Vietnam to Reduce Import Tax on Cars, Car Parts
Vietnamese Deputy Prime Minister Hoang Trung Hai has recently asked the Ministry of Finance to submit a roadmap to reduce import tax on cars and car parts and special consumption tax in a bid to boost the local car industry.
Hai required the ministry to issue financial incentives for the industry, focusing on manufacture projects of high value-added products, the Transport newspaper published by the Ministry of Transport cited the deputy PM as saying.
He assigned the Ministry of Trade and Industry to maintain regular supervision over the investing, assembling and manufacturing of all economic sectors in accordance with the country’s development plans and WTO commitments.
Earlier, Hai asked the Ministry of Planning and Investment to call for more foreign investments into the country’s car part production. (Transport)
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