16:44 | 01/08/2017 Cooperation
Vietnamese leaders are always willing to back stronger trade and economic ties with the US and have vowed to create a transparent and favourable business climate for foreign firms, including those from the US, said a top lawmaker.
While receiving President of Ford ASEAN Mark Kaufman in Hanoi on July 31, National Assembly Vice Chairman Phung Quoc Hien congratulated Ford Motor Company and Ford Vietnam on their recent achievements, adding that Ford products have become more popular on the Vietnamese market.
Hien believed that the recent success would create momentum for co-operation prospects between Vietnam and the US, particularly in economic and trade partnership.
For his part, Kaufman spoke highly of Vietnamese leaders’ attention and assistance given to businesses through preferential policies with a view to developing a sustainable automobile industry.
Kaufman said the local automobile industry will undergo a drastic change in 2018, when Vietnam opens its market in conjunction with the ASEAN Free Trade Area.
The opening of the market will culminate in higher competition pressure for car manufacturers, including Ford, he added.
Kaufman asked Vietnamese authorities to consider special consumption taxes on pickup trucks as well as tariffs on auto components imported from outside the ASEAN region so as to ensure the healthy development of the automobile market.