The proportion of automobile parts made in Vietnam remains modest because of problems in production costs and quality. According to Bui Thanh Nam, general director of Ha Noi Plastics JSC, the company is now a reliable partner of Honda, Toyota, Piaggio, VMEP, Panasonic and LG. In 2010, Ha Noi Plastics could only make two components for Toyota. But in 2018, it could make 30 components and the figure increased by 14 in 2019. The company has found new clients, including VinFast, Toyota Boshoku, Ler, Visteon and Hyundai.The last chance The proportion of automobile parts made in Vietnam remains modest because of problems in production costs and quality. According to Nguyen Trung Hieu from VAMA, it is now an important moment for Vietnam as it has the last opportunity to develop an automobile industry of its own. After 8-10 years, under the FTAs of which Vietnam is a member, the import tariff will be cut to zero percent. Kim Chi To develop Vietnam's supporting industries The … [Read more...] about VN automobile support-industry growth remains modest
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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
Twenty years ago, five large automobile manufacturers asked Vietnam to open the automobile market. But the proposal was refused. The report from the Ministry of Industry and Trade (MOIT) to National Assembly Deputies showed that Vietnam’s automobile industry has been growing rapidly over the last two years. In 2017, Vietnam assembled 258,000 cars and the output of 250,000 products was maintained in 2018. About the achievements of the automobile industry, the report said many products have been exported to Laos, Cambodia, Myanmar and Central America. It has contributed billions of dollars to the state budget and generated 120,000 jobs. However, the ministry admitted too many problems in the industry, including the low locally made content ratio in products. The plan on raising the localization ratio for car models with less than 9 seats has failed. Under the plan, the ratio must be 40 percent by 2005 and 60 percent by 2010. However, the ratio is now 7-10 percent, far lower than … [Read more...] about Thai manufactured 3 million cars in 20 years, Vietnam assembled 250,000
Vietnam has increased imports of chicken from the US which have the surprisingly low price of VND18,000 per kilogram. According to the General Department of Customs (GDC), by the end of June, Vietnam had imported 62,400 tons of chicken from the US, worth $48.6 million. As such, the import price is dirt cheap, just VND18,000 per kilogram. The retail price at traditional market is VND80,000 per kilogram. Vietnam has increased imports of chicken from the US which have the surprisingly low price of VND18,000 per kilogram. In the US, chicken legs, wings and thighs are used to process bone powder for animal feed. However, these products are favored in Vietnam and are imported as food for humans. Nguyen Tat Thang, secretary general of the Vietnam Livestock Association, agreed with Duong, saying that in western countries, including the US, chicken breast is the most favored and the most expensive, while thighs, legs and wings are not. Thanh Lich Imported pork dirt cheap, domestic … [Read more...] about US chicken dirt-cheap in Vietnam
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?