Vietnamplus

Vietnam imported 14,134 cars worth over 300 million USD in February, the General Department of Vietnam Customs reported.

Despite initial hiccups, most of Vietnam’s car firms are now complying with import rules that were tightened early last year, according to Deputy Prime Minister Trinh Dinh Dung.

Vietnamese businesses imported nearly 10,000 completely built cars in August, up 50 percent compared with the previous month, according to the General Department of Vietnam Customs.

Auto businesses are concerned about Vietnam’s future policy orientation with regard to the auto industry, which they think will affect their business strategy.

The General Statistics Office of Vietnam (GSO) estimated that imports of completely built-up cars in April will likely jump in both volume and value compared to the previous month.

The Ministry of Transport issued a circular to guide the implementation of Decree 116 that tightens control over quality, technical safety and environment protection of imported autos.

Vietnamese businesses spent some 200 million USD importing 7,000 completely built-up units (CBUs) in November, according to an estimate of the General Statistics Office (GSO).

With a continuous year-on-year decline in sales this year, the domestic auto industry is unlikely to achieve the 10 percent growth predicted by the Vietnam Automobile Manufacturers’ Association.

The Ministry of Finance plans to cut import taxes on auto parts, in line with the World Trade Organisation (WTO)’s rules.

Vietnam imported nearly 4,800 Indian cars in the first quarter of this year, increasing more than threefold compared with the same period last year, according to the Vietnam Customs.

The Ministry of Industry and Trade (MoIT) has decided to abolish a number of procedures for importers of cars with nine seats or less.

Vietnam’s auto industry is anxiously waiting for the Government’s final decision on the auto import permission law.

Auto importers in Vietnam petitioned the Prime Minister and relevant sectors to consider problems related to some revised articles and supplements in the Law on Special Consumption Tax.

The price of domestic cars have soared since the beginning of this year due to the Government's adjustment of special consumption taxes on imported automobiles.

A number of authorised auto importers and distributors in Vietnam have confirmed they’ll attend the 2016 Vietnam International Motor Show (VIMS) scheduled for October 26-30 next year.

The Government wants to raise the special consumption tax on vehicles with high engine displacement, according to a statement it delivered to the National Assembly recently.

The 2015 Vietnam International Motor Show (VIMS), the largest-ever event of its kind, opened at the Vietnam Exhibition and Fair Centre in Hanoi on October 9.