Growing at an annual rate of 20% to 30%, Vietnam’s automotive sector is the fourth largest contributor to the country’s GDP.
The Vietnamese government supported the automotive industry by introducing incentive policies for auto parts manufacturing and removing import tariffs for auto parts and accessories.
Strategically located in ASEAN for procuring raw materials and supply, with 13 Free Trade Agreements (FTAs) and skilled, low-cost labour, Vietnam has become an attractive market for investment.
Should OEMs move ASEAN auto parts manufacturing to Vietnam?
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