President praises Korean firms' profound business operations
President Nguyen Xuan Phuc December 5 meets top-rank executives of Korean conglomerates during his official 3-day visit to the country.
President Nguyen Xuan Phuc December 5 meets top-rank executives of Korean conglomerates during his official 3-day visit to the country.
The local automobile industry would continue to face severe impacts from the Covid-19 pandemic as demands for cars are expected to stay low for the foreseeable future.
Almost two years since the first Covid-19 outbreak, the transportation sector remains among the hardest hit by the pandemic.
Car manufacturers are planning to shift production chains elsewhere to Vietnam in case such tax incentives are extended.
The Vietnamese automaker wants to engage Lao consumers through a local group.
The formation of local supply chains remains core for Vietnam’s sustainable industrial sector in the future, said a local senior official.
The number of imported cars in March are nearly the combined figure in the first two months of the year.
Vietnam’s rising income per capita would soon move cars from a luxury product with a passenger vehicle density of 34 per 1,000 to a more ordinary one with a density level comparable to countries in the region.
The low sale volume was due to difficult economic conditions that forced customers to tighten spending.
The outlook of the car market for next year remains dim following a turbulent year in 2020.