Sunday, April 5 2020


New auto sector strategy released

Update: February, 17/2016 - 08:20

An auto production line at Thanh Cong Huyndai Auto Plant in Ninh Binh Province's Gian Khau Industrial Zone. — VNA/ VNS Photo Danh Lam

HA NOI (VNS) — Prime Minister Nguyen Tan Dung has issued a decision regarding the mechanisms and policies needed to implement the strategy for Viet Nam's automobile industry development through 2025, with a vision toward 2035.

The measures will also cover the master plan for Viet Nam's automobile industry development through 2020, with a vision toward 2030.

Among the policies outlined are assistance in terms of credit, demand stimulation and market development.

Investment projects to produce automobile parts and assemble automobiles by domestic enterprises will be given access to loans provided by the Vietnam Development Bank in line with regulations.

Domestic suppliers of components and parts in the global automobile manufacturing chain will be entitled to export credit in line with current regulations.

Organisations and individuals buying small and multifunctional vans for use in agricultural production in rural and mountainous areas will also receive support under the PM's Decision 68/2013/QD-TTg.

Tax and land incentives will be also devised for the automobile industry in line with Viet Nam's laws on investment and import-export tariffs, as well as international tax commitments and free trade agreements the country has signed up to. — VNS

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