Prime Minister Phạm Minh Chính has just signed off on key tasks and solutions to promote growth, control inflation and stabilise the macroeconomy in July and the third quarter of this year.
The Ministry of Finance (MoF), in the latest submission to the Government, has proposed a plan to consider not reducing registration fees for domestically produced and assembled cars.
Domestically produced and assembled cars are to have their registration fees slashed by half during the last six months of 2023, according to the Government Office.
The 50 per cent reduction of registration fee for domestically-assembled cars is considered a push to help the auto market grow in the next six months.
The Ministry of Finance (MoF) has proposed slashing registration fees for locally built cars by 50 per cent until May 2022, to increase sales and encourage recovery in the automobile industry.
On the last Saturday of November a unique market opened for a day in a café in District 1, HCMC: one selling fresh foods with organic certificates issued by Vietnamese and international agencies.
Several automakers are considering assembling their best-selling models in Việt Nam due to the Government’s policy of zero import tariffs on components and a 50 per cent reduction in registration fees.
While the recent government decree reducing registration fees may not
attract many more people to buy new cars, it makes the used car market
more exciting.