Green and cleaner transport initiatives are being promoted in Vietnam, with more top brands hoping to offer the future of electric vehicles.

At least three foreign automobile manufacturers in the last year have chosen Vietnam as a potential market to seek investment opportunities and use it as a springboard to export cars to regional countries.

The Vietnamese government has encouraged manufacturing of electric vehicles under the green energy development plan, but standards for electric vehicles are unavailable.

The Ministry of Science and Technology will officially lift regulations on the localization ratio in the automobile sector and the levels at which imported vehicle components are knocked down beginning October 1.

Vietnam has continued spending billions of US dollars on importing auto spare parts as the local car industry failed to achieve it's localisation targets.