Industry Development Plans Target Much Needed Competitiveness

Vietnam's auto sector could be in for a considerable boost thanks to plans to create a national industry hub in the Chu Lai Economic Zone. The aim of the project is to increase the scale of domestic production in order to make the sector more competitive when import tariffs are eliminated under the ASEAN Free Trade Agreement in 2018. Regardless of the ASEAN impact, BMI believes the Vietnamese auto sector has been struggling to compete with its regional peers for some time and such a move would have been necessary at some point to win

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