Government mulls safeguards to protect domestic carmakers Business

Government mulls safeguards to protect domestic carmakers

Deputy Prime Minister Trinh Dinh Dung has asked the Ministry of Industry and Trade (MoIT) and relevant agencies to study the possibility of applying safeguards to protect the domestic automobile manufacturing industry from looming zero-tariff car imports.
Ministry proposes tax hike on petroleum Business

Ministry proposes tax hike on petroleum

The Ministry of Finance has proposed, in a draft law, almost tripling the environmental protection tax on oil and gas consumption from the current 3,000 VND (0.13 USD) to 8,000 VND per litre. The draft will be submitted to the Government for approval in June and the National Assembly in October.
2016 car import turnover hits 2.3 billion USD Business

2016 car import turnover hits 2.3 billion USD

Vietnam’s car import turnover in December 2016 increased in both quantity and value, making the year’s total annual car imports finish at 2.3 billion USD, according to the General Statistics Office.
High-engine motorbikes stir domestic market Business

High-engine motorbikes stir domestic market

The recent launch of motorbike models with high-engine displacement has attracted the Vietnamese and stirred the domestic market, even though import prices are 2-3 times higher than world prices.
Finance Ministry steps up customs, tax reforms Business

Finance Ministry steps up customs, tax reforms

The deputy minister of finance urged the general departments of customs and taxation to further administrative reform efforts to facilitate businesses, which still have several questions about tax and customs procedures.
Automobile sales decrease in June Business

Automobile sales decrease in June

Vietnam’s automobile sales in June totaled 24,421 units, dropping six percent against the previous month, announced the Vietnam Automobile Manufacturers’ Association (VAMA) on July 8.
Auto imports from India surge Business

Auto imports from India surge

The import of completely built-up (CBU) autos from India in May jumped more than 20 times from February to over 3,500 units with an average price of only 112 million VND (4,870 USD).