Automobile industry develops but local part supply remains low, says MoIT The automobile industry of Việt Nam has witnessed progress in the last two years, but the localisation rate (local part supply) still remains low, not meeting the set target, according to an Ministry of Industry and Trade (MoIT) report sent to the National Assembly for discussion and direction.

Việt Nam must adjust mechanical engineering development strategy: firms

Việt Nam needs to adjust its development strategy for the mechanical engineering industry to ensure it develops sustainably.

Toyota, An Phát Holdings Group seek to increase local sourcing by the carmaker Toyota Việt Nam and An Phát Holdings Group (APH) are striving to increase localisation rate of plastic spare parts from current 30 per cent to 45 per cent.

Samsung helps train Vietnamese consultants in support industry

A billion pairs of shoes exported

Việt Nam now exports 1 billion pairs of shoes per year and the nation is the second largest leather and footwear exporter in the world, according to experts at the Việt Nam Footwear Summit 2019 held in HCM City on Wednesday.

Samsung confirms leading role in Việt Nam’s support industry

Deputy Prime Minister Trịnh Đình Dũng has asked South Korean firms, including electronics giant Samsung, to continue playing a leading role in pushing Vietnamese support enterprises for joint development.

Hyundai asked to increase localisation rate to 40 per cent

Deputy Prime Minister Trịnh Đình Dũng has asked South Korean carmaker Hyundai Motor Company to promote technology transfer to its local partners in Việt Nam and increase its localisation rate to a minimum of 40 per cent.

About 65% of Japan firms in VN gain operating profits

About 65.3 per cent of Japanese companies in Việt Nam gained operating profits in 2018, 0.2 percentage points more than in the previous year.

Ministry wants to reduce tax on locally made auto parts

The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.

Vietnamese firms have potential to join in global supply chain

Although it is not easy to participate in the supply chain of multinational corporations, Vietnamese enterprises are fully capable of supplying large companies.