Seminar discusses opening automobile industrial complexes in Vietnam
The Central Institute for Economic Management (CIEM) organised a seminar in Hanoi on August 10 to discuss the world’s automobile industrial complexes and lessons for Vietnam
Hanoi (VNA) – The Central Institute for Economic Management (CIEM) organiseda seminar in Hanoi on August 10 to discuss the world’s automobile industrialcomplexes and lessons for Vietnam, part of activities to realise thegovernment’s plan to turn the automobile industry into a key economic sector.
Speakingat the event, CIEM Deputy Director Nguyen Thi Tue Anh said the domesticautomobile industry remains underdeveloped due to small market, weak purchasingpower and the lack of appropriate incentives.
Experiencefrom developed countries showed that Vietnam needs to rally resources,especially brainpower, capital and technology, to open concentrated automobileindustrial complexes, with the supporting industry sector playing a crucialrole in creating a value chain.
NguyenThi Xuan Thuy from the Ministry of Industry and Trade’s Institute forIndustrial Policy and Strategy expressed her concern that the domesticautomobile industry would face fierce competition from early 2018 when automobilesimported from the ASEAN member states are subject to zero percent tariff.
Meanwhile,domestically-made cars still have their imported components subject to importtaxes, resulting in their higher prices than those bought from Thailand orIndonesia.
Economistssaid increasing the rate of locally-made spare parts in automobile manufacturingis an important, long-term goal of the Vietnamese automobile industry.
Firmsexpressed wish that the government and concerned authorities would study andapply consistent and flexible policies so that they could outline specificorientations for growth.-VNA
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Illustrative image (Source: VNA) 
