New regulation of Vietnamesee government to limit the automotive imports

News24xx.com - For the past seven years, Vietnam has become a major market of car-producing countries in Asia, such as India, South Korea, Thailand and Indonesia.

During the period of 2011 - 2017, Vietnam has imported 528,200 units of cars completely built-up (CBU) worth of USD 11.7 billion or approximately IDR 165 trillion.

Vietnam's Customs Department said of the figure, a total of 236,520 units of cars are the type of passenger car under the nine seats valued at about USD 3.1 billion. Quoted from Xinhua

And until the end of last year, thanks to the abolition of tariffs of production units from Asean countries, Thailand and Indonesia have exported many cars to Vietnam.

But the Vietnamese government issued a regulation limiting automotive imports, but Indonesian automotive products could return to Vietnam after talks at the 3rd Indonesia-Vietnam Joint Commission Meeting in Hanoi last month.

The level of local content in cars made in Thailand and Indonesia is already quite high, ie more than 80 percent, while Vietnam is only 7-10 percent, said the Ministry of Industry and Trade of Vietnam.

In the first four months of the year, Vietnam imported fully automated automotive products including cars, trucks and buses, and assembly components worth nearly USD 1.2 billion, down 32.2 percent this year.

 

 

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