Vietnam and India have substantial opportunities to cooperate in the automobile industry as Vietnam is accelerating FDI attraction in the sector, an official has said.
In order to address current issues in investment and manufacturing activities in Vietnam, the National Assembly is now considering the project ‘One Law to Amend 8 Laws’ in its extraordinary session from January 4-11, 2022. SGGP News has conducted an interview with former Chairman of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung regarding this important project.
The supporting industry has a significant meaning to economic restructuring towards industrialization and modernization. However, with the existing contradictions, if there are no drastic policies and actions, the story of building an autonomous supporting industry will remain far-fetched.
The groups of automobiles and electronic products imported from China into Vietnam had seen a sudden increase. Besides meeting consumer needs, this issue has also raised many concerns for the domestic electronics manufacturing industry.
The General Department of Vietnam Customs held a seminar on tax policy for automobiles and the role of customs in promoting the automobile industry in Vietnam on November 3 in Hanoi.
According to the Ministry of Industry and Trade, there are 1,800 enterprises manufacturing components and spare parts in Vietnam but only around 300 enterprises participate in global production network of multinational corporations, accounting for around 17 percent.
Deputy Prime Minister Trinh Dinh Dung called for more Japanese investment in automobile industry, energy and tourism which are fields with huge demand and development potential in Vietnam.