Vietnamese automakers dream of cars rolling on streets of Myanmar, PhilippinesVietNamNet Bridge - Vietnamese auto manufacturers are trying to increase the localization ratios in their products in order to enjoy preferential tariffs when exporting their cars to ASEAN countries. It is expected that in the first phase of the project, 50,000 cars a year, will be churned out. Vietnamese auto manufacturers are trying to increase the localization ratios in their products in order to enjoy preferential tariffs when exporting their cars to ASEAN countries. This is a strategy of South Korea’s Hyundai: turning Vietnam into the Hyundai automobile manufacturing center in SE Asia. According to Duc, automobile manufacturers will not focus on the domestic market only.

Source: VietNamNet News May 27, 2017 01:07 UTC