Vietnam’s CBU car imports in seven months surge despite COVID-19
Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume despite the complexities of COVID-19.
Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume (Illustrative photo: VNA)
Hanoi (VNA) - Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume despite the complexities of COVID-19.
Statistics of the General Department of Vietnam Customs showed that in the period, Vietnam purchased 95,525 CBU vehicles worth 2.1 billion USD, surging 107.1 percent in value against the same period last year.
Thailand and Indonesia were the main providers of Vietnam, holding a lion’s share of 80 percent.
In July alone, 14,407 cars worth 290.8 million USD were imported, down 5.9 percent in volume and 13.3 percent in value compared to the previous month.
Meanwhile, members of the Vietnam Automobile Manufacturers' Association (VAMA) sold 166,516 vehicles in January-July, up 27 percent compared to the same period last year. Of the figure, domestically assembled cars made up 15 percent, or 94,109.
In seven months, TC Motor of Hyundai Thanh Cong sold 38,066 vehicles, while VinFast of conglomerate Vingroup 19,720 units./.
The Vietnam Automobile Manufacturers’ Association (VAMA) has reported that its members posted a 15 percent month-on-month decline in automobile sales in May to 25,585 units, due to the impact of COVID-19 and a shortage of semi-conductor chips for the industry.
Limited market capacity and price differences between domestically produced cars and imported cars are the two biggest bottlenecks for the local auto industry, according to the latest report from the Ministry of Industry and Trade (MoIT).
About 335 million USD was spent on importing 15,316 completely built-up (CBU) vehicles in June, down 10.2 percent and 1.8 percent, respectively, against the previous month, according to the General Department of Customs.
Automobile sales in Vietnam plunged in July due to the complications of COVID-19 and social distancing measures being applied in many localities nationwide.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume (Illustrative photo: VNA) 
