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World Bank's annual report on Vietnamese development. The World Bank in Vietnam on Jan. 21 announced the Vietnam Development Report – an annual publication that is aimed to help shape the country’s reform agenda.

Vietnam overcoming crisis better than other countries. A report on the Vietnam’s economy in the first half of this year released by the World Bank reaffirms that Vietnam has overcome the global economic crisis better than other countries.

Auto market to grow 30% at least in 2008: VAMA. VietNamNet Bridge – Dr Udo Loersch, Chairman of the Vietnam Automobile Manufacturers’ Association (VAMA), believes that the domestic car market will witness the impressive growth rate of 30% at least in 2008 following a successful year 2007.

Vietnam automobile industry. The RNCOS report “Vietnam Automobile Industry Forecast (2007-2010)” highlights the present scenario of Vietnam automobile in context of the South-East Asia automobile industry. The Vietnam automobile industry’s production, sales, and import statistics have been covered to figure out the past and future trends, supplemented with forecasting of overall automobiles sales by segment, where motorcycle segment is taken separately due to its large size. The report has rationally analyzed the key driving factors, opportunities, and challenges for the Vietnam automobile industry.

Vietnam's car market: a great open potential. Fuelled by wider opening of Vietnam's automobile industry to the outside world, and rising affluence of local people, the country's car market, though cooling down, will become effervescent in the coming years.

Malaysian auto firms want to tap Vietnamese market. VGP - A Malaysia business delegation including 21 exporters of automobile spare parts has recently met Việt Nam’s auto producers and assemblers in to seek potential partners, stating that the local market has a large room for growth.

Automobile Industry in Vietnam Pre-WTO. The automobile industry in Vietnam was stirred up by the government’s decision to reduce tariffs on imported cars starting January 1, 2006. In addition, imports of used cars and their tariffs are also lowered, generating a fierce competition between the car makers in Vietnam. They respond to these government’s new rulings by immediately dropping their prices. For instance, locally assembled Toyota models decreased by $2,000 to $2,500, Mitsubishi cars are lowered by $4,000 to $12,000 apiece; Mercedes-Benz dropped their price by $5,000 to $10,000, and Daewoo by $1,000 to $2,000.

Vietnam’s Automobile Market Heating Up. In response to the shortage of domestically assembled cars, auto dealers have resorted to imports. Domestic assemblers, meanwhile, are continuing to expand their investments. These changes in Vietnam’s automobile market stand in stark contrast to those in the global auto industry. According to both experts and consumers, the local car market is posting “torrid” growth.

Vietnam’s Automobile Market Update. This publication is partly cited from FineIntel’s Industry Update. Our monthly industry update is a publication designed to provide meaningful insight into today’s industries in Vietnam. We encourage our readers to submit suggestions for topics that they would like see covered in future issues. While FineIntel can not cover each and every topic, we will do our best to provide the fullest coverage possible.