Indonesia to cut automobile import by 700 million USD World

Indonesia to cut automobile import by 700 million USD

The Indonesian Ministry of Industry has set the goal to reduce automobile import value by about 700 million USD this year from 3.3 billion USD in 2017 through import restrictions, especially targeting luxury cars.
Foreign goods puts pressure on domestic businesses Business

Foreign goods puts pressure on domestic businesses

The adoption of a zero percent tariff from January 2018 among member countries of the Association of Southeast Asian Nations (ASEAN) will create opportunities for Vietnamese businesses to seek markets in the region, but competition in the domestic market will also become fiercer with the flood of imports from ASEAN region.
Indian cars flood VN market Business

Indian cars flood VN market

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.
Laos removes automobile import duties ASEAN

Laos removes automobile import duties

Laos has recently removed import tariffs on automobiles, part of its measures to lift trade barriers before the ASEAN Economic Community is formed later this year.
Business

Viet Kieu car imports must clear customs

Vehicles shipped to Vietnam’s ports that are not eligible for import under the mode of movable assets of repatriating overseas Vietnameses (Viet Kieu) will be fined and then confiscated if they are not re-exported.
Auto imports double in January Business

Auto imports double in January

Vietnam imported over 6,000 automobiles in January of this year, nearly twice as many as the same month last year, according to the National Statistics Office.
Business

Luxury goods imports soar in first quarter

In the first quarter of the year, Vietnam spent billions of US dollars on imports of luxury items including automobiles, motorbikes and electronic goods, contributing to the high trade deficit of 3.5 billion USD.