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Business prospects in China and Vietnam for SUVs The relevant facts and figures for China and Vietnam are tabulated below: China Vietnam Economic GNP ($ billion)
excellent reputation abroad. Currently motorcycles are mainly being exported to Singapore, Greece, Iran, Vietnam, Turkey, Argentina, Malta and Mauritius. An example
Submitted by skrao_pdb on February 9, 2008
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The relevant facts and figures for China and Vietnam are tabulated below:
China Vietnam
Economic GNP ($ billion) 2641.6 58.1
Per capita Income (2006) ($) 2110 727
GDP growth rate 11.4 8.1
Tax rate 25% 28%
Interest rates 6.12% 8.25%
Inflation (2007) (%) 4.8 8.3
Social Income Distribution (Gini coeff.) 0.47 0.432
Literacy 90.9 90.3
Min wage / month ($) 65 45
Labour availability Abundant Abundant
International Exchange Rates (1US $ = ) 7.61 Rmb 16119 Dong
Exports (2007) ($ billion) 1200 39.6
Imports (2007) ($ billion) 956 44.4
FDI Inflow ($ million) 69468 2315
Demographics Population (million) 1322 85.3
Population growth rate 0.61% 1%
Proportion Working population 72% 68%
Other Indicators World Competitiveness ranking 34 68
Vietnam
Vietnam is ranked second in the Business Environment Ranking of the Asia -Pac region this year on the back of sweeping changes in the regulatory environment as it enters the WTO and very low rate of vehicle ownership along with rising incomes.
Market: Vietnam reported sales of 80,392 vehicles last year a surge of 97 percent over 2006 and with expected sales of 120000 units in 2008. The government has imposed a consumption tax on auto companies to fight inflation by suppressing demand and the import duties are amongst the highest in the region. In order to offset these effects some domestic auto companies have implemented a price cut which does affect profitability.
Competition: Toyota is one of the major players in here with almost 42.6% market share and the other major players here include Honda Motors, KIA Motors and GM Daewoo. Despite the presence of the major players, the market presents a good scope for entry given the rising per capita income and also the fact that majority of cars here are imported as CBUs.
Macro-economic factors: Apart...
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