HÀ NỘI — The Vietnamese economy is witnessing a good growth momentum, marking a positive signal for the development of the automobile market, said deputy minister of Industry and Trade Đỗ Thắng Hải.

Speaking at the opening ceremony of the 15th International Exhibition on Automobile, Transportation and Supporting Industries (Vietnam AutoExpo 2018) at the National Convention Centre in Hà Nội’s Nam Từ Liêm District on Wednesday, Hải said the Government would build the automobile industry into an important industry to meet the domestic market demand for trucks, passenger cars and special-purpose vehicles.

The Government is also striving to provide a market supplying auto components, parts and some high-value component sets for the global automotive industry, he added.

It is predicted that by 2030, Việt Nam will have between 466,000 and 863,000 new cars entering the automobile market. By 2020, the number of motorbikes is expected to reach 36 million units.

Hải said the Government has paid attention to the development of the supporting industry and issued many supportive and preferential policies to promote the industry. In addition to this, the improved infrastructure is also a favourable factor helping automobile and motorbike manufacturers and supporting suppliers to develop production and business.

With the above predictions and the Government’s efforts, the automobile industry, the auto and motorbike market and the supporting industry in Việt Nam offer a lot of potential for businesses to invest in this industry.

Taking this trend forward, the Vietnam AutoExpo 2018 is seen as a meaningful activity for manufacturing and trading enterprises in the automotive, motorcycle and supporting industries.

The exhibition will act as a bridge for domestic and foreign enterprises to meet, exchange and co-operate in business as well as investing in, expanding and developing the market. In doing so, they will contribute to promoting the domestic industry in future.

Covering ​​nearly 10,000sq.m with 450 booths, the Vietnam AutoExpo 2018 aims to provide visitors with a complete understanding of the market of automobiles, motorcycles and supporting industries in Việt Nam.

In the field of transportation, the Vietnam Engine and Agricultural Machinery Corporation and brands from Russia, South Korea and China are showcasing many new products, including trucks, buses, commercial vehicles and special-purpose vehicles.

Also on display at the exhibition are popular motorcycle manufacturers, such as Ducati, Harley Davidson, Triumph, Royal Enfield and Kawasaki, with hundreds of models in high-engine displacement.

There are hundreds of exhibits on supporting industries, spare parts and components, maintenance and repair services as well as domestic and foreign car accessories.

During the exhibition, there will be a seminar on developing the supporting industry, connecting demand and supply to serve production and assembly of commercial cars and special-purpose vehicles in Việt Nam.

The exhibition will conclude on June 9. — VNS