Chinese automobile businesses flock to Vietnam
The trend of Chinese automobile businesses flocking to Vietnam has been reinforced by Haima returning to Vietnam later this year with both gasoline and electric vehicles, distributed by local sales platform Carvivu.
Per an agreement between Haima and Carvivu announced Tuesday, gasoline vehicles Haima SUV 8S and Haima MPV 7X and electric vehicle Haima 7X-E are set to be delivered to Vietnam next month and ready for sale in the second half of this year at the earliest.
Haima once sold its vehicles, namely Haima2, Haima3, Haima7, and Haima Preema in Vietnam in 2011 but then withdrew from the market due to weak performance.
Founded in 1988, Haima has reached an annual capacity of 150,000 vehicles and 150,000 motors and has exported its products to over 20 nations like Egypt, Chile, the Philippines and Vietnam.
The move remarked the trend of Chinese automobile brands entering Vietnam recently.
In March 2021, Ora White Cat, an electric vehicle brand under China’s Great Wall Motors, registered for protection of industrial design of one model with Vietnamese authorities.
Great Wall Motors in 2022 conducted similar moves for its King Kong Cannon pick-up truck and Shalong Mecha Dragon coupe.
Hongqi, a luxury brand, debuted two models H9 and E-HS9 in Vietnam in January 2022. The brand is well-known as the “Chinese Rolls Royce” and used by President Xi Jinping.
FAW Group Corporation, among the biggest automobile manufacturers in China, signed a deal with Vietnam’s Long Giang Energy & Investment JSC in January 2021, with the latter becoming the official and exclusive distributor of the former’s truck tractors in Vietnam.
China’s Chery Automobile Company Limited plans to build a factory in Vietnam to sell cars in the Southeast Asian country, an executive told local media in September 2022.
Vietnam has proved its rising status as a manufacturing base for BYD, dubbed China’s Tesla, with the Chinese giant planning to build a car parts plant in the country for supply chain diversification, with investment of about $250 million, Reuters reported last month.
Earlier this month, Vietnam’s TMT Motors signed a deal with the GM-(Saic-Wuling) joint venture to exclusively manufacture, assemble, and distribute Wuling mini electric vehicles in the Southeast Asian nation, TMT Motors announced last Saturday.
The first product is the Wulung HongGuang MiniEV, the best-selling mini electric vehicle in the world in 2020-2022, according to automotive market researcher Jato Dynamics.
- Read More
Vietnam to build Ninh Thuan nuclear power plant within 5 years
Vietnam strives to complete building its Ninh Thuan nuclear power plant in five years (by 2030), towards the 100th anniversary of the Communist Party of Vietnam (1930-2030).
Energy - Thu, January 16, 2025 | 5:06 pm GMT+7
Thailand’s Central Retail opens $11 mln GO! hypermarket in central Vietnam
Thailand’s leading retailer Central Retail opened a hypermarket per its GO! model in Vietnam’s south-central province of Ninh Thuan on Wednesday.
Industries - Thu, January 16, 2025 | 3:29 pm GMT+7
Investment Support Fund: A Strategic leap for Vietnam's economic future
The Vietnamese Government's Decree No. 182/2024/ND-CP, which outlines the establishment, management and use of the Investment Support Fund, represents not just policy instruments for attracting investment but also foundations for advancing strategic sectors and elevating the country's position in the global economy, writes Tran Anh Son, tax & legal director, Global Innovation and Investment Incentives (Gi3), Deloitte Vietnam.
Economy - Thu, January 16, 2025 | 2:55 pm GMT+7
Vietnam PM orders appraisal of tax policies to curb property speculation
The Ministry of Finance needs to study tax policies to curb property speculation in line with Vietnam’s socio-economic conditions and international practices, Prime Minister Pham Minh Chinh has requested.
Real Estate - Thu, January 16, 2025 | 2:40 pm GMT+7
Vietnam’s budget carrier VietJet can pilot China's Comac aircraft on some routes: Deputy PM
China’s state-owned aerospace manufacturer Comac and Vietnam’s budget airline VietJet should collaborate with a Chinese airline having Comac aircraft to pilot Comac aircraft on some of VietJet routes, says Vietnamese Deputy Prime Minister Tran Hong Ha.
Companies - Thu, January 16, 2025 | 12:26 pm GMT+7
Offshore wind power investors can sell entire projects in Vietnam: draft decree
A draft decree on offshore wind power being compiled by Vietnam’s Ministry of Industry and Trade will facilitate investors to sell their projects or stakes.
Energy - Thu, January 16, 2025 | 11:27 am GMT+7
Build your own sales channels if e-commerce competition too harsh: NextTech exec
If e-commerce competition is too harsh, Vietnamese businesses should develop their own sales channels and customer databases, says Nguyen Hoa Binh, founder and chairman of NextTech Group, a leading technology startup in Vietnam.
Economy - Thu, January 16, 2025 | 9:05 am GMT+7
Indonesia moves to secure domestic pharmaceutical independence
Indonesia's Health Ministry is working to achieve domestic pharmaceutical independence through research and development, production, and market guarantees.
Southeast Asia - Thu, January 16, 2025 | 8:09 am GMT+7
Malaysia cooperates with UAE in AI development, digital transformation
Malaysian Prime Minister Anwar Ibrahim has said that the country must embark on digital transformation within its economic and financial sectors, prioritizing areas such as blockchain and cryptocurrency to remain at the forefront of the digital age.
Southeast Asia - Wed, January 15, 2025 | 11:00 pm GMT+7
Thai billionaire seeks to increase stake in Vietnam dairy gaint Vinamilk
F&N Dairy Investments Pte. Ltd - an entity associated with Thai billionaire Charoen Sirivadhanabhakdi - has registered to purchase nearly 20.9 million shares of Vietnamese dairy giant Vinamilk (HoSE: VNM).
Companies - Wed, January 15, 2025 | 10:54 pm GMT+7
Vietnam PM leaves for official visits to Poland, Czech, WEF meeting
Prime Minister Pham Minh Chinh departed Hanoi on Wednesday afternoon for official visits to Poland and the Czech Republic, attendance at the 55th World Economic Forum (WEF) Annual Meeting in Davos, and bilateral meetings in Switzerland.
Politics - Wed, January 15, 2025 | 10:31 pm GMT+7
Malaysia’s manufacturing sector sees positive signs in 2025
Malaysia’s manufacturing sector is forecast to recover well in 2025 as global trade dynamics and geopolitical shifts influence market trends.
Southeast Asia - Wed, January 15, 2025 | 10:06 pm GMT+7
Thailand posts record investment last year
Thailand saw record investment figures for 2024, with applications exceeding THB1.13 trillion ($32.5 billion), the highest in the past decade, according to the country’s Board of Investment (BOI).
Southeast Asia - Wed, January 15, 2025 | 10:05 pm GMT+7
Indonesia considers reducing trade tariffs with US
Indonesia is planning to lower trade tariffs with the U.S. as President-elect Donald Trump prepares to implement a universal tariff policy.
Southeast Asia - Wed, January 15, 2025 | 9:58 pm GMT+7
Malaysia eyes greater sustainability in palm oil sector as EU law looms
The Malaysian government said on Tuesday that it will encourage sustainability while maintaining the competitiveness of its palm oil industry ahead of the implementation of the EU’s anti-deforestation law at the end of this year.
Southeast Asia - Wed, January 15, 2025 | 9:52 pm GMT+7
T&T Group proposes 3,400 hectare urban, logistics, aviation industry complex in central Vietnam
Vietnamese conglomerate T&T Group and Singaporean consultancy firm CPG Corporation have proposed an urban-commerce-service-logistics-aviation industry complex covering 3,400 hectares in the central province of Quang Tri.
Real Estate - Wed, January 15, 2025 | 5:17 pm GMT+7