The domestic automobile industry was forecast to thrive, given the Government’s supports in tax policies for imported automobile components coupled with the increasing income of citizens.
|Cars produced at a plant of Ford Vietnam in Hai Duong Province. The domestic car industry was benefiting from the Government’s support policies. — VNA/VNS Photo Tran Viet|
According to a report by the Viet Dragon Securities Corporation (VDSC), the domestic automobile industry was benefiting from three policies.
The first was a 50 per cent reduction in registration fees for domestically-produced or assembled vehicles in effect from June 28 to the end of this year.
The second policy was a decree allowing automakers who met the requirements of outputs to enjoy zero import tariffs for automobile components which could not have been produced domestically, cutting production costs by 2-2.5 per cent.
The last policy was the extension of the deadline for the payment of