Indonesia.

The government has changed its development strategy for the automobile industry, given the fact that it’s not feasible to produce one entire car in Vietnam.

This marked the rise in number of imported cars to Vietnam in two consecutive months, following a 34% increase in July.

In 2020, Vietnam’s GDP growth is set to hit 2.3% and then rebound strongly to 8% in 2021.

As a production hubs of world major tech firms such as Samsung, Vietnam is capable of manufacturing sophisticated products with high technological content, said an expert.

As many as 70.35% of Vietnamese people have access to Internet, a significant increase from the 46.5% in 2018.

In July, Vietnam imported nearly 4,800 cars worth US$108 million, up 34% month-on-month in volume and 10% in value.

Foreign investors are returning to the market with its net outflow narrowing from VND12 trillion (US$520 million) since its March bottom to VND1.8 trillion (US$78 million) as of mid-August.

Hanoi, Manila, and Jakarta have made comments shortly after the US strengthened position in the sea of more than US$5 trillion worth of trade transits per year.

A reduction of 50% of the registration fee for domestic cars and the removal of import tariff for car parts not available domestically would help boost the domestic car market.

Such increases have created a burden on the citizens, while multinationals are taking advantage of Vietnam’s incentive policies to avoid taxes.