Vietnam's Motorcycle Industry Eyes US$300Mln Export Earnings in 2010
The Vietnamese motorbike industry targets to rake in US$300 million from exports in 2010, said the national motorbike industry development strategy.
In addition, the Vietnamese motorbike industry targets to raise the locally sourced parts content in motorbike products to over 90 per cent by 2010.
Many international giants, which are operating in Vietnam, are turning Vietnam into a motorbike supplier for regional countries. Meanwhile, Vietnamese-invested firms like Vinamotor are seeking overseas markets after the domestic sales are falling down.
Honda Vietnam, the largest motorbike maker in the country, reported to export 39,000 motorbikes and 300,000 sets of components worth US$18 million in the first half of this year.
Vietnam is now home to 52 motorbike producers which can turn out three million units a year.
The Ministry of Industry is likely to license more motorbike production firms, the Cong Nghiep Viet Nam (Vietnam Industrial Times) newspaper reported.
According to the General Statistics Office (GSO), the Vietnamese industry manufactured 1.3 million motorbikes in the first eight months of this year, up 8.2 per cent year on year.
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