LookAtVietnam Bridge - The annual International Motor Vehicles and Petroleum Products Show will take place at the Ho Chi Minh City International Exhibition and Convention Centre from May 21 to 25.

More than 100 domestic and international companies such as Hyundai, Vinaxuki. Forcia, Doongssung and Open Asia Heavy Equipment will introduce cars, buses, trucks, motorcycles and special purpose vehicles at the show, which will also present products from support industries including engines, tyres, lubricants, additives and car-care products.

“The automotive industry plays an important role in the economic development of the country, driving capital and infrastructure construction and other technological sectors in the transportation system,” said Deputy Minister of Transport Tran Doan Tho.

“I hope the event will be a meeting place for companies and entrepreneurs who wish to obtain updated information about market demand and forecast opportunities as well as challenges facing the sector,” Tho said.

With about 200 booths covering an area of 8,000sq.m, the show is being organised by the ministries of Industry and Trade and of Transport, the Vietnam Society of Automotive Engineers and the Hanoi Marketing&International exhibition Co.

According to the Ministry of Industry and Trade, the automotive market is expected to grow 16 percent per year until 2010 period and 8 percent per year during 1010-20. The motorbike market is growing at a rate of 20-30 percent per year, a rate expected to be maintained over the next decade.

A ministry development plan has given support industries in the automotive industry priority through 2020.

(Source: VNA)