Hanoi (VNA) – Vietnameseand Chinese firms operating in heavy-duty automobile spare parts met at aseminar in Hanoi on April 18 to seek partnership opportunities.
Pham Quang Thinh, deputy head ofthe Vietnam Chamber of Commerce and Industry (VCCI)’s Department ofInternational Relations, said the event affords both sides a chance tointroduce their manufacturing capacity, learn about respective markets and findpartners.
Liu Chang Yong, Chairman of theAssociation of Heavy-duty Automobile Spare Parts of Jinan city, the Chineseprovince of Shandong, said the association currently counts more than 500member enterprises which ship products to over 100 countries worldwide and earntens of billions of USD.
According to the GeneralDepartment of Vietnam Customs, two-way trade between Vietnam and China neared70 billion USD last year, nearly 20 billion of which was Vietnam’s export.
By the end of March 2017, Chinainvested in more than 1,500 projects worth around 11 billion USD in Vietnam,mostly in the fields of processing, industrial manufacturing and mining.
The Ministry of Industry andTrade’s Heavy Industry Department forecast that the domestic demand forautomobiles could amount to over 600,000 units per year in 2015.
Last year, 400 businessesdesigned and assembled about 460,000 units per year. The automobilemanufacturing and assembling sector expands nearly 17 percent annually.
A strategy to develop domesticautomobile industry until 2025 with a vision to 2035 has been approved by thePrime Minister, with incentives regarding credit, demand stimulation, andinvestment studies being outlined.-VNA
Import tax on auto spare parts and components may be down to zero percent next year, two years before schedule in 2018, under the ASEAN Free Trade Agreement (FTA).
Automobiles which are priced higher in Vietnam than in regional countries is the reason for the sluggish development of the automobile industry, experts say.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Source: VNA) 
