Business

Local car market sees rise in Thai imports

Thailand has become the leading exporter of automobiles to Vietnam in the first four months of this year, with 10,155 units, accounting for 35 percent of total car imports.
Local car market sees rise in Thai imports ảnh 1At a car showroom in HCM City (Source: sggp.org.vn)

Hanoi (VNA) – Thailand has become the leading exporter of automobiles to Vietnam in the first four months of this year, with 10,155 units, accounting for 35 percent of total car imports, according to the Vietnamese Ministry of Industry and Trade.

The increase was buoyed by preferential import tax policies, under Vietnam’s commitments to the ASEAN Trade in Goods Agreement, the Ministry said.

Under the agreement, the import tax on automobiles from ASEAN members to Vietnam would fall from 50 percent to 40 percent by 2016, to 30 percent by 2017 and zero percent by 2018.

Vietnam's special consumption tax on cars will fall to 40 percent from 45 percent on July 1.-VNA

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#car market#Thai imports#preferential import tax#automobiles
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