Vietnam-the next Asian Tiger? Message Board

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Strategies & Market Trends : Vietnam-the next Asian Tiger?

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From: Mannie	1/31/2007 4:10:21 PM
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Vietnam's auto imports surges this month Vietnam spent US$62 million importing automobiles, components and spare parts in January, a year-on-year rise of 44.4 percent, the country's General Statistics Office reported Wednesday. In January, Vietnam imported 1,000 completely-built automobiles worth $17 million, posting respective increases of 11.5 percent and 6 percent. Another $49 million was spent on importing motorbikes, components and spare parts, up 18.9 percent. The country currently houses 13 automobile joint ventures between foreign and local enterprises with total registered capitals of nearly $700 million. Besides, dozens of local enterprises specialize in producing automobile parts and assembling simple vehicles. A Transport Ministry report early last year said Vietnam, with a population of more than 83 million, had some 700,000 private-owned cars compared with 17 million motorbikes. The Vietnam Automobile Manufacturers Association said Toyota’s multi-purpose vehicle Innova was the top-selling car in Vietnam last year. Ford’s Everest took second place and Honda’s Civic at third rounded off the top three.

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