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The RoK’s largest trade surplus in 2022 was with Vietnam, at 34.25 billion USD. It was the first year in which Vietnam ranked No. 1 in this regard, according to the RoK’s Ministry of Trade, Industry and Energy cited by the Joongang Ilbo newspaper.
The main exports to Vietnam include semiconductors, flat screen monitors, and petroleum products. Besides, food, fashion items, and beauty products also greatly contributed to the RoK’s shipments to the Southeast Asian country, according to the Korea International Trade Association (KITA) and relevant industries.
Fast food chain Lotteria is running 270 stores in Vietnam, ranking first among similar chains here. Its 2022 revenue topped 100 billion KRW (80.5 million USD), surpassing the figure in 2019 before the COVID-19 pandemic broke out.
With 38 stores, Tous les Jours of CJ Foodville is also holding the top position among the bakery chains in Vietnam.
In 2021, soju products of Hite Jinro also dominated the local distilled alcoholic beverage market. The third Jinro BBQ restaurant opened in Hanoi’s Cau Giay district in February 2022.
Lat year, Orion Vina, a subsidiary of Orion in Vietnam, earned over 400 billion KRW in annual revenue for the first time since its establishment. Compared to Vietnam’s confectionary market worth 130 billion KRW, that figure indicates Orion is currently dominating the market.
Korean cosmetic products are also popular in Vietnam. Local media reported that such products from the RoK hold the biggest market share, 30%, compared to similar items from the EU (23%) and Japan (17%), which also have many high-end brands.
Data from KITA show that thanks to Hallyu (Korean Wave), the RoK’s cosmetics exports to Vietnam reached 230 million USD in 2020.
Likewise, Korean fashion is also a magnet in the Vietnamese market. Hazzys, a brand of fashion company LF, is operating seven stores in Vietnam and recorded its 2022 revenue doubling that in 2021. Fashion and retail firm E-Land also witnessed last year’s sales here rising over 10%.
In May and June 2022, the KITA branch in Ho Chi Minh City interviewed 956 Vietnamese adults about Korean products they planned to buy. The items grabbing their attention included cosmetics (37.9%), food (27.7%), and electronics (15.1%). Asked about potential Koream products in the future, they selected cosmetics (50.7%), electronics (38.9%), food (32.2%), and healthy food (23.3%).
KITA said with a population of 100 million and good economic growth, Vietnam is not only a production hub replacing China but also one of the fastest recovering consumption markets after the COVID-19 pandemic.
Measures to help businesses overcome challenges in 2023
The HCM City Union of Business Associations has a number of measures in place to help the business community overcome challenges this year.
Nguyen Ngoc Hoa, its chairman, told a meeting held on Friday (January 6) to review last year’s performance that it would also work with the city administration to improve the investment environment, promote economic development and ensure social security.
This year HUBA would focus on organising programmes such as the 2023 HCM City Economic Forum for voting for the city’s ‘Typical Products and Services’ and the Green Business Awards.
It would also continue with its regular activities such as ‘Business Cafe’, trade promotions in both the domestic and overseas markets, trade fairs to showcase Vietnamese goods, and attracting membership and increase their connectivity.
Due to the uncertain global social-economic situation, businesses were expected to face difficulties this year, and HUBA would continue to work with the city to advocate sound policies and act as a bridge between the administration and businesses to resolve difficulties faced by the latter.
VN remained among world’s top FDI destinations in 2022
Viet Nam remained an attractive destination for foreign investment last year with FDI flow pouring into the country uninterrupted despite a global economic slowdown, according to the Ministry of Finance.
In a recent report by the ministry, the total asset value of foreign firms in the country has increased to over VND8,857 trillion (US$377 billion), a 13.1 per cent increase from the previous year. During the same period of time, the FDI sector reported an after-tax profit of nearly VND9,455 trillion, an 8.8 per increase year-to-year.
The sector’s net income in 2021 was reported at over VND8,567 trillion, a 19.3 per cent increase over the previous year with an after-tax profit of over VND8,358 trillion or a 29.6 per cent increase over 2020.
FDI’s contribution to the state’s budget continued to grow in size from VND164 trillion in 2020 to VND180 trillion in 2021.
Major growth drivers in the sector included manufacturing, processing (VND621.5 trillion), finance, banking and insurance (VND133.3 trillion), energy (VND68.3 trillion), wholesales and retails (VND58.1 trillion) and logistics (VND35.8 trillion).
Notably, according to the ministry’s report, FDI assets in manufacturing and processing have increased at a pace 4.5 times faster than finance, banking and insurance and 9 times faster than other industries.
Logistics led the pack in growth with an annual rate of 34.9 per cent, followed by financial services at 30.6 per cent and energy at 23.8 per cent.
On the other hand, there were still a number of FDI-dominated industries that reported losses.
By the end of last year, nearly 14,300, or 55 per cent of all FDI firms operating in Viet Nam, still reported losses, 11 per cent higher than the same figure in 2020 with a total amount of VND168.3 trillion. Cumulative losses were even higher with more than 16,250 FDI firms reporting losses up to VND706.1 trillion.
Remittances boost HCM City growth
Ho Chi Minh City received some 6.8 billion USD in remittances last year, only a slight decrease compared to 2021 and accounting for 48% of foreign currency deposits at its credit institutions.
This cash flow has contributed to generating foreign currency revenue, stabilising exchange rates, and spurring economic growth.
According to the State Commission for Overseas Vietnamese Affairs (SCOV), there are currently more than 5.3 million Vietnamese living and working in 130 countries and territories across the globe, of this group more than 2 million are from or have connections to HCM City. The southern economic hub also has more than 3,000 businesses invested by expatriates, whose combined capital totals 45 trillion VND (1.9 billion USD).
Nearly 900 million USD in FDI registered in Bac Giang
Nearly 900 million USD in foreign direct investment (FDI) has been registered in the northern province of Bac Giang since the beginning of 2023.
Most recently, China’s Yadea Group will invest 100 million USD in a factory to manufacture and assemble electric motorcycles with an expected capacity of about 2 million vehicles per year in Tan Hung Industrial Park, Lang Giang district.
Covering an area of 23.2 ha, the project will be implemented in the second quarter of 2023.
At a ceremony on January 7 to hand over an MoU on investment to Yadea and Lideco 1, the investor of Tan Hung IP, Chairman of Bac Giang’s People’s Committee Le Anh Duong said the province will create the most favourable conditions for foreign investors, who have made great contributions to the socio-economic development of Bac Giang province.
Earlier on January 2, Bac Giang province granted an investment certificate to Singapore’s Ingrasys Pte. Ltd, the investor of the Fulian precision technology factory project and signed an MoU with Chinese investor Hainan Longi Green Energy Technology Co Ltd on a project to produce solar panels.
Both projects will be conducted from the first quarter of 2023, with combined registered capital of about 761 million USD.
Bac Giang currently is home to more than 480 FDI projects, with total investment capital of over 8.2 billion USD. The province posted an all-time high economic growth rate of 19.3% in 2022.
Noi Bai airport ready for Lunar New Year travel surge
The Noi Bai international airport in Hanoi has got plans readied in anticipation of a strong surge in passenger throughput in the upcoming Lunar New Year festival (Tet), the biggest traditional event in Vietnam.
According to a representative of the airport, on the peak day of the holiday (from January 16 to 28), the numbers of flights and passengers could hit 580 and 104,000, respectively. Of the figures, there are some 180 international flights and 26,000 foreigners.
However, both the flight and passenger volume are still lower than those reported on the peak day of last summer with 64 flights and 106,000 passengers.
Noi Bai airport will raise the security level between January 16 and January 28; increase the number of security personnel by 20% compared to normal days; open all check-in counters; and operate security scanners at maximum level, among other works.
The airport is also ready to implement COVID-19 prevention and control measures in line with recommendations of the Ministry of Health. The Lunar New Year holiday this year lasts from January 20 to 26, with the first day of the first lunar month falling on January 22. Travelling often begins to surge several days just before Tet.
Cashew industry expects another tough year amid global demand slump, high raw material prices
Last year was a challenging one for the cashew industry, with exports falling from the previous year, but 2023 might be even worse, according to the Viet Nam Cashew Association (VINACAS).
Exports were worth US$3.07 billion against the target of $3.2 billion, a $600-million reduction from the initial target, Bach Khanh Nhat, the association’s deputy chairman, said.
Thus, 2022 marked the end of a decade during which exports rose steadily, he told a review meeting held in HCM City late last week.
According to the association, there were a number of reasons for exports to fall.
The price of raw cashew stayed very high and processing costs were also high, but export prices were low, meaning exporters were reluctant, it said.
China, one of Viet Nam’s major cashew markets, last year maintained a zero COVID policy, making it difficult to ship to the market, it said.
Nguyen Minh Hoa, the association’s deputy chairman, said the energy and food crisis has driven up inflation around the world, affecting consumer spending.
According to the VINACAS Information Council, in 2023 cashew production and supply chains will continue to face challenges due to factors such as the Russia-Ukraine conflict, inflation and recession, the State Bank of Vietnam’s credit tightening, USD/VND exchange rate volatility, decline in demand, and increase in processing costs.
So, after careful consideration, VINACAS’ executive board has set a modest export target for 2023 of $3.1 billion.
Hoa said the number of new export orders signed for this year has fallen to a one-tenth of the normal.
Amid lower demand and export prices, the association and businesses at the meeting said there should be no rush to import raw cashew, whose prices remain high.
Hoa said last year exports of W320 grade cashew nut (the highest grade based on shape and colour) fetched $2.95-3.1 per pound while raw nuts were priced at $1,200 per tonne.
Vietnamese economy to focus on green development goals in 2023
The main requirements for the Vietnamese business community amid the current context is to focus on green development goals moving forward in the year ahead.
One of the new trends that many countries are currently focusing on today is consumers paying close attention to the environment and corporate social responsibility. The requirements in the current context for the local business community should therefore be to focus on green development goals.
Currently, many countries around the globe are in the process of promoting economic growth recovery as they seek to move towards green growth, also known as "Green Recovery".
In the nation, this transition to a green economy and green growth is an inevitable shift, particularly with the country striving to stay abreast with global development trends.
According to Nguyen Quang Huan, a member of the National Assembly (NA)'s Committee for Science, Technology and Environment, in the event that green development is not done, more waste discharge will impact the proportion of the economy, meaning that local products will become unpopular internationally.
This represents a very specific challenge, not only to the determination of politicians and environmentalists to reduce emissions, but also to the requirements that businesses must meet.
Therefore, in order to move in the direction of "greening" in their operations, enterprises must fully engage with the issue in a proactive spirit as a means of changing technology and boosting green development.
Nguyen Hai Minh, vice chairman of EuroCham Vietnam, said that in Europe, there is a new consumption trend of the general public paying closer attention to environmental protection and corporate social responsibility.
In relation to new investment activities, as well as the investment expansion and diversification of supply chains of European corporations, Vietnam currently represents a country under the "sight" of these enterprises.
However, with these changes taking place and firms focusing more on their own corporate social responsibilities, many potential European financiers are entering the Vietnamese market with a keen interest in investing in the near future.
The key to promoting digital economic growth in Vietnam
The wide applicability and huge connected data store created from blockchain have made this technology increasingly important in the progress of realising the goal of bringing the digital economy to 20% of GDP, as set by the government.
In one of the proudest and most impactful events in Vietnam’s technology sector last year, the Vietnam Blockchain Summit became the first major blockchain festival in the country, with the participation of more than 2,000 experts from top domestic and international blockchain tech companies.
It not only helped to reflect a vibrant blockchain market in Vietnam, but also demonstrated that the technology is having a strong influence on the economy, especially in economic fields based on public applications.
According to statistics from the Ministry of Information and Communications, Vietnam boasts more than 70,000 digital technology businesses, with revenues from IT reaching more than US$152 billion by the end of 2022. Vietnam is also forecasted to achieve the leading digital economic growth in Southeast Asia with a scale of about US$52 billion by 2025, according to the e-Conomy SEA 2022 report by Google, Temasek, and Bain & Company.
Last March, the government issued Decision No.411/QD-TTg approving the national strategy for development of the digital economy and society to 2025, with orientation to 2030.
Currently, blockchain technology is being applied in more than 60 different fields, not only in finance but also in aspects of science and technology, education, and personnel organisation.
Nguyen Bach Viet, strategy director of Microtec Vietnam, said that blockchain will contribute to the digital economy with the role of providing traceability data of stages in the production process, automating the application of technologies like AI and e-identification, and contributing to the reduction of human control. In addition, blockchain also helps to speed up transactions between parties, simplifying cross-border payments.
In the medical field, blockchain is also used in electronic records while in education, information and lessons can be transmitted through a digital platform for students to access knowledge, saving time and travel costs. And in e-commerce, blockchain will also help store and own digital assets.
However, according to many experts, one of the reasons hindering the application of blockchain technology to the digital economy is that knowledge about the potential and the tech itself has not yet been widely disseminated.
In Vietnam, research by MarketsandMarkets shows that the blockchain-related market is expected to reach a value of nearly US$2.5 billion by 2026. Currently, there are more than 10 Vietnamese innovative startups in the blockchain field with a market capitalisation of over US$100 million.
Viet Nam affirms position in international integration
Since joining the World Trade Organisation (WTO) in 2007, Viet Nam has engaged in more than 500 bilateral and multilateral agreements in various fields, including seven free trade agreements (FTAs).
It has also set up economic ties with around 230 nations and territories and is now a strategic partner of 17 countries.
This position has created outstanding motivation, helping the country realise its growth goals, continue comprehensive innovation, and steadily move forward in its development path with great achievements after 36 years of doi moi (Renewal) and the 16-year WTO membership.
With its increasing international position and reputation, Viet Nam is entering a new phase of international economic integration with a completely new posture, and is confident in participating in global economic linkages.
Despite a lot of difficulties caused by the COVID-19 pandemic in the 2020-22 period, Viet Nam’s import-export turnover surpassed the US$700-billion mark for the first time last year to top $732.5 billion, up 9.5 per cent year-on-year.
Notably, 2022 also marked the seventh consecutive year Viet Nam has recorded a trade surplus, with a value of over $11 billion.
In addition, Viet Nam has also become an attractive destination for foreign investors. As of late 2022, the country had attracted nearly $439 billion in 36,278 projects from more than 140 nations and territories.
According to statistics from the General Department of Customs under the Ministry of Finance, in 2021, Viet Nam’s trade with FTA partners hit $480 billion, up 22.5 per cent year-on-year, accounting for nearly 72 per cent of its total import-export turnover with the whole world.
Nguyen Thi Thu Trang, director of the World Trade Organisation (WTO) and Integration Centre at the Vietnam Chamber of Commerce and Industry (VCCI), attributed the achievements to the country’s bravery in opening its economy through the accession to the WTO and participation in FTAs.
FTAs have opened doors for Vietnamese exports and created more opportunities for the country to join the global value chain and production network, she said.
In particular, in the context of COVID-19, new-generation FTAs such as the EU-Vietnam Free Trade Agreement (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the UK-Vietnam FTA, and the Regional Comprehensive Economic Partnership (RCEP) have become "medicine" for Viet Nam's economy to recover post-pandemic, Trang added.
Air tickets nearly sold out ahead of Tet
Air tickets on many domestic flight routes have nearly been sold out before the Lunar New Year holiday, Tet, with seat occupancy reaching 90-100%, as travel demand picks up, according to the Civil Aviation Authority of Vietnam.
Flights from HCMC to other regions, such as Danang, Haiphong, Hue, Quy Nhon, Thanh Hoa, Vinh, Dong Hoi and Chu Lai, have a seat occupancy of 80-100% from January 14 to 19, just before Vietnam’s biggest and longest holiday.
Air tickets on the opposite routes from the northern and central regions to HCMC have also nearly been sold out for January 26 to 30, the period after Tet.
Statistics from the Civil Aviation Authority of Vietnam show that Vietnamese carriers expect to operate around 950-990 flights per day on domestic routes, with the total seat number increasing by 1.7 million, or 33% compared to the regular figures in the winter of 2022.
Bamboo Airways said it would increase its flights by 15%, add more seats on domestic flights, and operate more flights in the daytime and nighttime from January 6 to February 10.
Meanwhile, Vietnam Airlines Group (including Vietnam Airlines, Pacific Airlines, and VASCO) is operating 15,767 flights, a surge of over 4,000 flights with 1.1 million more seats.
Vietjet Air has increased the number of flights by 30%, with over 12,000 additional flights. During the Lunar New Year, Vietjet Air is expected to provide over 2.6 million seats, increasing by around 600,000 compared to the normal schedule.
US$9-billion HCMC-Can Tho Railway project under preparation
The Ministry of Transport has assigned the Vietnam Railway Project Management Board to make preparations for the HCMC-Can Tho Railway project with an estimated cost of US$9 billion.
The railway, starting at An Binh station in Binh Duong Province to Can Tho station and passing through six cities and provinces, comprising Binh Duong, HCMC, Long An, Tien Giang, Vinh Long and Can Tho, has a total length of 174 kilometers.
The project will have 15 stations and 11 maintenance workshops.
The route will be used to transport passengers at a maximum design speed of 190kph and the speed limit for cargo transport will be 120kph.
Proposed investment capital for HCMC-Can Tho railway at US$9 billion
According to preliminary calculations, the Ho Chi Minh City - Can Tho railway line, with a total length of 174.42km, has a total investment of about US$9 billion, equivalent to VND213.95 trillion.
The Railway Project Management Board has recently reported to the Ministry of Transport on the survey results and preparation of a pre-feasibility study report of the HCMC - Can Tho railway project. The results were given after the Railway Project Management Board worked with six provinces and cities where the project passes through, namely Binh Duong, HCMC, Long An, Tien Giang, Vinh Long, and Can Tho.
The research results show that the investment in the HCMC - Can Tho railway is necessary to meet future transportation needs, ensure the harmonious and sustainable development of transportation and restructure urban areas and population distribution on the HCMC - Can Tho corridor.
According to preliminary calculations, the HCMC - Can Tho railway line, starting from An Binh Station (Binh Duong) to Can Tho Station (Can Tho), passing through six provinces and cities, with a total length of 174.42 kilometers, is expected to have a total investment of US$9 billion, equivalent to VND213.95 trillion.
The HCMC - Can Tho railway line will be built under double track standards, with a track gauge of 1,435 millimeters, electrified to operate both passenger and freight trains. There are 15 stations and 11 maintenance and repair stations on the route.
By design, the maximum speed for train operation is 190km/h. Passenger trains are operated at below 190km/h, and freight trains are below 120km/h.
Vietnam among the top 10 countries with the most-developed 5G network
According to the Internet data analysis website Speedtest.net, Vietnam ranks 10th among the countries with the most 5G-connected devices in the world after the third quarter of 2022.
The top five countries on the list are the US, China, Brazil, Germany, and Japan. Two other Southeast Asian nations on the list are the Philippines and Thailand.
In Vietnam, Samsung Galaxy S22 Ultra has the fastest 5G connection speed, with a download speed of 286.77 Mbps and an upload speed of 41.34 Mbps. Apple’s iPhone 12 and 13 models also have fast connection speeds.
According to Nguyen Phong Nha, deputy director of the Ministry of Information and Communications' Telecommunications Authority, 5G has been tested in 55 of the country's 63 provinces and cities, and the government has asked companies to produce end devices to boost 5G network coverage.
In the early stage of 5G development, Vietnam will provide 5G services at industrial parks, schools, research institutes, and government agencies. The Vietnamese government aims for 100% of the population to have their devices connected to the 5G network by 2030.
Vietnam to export 5G devices to India
Viettel High Technology Industries Corporation is the first Vietnamese company to supply and deploy IP Router equipment in India for the telecommunications network of Gwave, a member of
United Telecoms Limited, a diversified business group and one of the first businesses bringing cellular services to India.
It was part of a strategic agreement on Comprehensive R&D and the Development of 5G Telecom Network Infrastructure, Defence Products and Solutions for Indian and overseas markets, signed by Viettel High Technology Industries Corporation - Viettel Group’s subsidiary and India's United Telecoms Limited (UTL) last December in Hanoi.
Under the contract, the Vietnamese company will supply cell site and IP router for access, aggregation, 5G fronthaul and backhaul, broadband, data center, and others.
The IP transmission device supports 100bps speed that is able to meet the requirements of the 5G network owned by Viettel.
Binh Thuan targets 6.5 million visitors in 2023
The south-central province of Binh Thuan, which is hosting the Visit Vietnam Year 2023, aims to attract 6.5 million visitors this year, including 200,000 foreigners, according to the provincial Department of Culture, Sports and Tourism.
The local tourism sector also set a target of 15.9 trillion VND (677.98 million USD) in revenue in the year, heard a conference held by the department on January 9.
Under the theme “Binh Thuan – Green Convergence”, the Visit Vietnam Year 2023 focuses on green products, clean energy, creating a friendly and safe environment, preserving and promoting cultural heritages and good traditional values of the nation, heading to a green growth and tourism development associated with other economic sectors for sustainable development.
There are more than 200 activities held by the Ministry of Culture, Sports and Tourism in cooperation with Binh Thuan all year round as well as many events in 41 provinces and cities across the country.
Quang Ninh strives to attract 14 million tourist arrivals in 2023
The northeastern border coastal province of Quang Ninh strives to welcome 14 million tourist arrivals and earn nearly 27 trillion VND (1.2 billion USD) from them this year.
Accordingly, the province will continue several projects to further develop the local tourism sector, including a project on tourism recovery to 2025, with a vision to 2030; a sustainable community tourism development work; and a master plan on marine tourism development on Ha Long, Bai Tu Long bays, Van Don and Co To islands.
Pham Thi Oanh, head of Mong Cai city’s Department of Culture and Information, said since the Van Don- Mong Cai expressway was put into operation in September 2022, the number of visitors to the locality has increased significantly. Mong Cai aims to welcome 1.5 million arrivals this year, up 50% compared to 2022.
Mong Cai has inaugurated a pilot free wifi system and QR code scanning points to better serve tourists, and a list of service providers in the city.
HCM City sees seven products with export turnover of over US$1 billion
Ho Chi Minh City recorded seven products with export turnover exceeding US$1 billion in 2022, according to details given at a conference held on January 9.
The southern city's Department of Industry outlined that computers, electronics and components grossed US$15.3 billion, while textiles and garments raked in US$4.4 billion, up 25.0%.
Other machinery, equipment, tools and spare parts fetched a turnover of US$2.7 billion, up 25.4%, while footwear, crude oil, rice, fruit and vegetable exports surged by 48.7%, 17.9%, 7.2%, and 9.4% to reach US$2.5 billion, US$2.3 billion, US$1.2 billion, and US$1.0 billion, respectively.
Statistics revealed that Ho Chi Minh City’s total export turnover through the national border gate last year stood at an estimated US$47.18 billion, up 5.1% against the same period from the previous year.
This increase can be attributed to the industrial production index (IIP) last year rising by 13.9% on-year, of which four key industrial groups are estimated to have soared by 20.4%.
Meanwhile, total retail sales of goods and services in 2022 edged up by 30.5% to reach VND1.08 trillion compared to 2021, of which retail sales of goods inched up 20.5% to VND625.5 billion.
This year, the southern city is striving to reach IIP of 7.5% compared to 2022, with total retail sales of goods expected to rise by 12% compared to the estimates recorded last year.
The import and export turnover through the city’s border gate, with the exception of crude oil, is anticipated to grow by 10% compared to 2022.
Viettel's profit highest in 5 years
Military-owned telecommunications group Viettel achieved a pre-tax profit of VND43.1 trillion (US$1.8 billion) last year, the highest since 2017.
The group recorded growth in all fields such as telecommunications, foreign investment, digital transformation technology and high-tech industrial production last year, Viettel said.
As a result, the group's consolidated revenue increased by 6.1 per cent to about VND163 trillion.
Viettel's pre-tax profit also increased by 3 per cent compared to 2021 to VND43.1 trillion.
This is also the highest profit of Viettel in the last five years, contributing about VND38 trillion to the State budget, equivalent to the level before the pandemic in 2019.
The main source of revenue from telecommunications is maintained by Viettel as it continues to maintain its position as the largest mobile telecommunications service provider in Viet Nam with a 54 per cent market share. Viettel's telecommunications service revenue growth rate is 1.5 times the world average.
Viettel's foreign investment activities for the first time reached nearly $3 billion, more than VND70 trillion, equivalent to its revenue from domestic telecommunications.
Toyota Vietnam recalls 306 Toyota Veloz Cross
Toyota Motor Vietnam on January 4 made an announcement to recall 306 Veloz models to replace dashboard gauges on this model.
Under the announcement, a total of 306 vehicles are affected with codes W101LE-LBSFF and W101LE-LBVFF manufactured from April 11, 2022, to April 18, 2022.
According to Toyota Vietnam, dashboard gauges are spare parts installed on the vehicles, which have the function of displaying information during driving such as vehicle speed, fuel level, warnings, and messages. In the dashboard gauges of affected vehicles, solder may be incorrectly filled in some terminals of the printed circuit board (PCB) where the integrated circuit (IC) of the power circuit is installed.
Replacing and fixing dashboard gauges is free of charge at Toyota dealers nationwide.
HVN launches new Rebel 500 in 2023
Honda Vietnam (HVN) rolled out a new version of the Honda Rebel 500 on Thursday in Viet Nam.
The model has quickly gained the trust of customers who are in love with the combination of a classic, timeless look and the forward-looking, contemporary style of a cruiser.
The bike impresses owners with three new colours (black red, dark grey, and rough black) which not only create a fresh, unique look but also highlight the throwback, classical features of the model.
New Rebel 500s are equipped with a dual-channel anti-lock braking system to enhance the driving experience for users on every journey. The bike’s speedometer is equipped with a blue-backlight LCD screen, which is a glorious ode to the bike’s reductionist design allowing riders to easily observe the necessary information.
The new version of the Rebel 500, imported from Thailand, is available at Honda Motor shops at the retail price of VND180.8 million ($7,533), VAT included.
Source: VNA/SGT/VNS/VOV/Dtinews/SGGP/VGP/Hanoitimes
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