Bui Thi Thanh An of the Viet Nam Trade Promotion Agency (Viettrade), which organised the seminar, said China was a market with huge potential because of the large purchasing power of its population of 1. It mainly buys agro-forestry products, seafood and electronic components, while Myanmar imports steel products, electronic equipment, pharmaceuticals, industrial products, chemicals, computers, plastics, cosmetics and machine oil. The seminar, titled “Developing a sustainable and viable Viet Nam automobile industry and experiences in some Southeast Asia countries”, was part of the five-day Viet Nam Motor Show 2009 that opened on the same day. The Government had been very supportive of the local auto making industry, Deputy Minister of Industry and Trade Le Duong Quang said but added there had been strong competition from imported cars, especially from developed countries such as Japan and America. Deputy head of Tax Policy Department under the Ministry of Finance Pham Dinh Thi pointed to general guidelines of tax policy for the industry, saying tax policies must fit both international commitments and domestic automakers. Dinh Nguyen Hoai Phuong, head of Sacombank Securities Co?s international business and public relations department, told Viet Nam News that the firm would reschedule its IPO sometime in the future and continued to plan to list its shares on the stock exchange. read more

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