Vietnam's car market has second-fastest growth in worldVietNamNet Bridge - Vietnam was the second fastest growing car market in the world in 2016, with imports favored by most Vietnamese buyers. Vietnam was the second fastest growing car market in the world in 2016, with imports favored by most Vietnamese buyers. Tran ThuyJATO, a UK-based market analysis firm, in its latest report, showed that the Vietnamese market grew by 27.1 percent in 2016, becoming the second fastest growing market in the world, just after Singapore.JATO said 84.24 million cars sold all over the world, including 228,478 cars sold in Vietnam. Car trading ranked second among the business fields which most attracted FDI with 505 projects licensed in the year.The Ministry of Planning and Investment, noting the surge in the FDI in car trading, attributed this to the new policies and tariff cuts.Investors now can see great business opportunities in the Vietnamese car market. The high population and improved income both promise ideal opportunities for car traders.In January 2017, the number of cars with nine and fewer seats from ASEAN increased by 234 percent compared with the same period last year.

Source: VietNamNet News February 21, 2017 05:07 UTC