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The Ministry of Transport (MoT) and the United National Development Programme (UNDP) and the Japanese Embassy in Vietnam jointly held a conference in Hanoi on November 10 to discuss ways to accelerate the transition to electric vehicles.
The recent decline in Vietnam’s automobile consumption and its drop to the fifth place in Southeast Asia can be attributed to both external and internal factors, car experts said.
Car dealers have had a difficult first quarter as the impact of macro policies, high interest rates, and tightening credit space has caused a sharp decline in vehicle demand in Vietnam.
Green and cleaner transport initiatives are being promoted in Vietnam, with more top brands hoping to offer the future of electric vehicles. However, the inevitable complexity of modernising the country’s infrastructure will have to be addressed sooner rather than later.
If inflation cannot be controlled and Vietnam has to use a “high-dose drug”, such as an interest rate increase, serious consequences may occur.