On June 7th, the Government Office issued a directive from Deputy Prime Minister Le Minh Khai to the Minister of Finance and the Minister of Justice regarding the registration fee for domestically produced and assembled cars.
Accordingly, the Deputy Prime Minister has instructed the Ministry of Finance to lead and coordinate with relevant agencies to promptly draft a Government Decree on the registration fee for domestically produced and assembled cars, with a 50% reduction to be applied from July 1st until the end of the year. The draft is to be submitted to the Government before June 15th.
“The Ministry of Justice is required to promptly review the draft decree upon receiving the complete documentation from the Ministry of Finance, ensuring its submission to the Government before June 15th,” the document stated.
These ministries are responsible to the Government and the Prime Minister for the quality and progress of their assigned tasks, ensuring compliance with deadlines and no delays.
Prior to this, the Vietnam Automobile Manufacturers Association (VAMA), the Vietnam Association of Mechanical Enterprises (VAMI), the People’s Committees of Quang Nam province and Ninh Binh province had sent a letter to the Prime Minister, the Ministry of Industry and Trade, the Ministry of Finance, and relevant agencies, in which they made recommendations and proposals for support policies for economic and social recovery and development in 2023.
According to their recommendations, these agencies proposed that the Government extend the deadline for special consumption tax payments for automobile manufacturers and assemblers this year. They also proposed continuing the 50% reduction in registration fees for domestically produced and assembled cars.
Shortly thereafter, the Vietnam Automobile Importers Association (VIVA) also submitted a petition to the Vietnamese National Assembly, the Ministry of Industry and Trade, the Ministry of Finance, and the Government Office, suggesting preferential registration fee rates for imported cars.
According to a report by VAMA, the entire Vietnamese market consumed a total of 92,801 cars of all types in the first four months of the year, a 30% decrease compared to the same period in 2022. The sales volume of domestically assembled cars reached 50,017 units, a 39% decrease compared to the same period last year. The sales of imported cars in the Vietnamese market were also lower by 16% compared to the first four months of 2022, reaching only 42,784 units by the end of the first quarter of the second quarter.
The weakened purchasing power of the market is believed to be one of the reasons that have affected both domestic car production and the importation of completely built-up vehicles from abroad in recent months.
@Zing News
Source: Vietnam Insider