The number of locally-assembled vehicles has annually risen 10 percent in the period 2015-18, reaching 250,000 units in 2018 (Photo: VNA) Hanoi (VNA) – Vietnam needs to issue special policies for the automobile industry to catch up with other countries in the ASEAN region, said experts at a conference held in Hanoi on October 22. Hosted by the Central Institute for Economic Management (CIEM), experts discussed solutions to complete tax policies and financial support to boost the development of the industry of automobile and auto parts. According to CIEM deputy head Nguyen Thi Tue Anh, the production of automobile and auto parts is one of six key industries of Vietnam. She said it was needed to clarify the situation, inadequacies and limitations in the implementation of policies as well as proposing solutions while motivating businesses to develop. Statistics from the Ministry of Industry and Trade shows the country’s automobile business has grown rapidly in recent years. The number of locally-assembled vehicles has annually risen 10 percent in the period 2015-18, reaching 250,000 units in 2018. Weak production is one of the reasons the industry failed to cope with the competition on tax cuts, which was eliminated for cars from ASEAN… Read full this story
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