Business

TMV’s first batch of automobiles enters Vietnam

Toyota Motor Vietnam (TMV) has imported 200 cars through Hiep Phuoc Port in HCM City after six months of suspending imports to Vietnam.
TMV’s first batch of automobiles enters Vietnam ảnh 1Illustrative image (Source: internet)

Hanoi (VNS/VNA) - Toyota Motor Vietnam (TMV) has imported 200 carsthrough Hiep Phuoc Port in HCM City after six months of suspending imports to Vietnam.

This is the first batch of automobiles from the Japanese automaker since theGovernment’s decree 116 went into effect early this year.

The firm previously said they were unable to meet Vietnam’s stringent checks ofimported vehicles under Decree 116 on the production, assembly, import andwarranty of automobiles, which was issued just as Vietnam eliminated tariffs onautomobiles imported from ASEAN members. 

Under which, this new batch of automobiles, imported from Thailand, will enjoyzero percent import duties and have to pay only special consumption tax andvalue-added tax.

The firm is making necessary import procedures for the batch, which is expectedto roll out to the market next month.

According to report from the General Department of Customs, the total car importsreached 8,534 units, worth more than 223 million USD. Of which, imports fromThailand made up 84.5 percent, reaching 7,212 units.-VNS/VNA
VNA
#Toyota Motor Vietnam (TMV) #import #cars #Hiep Phuoc Port #automaker #production #assembly #automobiles #tariffs #ASEAN #zero percent import duties #special consumption tax #value-added tax #vietnamplus #Vietnam News Agency
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