Forum discusses auto industry cooperation with Indonesia

DAEWOO HOTEL, HANOI

02 Juni 2017

HANOI - Embassy of the Republic of Indonesia in Vietnam held a business forum on the prospects of the Vietnam Automotive Industry in Hanoi today, Friday (2/6/2017). A number of automotive companies from Indonesia and Vietnam are present in this forum. Company from Indonesia a.l. PT Toyota Motor Manufacturing Indonesia, PT Astra Otoparts Tbk, PT Astra Visteon Indonesia, and PT Amico Era Bumiindo. While the company from Vietnam a.l. Yamaha Motor Vietnam, Honda Trading Vietnam, Veam, Toyota Tsusho, and Akebono Brake Astra Vietnam Co., Ltd. Indonesian Ambassador to Vietnam Ibnu Hadi said the purpose of this business forum is to take advantage of the fast growing Vietnamese market and strengthen the Indonesia-Vietnam cooperation in trade and investment, especially the automotive sector. According to Ibnu, with a population of more than 92 million and the growing middle class, Vietnam is a potential country for the motor vehicle market. Based on data obtained from the Embassy, in the period from January to March 2017, Vietnam imported motor vehicles worth US $ 487.594 million (26,506 units), and spare parts valued at US $ 831,446 million. Of that amount, imports of motor vehicles from Indonesia were US $ 76.56 million (4,409 units), and spare parts US $ 41.59 million. Until April imports of motor vehicles from Indonesia amounted to US $ 102 million (5,981 units). This number has exceeded the number for a year in 2016. For 2016, Vietnam's total imports of motor vehicles amounted to US $ 2.335 billion (113,567 units), and spare parts US $ 414.238 million. Of that number imports of motor vehicles from Indonesia US $ 44.88 million (3,884 units), and spare parts US $ 151.28 million.