Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam is anattractive market for the automobile industry, Malaysian Ambassador to VietnamDato Mohd Zamruni Khalid said at a workshop on business opportunities inautomobile spare parts manufacturing between the two countries in Hanoi onApril 18.
According to the ambassador, the presenceof Vietnamese automaker VinFast has made the country’s automobile industry moreattractive, creating opportunities for foreign manufacturers and componentsuppliers to discover the Vietnamese market.
He said that 15 Malaysian enterprisesoperating in the field attended the workshop to seek cooperation opportunitieswith Vietnamese partners.
Vice Chairman of the Vietnam Chamber ofCommerce and Industry (VCCI) Hoang Quang Phong expressed his belief that thetwo countries’ businesses should take advantage of development opportunitiesand exchange experience in automobile component manufacturing, which is one ofMalaysia’s areas of expertise.
Implementing the ASEAN Trade in GoodsAgreement (ATIGA), Vietnam will become a promising destination for theautomobile industry of other nations, including Malaysia, Phong added.
Luong Duc Toan, from the Ministry of Industryand Trade’s Department of Legal Affairs, stated that each year Vietnam importsover 3 billion USD worth of components and spare parts serving automobileassembly and repairs.
Currently, the localisation rate of theVietnamese automobile industry remains low. Therefore, if manufacturers do nottake measures to increase localisation, they will face difficulties whilecompeting with those in other countries, Toan said.
According to Toan, there are more than 40enterprises in Vietnam participating in automobile production and assembly, butmost only work on small and medium scales, with a total capacity of about800,000 units a year.
He suggested developing the automobileindustry and the supporting industry serving it, as well as stepping updomestic production and assembly. –VNA
According to the ambassador, the presenceof Vietnamese automaker VinFast has made the country’s automobile industry moreattractive, creating opportunities for foreign manufacturers and componentsuppliers to discover the Vietnamese market.
He said that 15 Malaysian enterprisesoperating in the field attended the workshop to seek cooperation opportunitieswith Vietnamese partners.
Vice Chairman of the Vietnam Chamber ofCommerce and Industry (VCCI) Hoang Quang Phong expressed his belief that thetwo countries’ businesses should take advantage of development opportunitiesand exchange experience in automobile component manufacturing, which is one ofMalaysia’s areas of expertise.
Implementing the ASEAN Trade in GoodsAgreement (ATIGA), Vietnam will become a promising destination for theautomobile industry of other nations, including Malaysia, Phong added.
Luong Duc Toan, from the Ministry of Industryand Trade’s Department of Legal Affairs, stated that each year Vietnam importsover 3 billion USD worth of components and spare parts serving automobileassembly and repairs.
Currently, the localisation rate of theVietnamese automobile industry remains low. Therefore, if manufacturers do nottake measures to increase localisation, they will face difficulties whilecompeting with those in other countries, Toan said.
According to Toan, there are more than 40enterprises in Vietnam participating in automobile production and assembly, butmost only work on small and medium scales, with a total capacity of about800,000 units a year.
He suggested developing the automobileindustry and the supporting industry serving it, as well as stepping updomestic production and assembly. –VNA
VNA
