chinese vehicles in Vietnam. Kim Chi Vietnam’s automobile market to be flooded with zero-tariff ASEAN cars The car sales in Vietnam are forecast to reach 500,000 units per year in 2020 and 1 million per year by 2030, with a turnover of US$12 billion each year. Two paths for Vietnam's automobile industry There are two clear investment tendencies in the automobile industry. First, becoming the leading assembling center in Southeast Asia, and second, buying … [Read more...] about Will Nissan’s old distributor bring Chinese cars to Vietnam?
Prime Minister Nguyen Xuan Phuc (fourth, right), officials and members of the Catholic Bishops’ Conference of Vietnam pose for a photo at the meeting in Hanoi on November 18 (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc received a delegation of the Catholic Bishops’ Conference of Vietnam (CBCV) led by its President Nguyen Chi Linh in Hanoi on November 18. This followed the CBCV’s 14th congress in October, during which the conference elected its Standing Committee and heads of the subordinate committees for 2019-2022. PM Phuc congratulated his guests on the success of the congress, expressing his hope that the CBCV President and members of the Standing Committee will instruct priests, monks and followers of the Catholic Church in Vietnam to continue adhering to the State’s laws and actively engaging in national development and defence. As Christmas is nearing, he wished the archbishops and bishops in the CBCV Standing Committee a … [Read more...] about PM receives members of Catholic Bishops’ Conference of Vietnam
A Vietcombank office. The bank's stock were among the large-caps that fell on Monday. — Photo vietcombank.com.vn HÀ NỘI — Vietnamese shares slipped on Monday as investors continued seeking profits from previous gains made by large-caps. The benchmark VN-Index on the Hồ CHí Minh Stock Exchange dropped 0.70 per cent to close at 1,002.91points. Việt Nam’s benchmark index closed down 1.2 per cent last week. More than 184.3 million shares were traded on the southern bourse, worth VNĐ4.2 trillion (US$181.5 million). Declining stocks outnumbered gainers by 197 to 132, indicating relatively strong selling pressure. The stock market was under large-scale selling pressure and the VN-Index was pushed back near 1,000 points. The benchmark VN-Index lost in four of all five trading days last week after having approached the 1,025-point level on November 6. According to analysts, the 1,025-point zone would be a very … [Read more...] about Local stocks keep falling on profit earning
MWG warned shareholders that Bach Hoa Xanh may not break even within the year as targeted before Viet Capital Securities (VCSC) reported that Bach Hoa Xanh will postpone the target to break even that had been set for the end of this year. Bach Hoa Xanh set the goal to reach the break-even point which excluded the general and administration expenses (G&A) of its two recently new distribution centres in the South-Central Coast. Bach Hoa Xanh is currently present in three provinces in this region with a total of 15 stores. However, Bach Hoa Xanh needs to invest in advance in distribution centres to pave the path for further stores down the road. As a result, the cost of distribution centres over revenues (including the cost of distribution centre operations and the cost of transporting goods from distribution centres to stores) has increased to around 5.5 per cent in recent months compared to 4.5 -5.0 per cent as before. The average sales per store of Bach Hoa Xanh dropped to about … [Read more...] about MWG predicts Bach Hoa Xanh may break even only next year