Việt Nam spent more than US$2.15 billion importing 94,000 cars last year, marking a year-on-year decrease of 16.8 per cent in volume and 9.6 per cent in value.
Toyota Việt Nam is one of the first firms to ask the Ministry of Industry and Trade to issue business certificates in accordance with new government Decree No 116/2017/NĐ-CP.
Car sales in September plummeted, the Vietnam Automobile Manufacturers’ Association (VAMA) said on Tuesday.
The Ministry of Industry and Trade (MoIT) has released a draft decree that all businesses can import cars provided they fulfil the required conditions and get a car import licence.
Listed automobile companies will face a challenging and volatile year in 2017 on policy changes and rising competition from imported products.
According to the General Statistics Office (GSO), import turnover for cars in December 2016 increased in both quantity and value, with the year’s total annual car imports reaching $2.3 billion.
The Ministry of Industry and Trade (MoIT) said it will abrogate its circular on supplementary procedures for importers of passenger cars with nine seats or less, as soon as the Ministry of Transport issues regulations with similar effect for road vehicles.