Thailand has continued to hold a large share of Vietnam's car imports according to initial statistics of the General Department of Vietnam Customs.

More and more cheap cars will flood the Vietnamese market in upcoming months as automobile manufacturers in Thailand and Indonesia have urged their governments to apply measures to boost car exports.

Vietnam still has to import car parts for domestic assembling. As a result, the production cost is high and domestically made products remain less competitive than imports.

This resulted in Vietnam importing an average of 9,230 cars per month and over 300 cars per day, and car imports of nearly US$1.75 billion during the period, up 250% year-on-year.

Experts think the plan to spend $4.3 billion to develop the automobile industry will be in vain.

Comprehensive measures are needed to save the sugar industry.

Asked about the import tariff on luxury cars from Europe after the EVFTA takes effect, the Ministry of Industry and Trade (MOIT) said the competitiveness of EU sourced cars would improve.

The sugar industry is experiencing stormy days as prices have dropped dramatically. However, some companies are thriving and plan to ‘swallow’ their rivals.

Sugar companies are in such danger that the Ministry of Agriculture & Rural Development (MARD) on April 3 had to organize a meeting with the sugar association to discuss ways to rescue them.

After a period of focusing on importing cars to sell domestically, foreign invested automobile manufacturers have returned to their initial work – assembling cars domestically.

Domestic automobile joint ventures are focusing on importing cars for local sale rather than manufacturing, raising concern about the loss of revenue to local budgets.

VietNamNet Bridge - Brand new cars are being sold at hundreds of millions of dong lower than initial prices, while used cars remain unsold. 

VietNamNet Bridge - For most Vietnamese consumers, a house and car are two of the most valuable assets.

The Ministry of Industry and Trade has admitted that the plan to develop an automobile industry of Vietnam has failed, but it still insists on protecting domestic assembling enterprises which work for foreign invested enterprises.

Vietnamese auto manufacturers are trying to increase the localization ratios in their products in order to enjoy preferential tariffs when exporting their cars to ASEAN countries.

VietNamNet Bridge - Many Vietnamese plastics firms have fallen into foreign hands, while others are in a state of anxious suspense because they may be swallowed up one day. 

Contrary to all predictions, automobile manufacturers have set modest targets for this year’s business plans. After a two-year boom, the automobile market is expected to be more quiet in 2017.

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

VietNamnet Bridge -  Though the sugar industry enjoys benefits from protectionism, manufacturers are still complaining that business is tough because of smuggling.