The Hanoitimes - The statement was made by Yutana Sanada, Regional Senior Vice-President of Nissan Motor, along side the World Economic Forum on ASEAN in Hanoi. Yutana Sanada, Regional Senior Vice-President; Head, Operations Committee, Asia and Oceania, Nissan Motor Co., Japan The gap between Vietnam and other countries that have developed auto industry like Japan is very big. Will the Fourth Industrial Revolution help Vietnam shorten that gap? Sure, it obviously will happen. Even though GDP per capital or other KPIs are still a bit gap to the acceleration of motorization, but with the industry growth of 6-7% average annually of this country, I’m sure Vietnam will reach this level soon. Also, with some other technologies and types of connectivity, I think Vietnamese customers are the key. They have access to the mobiles. So, for these types of things, maybe Vietnam can skip on normal evolution. So I have full confidence about Vietnam’s growth. How will the Fourth … [Read more...] about “Vietnam’s auto industry can skip on normal evolution”
Skips foreign car repair
As many as 12 state officials in Nam Dinh Province have been punished for visiting pagodas during work hours. Officials skip work to go to temples Director of Nam Dinh City's State Treasury Nguyen Tai Tam was dismissed from the position and was transferred to be the vice head of Nam Dinh Province's State Treasury Office. Deputy directors of Nam Dinh City's State Treasury Le Huu Vu and Hoang Duy Luc, the head accountant Do Thi Thu Huong and eight other officials were reprimanded. On February 26, Tam and many other officials of the Nam Dinh City's State Treasury and Binh Luc District Power Company of Ha Nam Province were caught praying at Tran Temple during work hours. After receiving the news, Minister of Finance Dinh Tien Dung asked the State Treasury to investigate the case. According to Dung, the officials had violated the ministry and prime minister's directives to work on assigned tasks and not go to festivals after Tet. On March 8, the municipal party committee announced that … [Read more...] about Officials punished for skipping work during spring festivals
Vietnam’s policy on tightening car import regulations under Decree 116 may be the main reason behind foreign car makers' decision to expand production in Vietnam. The Toyota automotive plant in Vinh Phuc province. Source: toyotavinhphuc.info Most recently, Toyota Vietnam proposed the Vinh Phuc People’s Committee to rent 9.1ha of land in Phuc Yen city to expand its automobile manufacturing plant, raising its annual capacity from the current 50,000 to 90,000 units by 2023. Accordingly, the total capital for this expansion is about $40 million. Toyota’s move is supposed to be the result of Decree No.116/2017/ND-CP, which introduced many strict conditions and regulations about importing cars, which came into effect early this year. Not only Toyota, but Ford and Hyundai are also planning to expand production scale in Vietnam due to the decree. According to the Vietnamese government, Decree 116 aims to boost the development of the country’s automobile … [Read more...] about Decree 116 moves foreign car makers to expand production in Vietnam?
President Donald Trump is considering a plan to impose steep tariffs on auto imports justified by national security concerns, the same reason used for duties on steel and aluminium, The Wall Street Journal reported on Wednesday (May 23). New foreign cars are seen parked at the Dundalk Marine Terminal on Mar 9, 2018 in Baltimore, Maryland. (Mark Wilson/Getty Images/AFP) The White House is considering launching a so-called Section 232 investigation on auto trade, according to the report, which would provide the legal basis to impose tariffs if the Commerce Department finds imports threaten US national security. Trump may have previewed the move in two vague tweets early on Tuesday. "There will be big news coming soon for our great American autoworkers," he said on Twitter. "After many decades of losing your jobs to other countries, you have waited long enough!" In another tweet referring to trade talks with China, he said that, while the discussions were moving along nicely, … [Read more...] about Trump considering 25pc tariffs on car imports: Report
Tariffs on motor vehicles imported from Japan to Vietnam will be slashed to zero from 2029 at the earliest. The tax exemption is part of the Trans-Pacific trade deal signed on March 8 between 11 member countries, including Japan and Vietnam. Industrial products will no longer be subject to trade tariffs between those countries as part of the pact. Vietnam will eliminate tariffs for cars with an engine capacity of over 3000cc 10 years after the CPTPP goes into effect, and the rest will follow suit thee years after that, said Luong Hoang Thai, director general of the Department of Multilateral Relations at the Ministry of Industry and Trade. The earliest date for the pact to come into effect for Vietnam is 2019. While the elimination of tariffs under the CPTPP has been widely regarded as a powerful signal against protectionism and trade wars, Vietnam has been known to raise other trade barriers to counter the loss it incurs from the elimination of import taxes. The most recent … [Read more...] about Car import tariffs from Japan to Vietnam to be eliminated from 2029