Auto support industry needs to take initiative

The domestic automobile parts industry has failed to reach the set target despite support from the Government. (Photo: VNA) Hanoi (VNS/VNA) – The domestic automobile parts industry has failed to reach the set target despite support from the Government, said Nguyen Thi Tue Anh, deputy director of the Central Institute for Economic Management (CIEM). Speaking at a seminar on policies, barriers and solutions to developing the industry in Hanoi on October 30, Anh said the industry still had a low localisation rate (or rate of local part supply). She said Vietnam needed to promote the development of support industries to compete with other countries in the region. “It is important to have policy research related to the automotive and automotive support industries to promote the use of domestic automobile parts,” said Anh. Vietnam has 358 automobile-related manufacturing enterprises, including 50 auto assembly businesses, 45 car chassis and body manufacturers and 214 auto part producers. The number of auto part producers is reportedly much lower than in Malaysia and Thailand, which have 385 units and 2,500 units respectively. The industry produces a number of simple parts such as components for chassis, trunks, cabinets, car doors, tires and tubes, radiators, brake lines,… Read full this story

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