The Ministry of Industry and Trade wants to retain a regulation imposing stringent conditions on car imports to support domestic production. A car body being produced in a plant in Hai Phong – Photo by VnExpress In a recent report to the Prime Minister, the ministry said that the decree, which set tough conditions on the origin, testing and quality for car imports, has played an important role in protecting the production and assembly of cars in the country. The decree came into effect in January 2018. In 2018, the number of domestically assembled cars was 3.72 times bigger than imports, up from 2.5 times in 2017. Local production rose 10 percent in the first half of 2018, the ministry said. According to data from the Vietnam Automobile Manufacturers’ Association (VAMA), imported cars plunged 49 percent in the same period. However, this advantage could not be maintained in the long term, and the domestic assembly to import ratio has already fallen back to 1.74 times in the first half of 2019. As a result, it is important to keep the decree to continue managing car imports, the ministry noted. Domestically assembled cars must also comply with the same quality conditions,… Read full this story
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