Mazda celebrates 50 million vehicles made in japan

Vietnam aims to obtain a GDP growth rate of 6.5 percent this year and average income per capita of $3,700. With rising incomes, car sales are expected to boom. One report said that 420,000 cars of different kinds were sold in 2020, including 400,000 cars with 16 seats or less, the same as 2019. Vietnam’s car market did not grow in 2020, but did not decrease by 15 percent as previously predicted by VAMA. Car sales dropped sharply in the first half of 2020 when the Covid-19 pandemic broke out. However, the sales went better in the last months of the year thanks to effective control of the pandemic, a 50 percent vehicle registration tax reduction policy, and car price decreases. While some enterprises reported minus growth rates, others still had positive growth rates. VinFast, a newcomer, with 30,000 cars sold in 2020, has successfully taken away market share once held by other manufacturers. SSI has estimated that the automobile market will see a growth rate of 16.3 … [Read more...] about Vietnam enters car consumption boom period

HCM City eyes 10 percent growth in export in 2021 Shrimps processed for export Ho Chi Minh City’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the … [Read more...] about VIETNAM BUSINESS NEWS FEB. 25

The fully-assembled vehicles mainly came from Thailand (4,341 units), China (1,463 units), and Indonesia (1,437), which accounted for 87 percent of the total. In January, 5,203 nine-seat or less CBU units worth nearly US$102 million were imported, accounting for 62.4 percent and down 27.4 percent month-on-month. Meanwhile, automobile spare parts and accessories worth US$385 million were imported, compared to $527 million in December; a fall of 27 percent. According to the General Department of Vietnam Customs, 98 percent of total value came from the Republic of Korea ($114 million ), China ($73.3 million), Thailand ($59.4 million ), Japan ($58 million ), India ($23.3 million ), and Indonesia ($15 million). … [Read more...] about Fall in January imports of completely-built-up motor cars

The Hanoitimes - The city will accelerate the establishment of an e-government model to create more convenience for the business community in realizing administrative procedures. Hanoi targets to attract US$30-40 billion in FDI in the 2021-25 period, in which the city is expected to disburse US$20-30 billion, according to the Hanoi Promotion Agency (HPI). Secretary of the Hanoi Party Committee Vuong Dinh Hue at the "Hanoi 2020 - Investment & Development Cooperation". Photo: Pham Hung. The city expects the rate of enterprises using modern technologies and corporate governance model to increase by 50% against  2018, along with an increase of localization rate to over 30% by 2025. While setting a goal of attracting high amount of FDI capital, HPA Director Nguyen Gia Phuong said the city would stay selective in attracting the foreign investment capital. “Hanoi aims to attract high quality FDI from South Korea, Singapore, Taiwan, the US, Europe, Australia … [Read more...] about Hanoi remains favorite destination for FDI amid Covid-19

Track 4A Power Plant runs with the newest GE combined-cycle gas power plant The plant was safely constructed with the Taiwanese EPC partner, CTCI, and consists of two generating blocks, each equipped with the highly efficient gas turbine, a steam turbine, a generator, and a Heat Recovery Steam Generator (HRSG) from GE. In addition, under the terms of a 21-year agreement, GE will provide services and digital solutions to improve asset visibility, reliability, and availability of the Track 4A plant – which will produce the equivalent electricity needed to power approximately three million homes in Malaysia. “We have a longstanding relationship with GE and we trust its HA technology will help us meet the increasing power demand and contribute to long-term energy security needs in Malaysia,” said Dato’ Haji Nor Azman bin Mufti, chairman of SPG.  “We are proud to see how GE has adapted with hard work and efficiency to achieve the start of their first ever commercial operation for the … [Read more...] about GE announces first commercial operation of 9HA.02 technology in Malaysia