Update news automobile industry
VietNamNet Bridge - Only foreign-invested automobile manufacturers can benefit from the current investment incentives, while Vietnamese automobile cannot grow, experts say.
VietNamNet Bridge - The government has once again offered investment incentives to automobile manufacturers, but analysts still doubt Vietnam can build its own automobile industry.
VietNamNet Bridge - Russia once helped Vietnam manufacture weapons and now may transfer automobile technology to Vietnam, experts say.
VietNamNet Bridge - While complaining about difficulties, foreign automobile manufacturers still could reap fruit in 2015. Despite big problems, they still want to cooperate with Vietnam’s automobile industry.
VietNamNet Bridge - If Russia and Belarus focus on making low-cost trucks, they will find firm positions in the Vietnamese market.
Experts said that Vietnam can take full advantage of Japanese auto manufacturers’ support and Vietnamese businesses could, as a result, become second-class car part suppliers to Toyota and other foreign-invested enterprises (FIEs).
VietNamNet Bridge - The Ministry of Finance (MOF) believes that policies on giving preferences to the automobile industry must be removed because they did not help develop the industry in the last two decades.
Vietnam has never given up its automobile dream, even though it has failed to implement an auto industry strategy in the last two decades.
VietNamNet Bridge - Some foreign investors have warned that they may leave Vietnam because of unfavorable conditions to do business. However, Vietnamese businesses and analysts believe they will stay in the country.
VietNamNet Bridge - The Trans Pacific Partnership Agreement (TPP) brings a ray of hope to the Vietnam’s automobile industry.
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.
While experts remain pessimistic about Vietnam’s automobile industry, pointing out that its great efforts in the last several decades have been in vain, the Ministry of Finance (MOF) still puts high hopes on the industry’s development.
VietNamNet Bridge - Car importers have unanimously opposed the Ministry of Finance’s (MOF) plan to apply a new luxury tax method.
VietNamNet Bridge - Low-cost cars with low cylinder capacity are expected to flow to Vietnam thanks to an advantageous luxury tax.
VietNamNet Bridge - The Ministry of Industry and Trade (MOIT) will offer investment incentives to auto manufacturers in an effort to continue the development of the country's automobile industry.
VietNamNet Bridge - The government of Vietnam does not intend to give up the dream of developing an automobile industry, even though it has failed to do so in the last two decades.
The Ministry of Finance (MOF) has decided to change the method of calculating a luxury tax on car imports, striving to support the development of the domestic automobile industry and increase state budget revenue from tax collection.