Prime minister approved Vietnam's automobile industry development project till 2010 and vision to 2020, Ngo Quoc Tru, vice head of Ministry of Industry and Trade's Heavy Industry Department reported.
Import expenditure of completely-built cars in February continued on the downtrend. In the first two months of this year, Vietnam invested US$94 million in importing 5,900 autos.
From now up to March 31, 2010, Vietnam International Bank
(VIB) cooperated with Ford Vietnam Automobile Co to conduct a promotion programme for the Ford's car purchasers.
Ssangyong Motor has clinched a deal to export 15,500 Kyrons to Vietnam over the next five years, as it embarks on a revival plan and looks to attract investors.
To curb the trade deficit, the Ministry of Industry and Trade is seeking agreements with related agencies to continue restricting importations of cars with less than 16 seats.