The Ministry of Finance has proposed the tax incentives for the automobile part-supplying industry to be extended through December 31, 2027, instead of the end of this year to promote the development of the domestic automobile industry.

The Federation of Thai Industries (FTI) on October 24 reported that automobile production in the country fell 25.5% in September from a year earlier.

The Association of Southeast Asian Nations (ASEAN) and Japan plan to create their first joint strategy on automobile production and sales within Southeast Asia in the context of China’s increasing presence in the regional electric vehicle market.

Chairwoman of the National Assembly Nguyen Thi Kim Ngan met with Belarusian Prime Minister Sergey Nikolayevich Rumas on December 13 as part of her ongoing official visit to the European country.

The automobile market is expected to change dramatically from now to the end of this year as the production of cars in Vietnam starts to recover.

The Federation of Thai Industries (FTI) has called on the government to maintain tariff on imported cars at 80 percent to protect the local auto manufacturing industry.

Indonesia and China have signed five cooperation contracts worth 23.3 billion USD under the Silk Road Economic Belt and 21st Century Maritime Silk Road initiatives, according to Indonesia’s Antara news agency.

The Federation of Thai Industries (FTI) forecasts the country’s automobile production to reach 2 million units in 2018 driven by a growing demand.

Vietnam has completed negotiations on bilateral agreements on automobile manufacturing and assembling with Russia and Belarus, according to the Ministry of Industry and Trade.