Vietnam spent 195 million USD on importing about 12,000 completely built-up cars in May, an increase of 33 percent in quantity compared to April and 12 percent against the same period last year.
Hanoi (VNA) 🐽- Vietnam spent 195 million USD on importing about 12,000 completely built-up cars in May, an increase of 33 percent in quantity compared to April and 12 percent against the same period last year.
According to the General Statistics Office, the number of car imports in the first five months of this year was 41,000 units, worth a total 927 million USD.
Auto businesses said imports increased sharply as consumers wanted to buy cars before Government tax hikes on imported automobiles come into effect.
Under the new tax, which will apply beginning January 1, tax levels of 55 percent, 90 percent, 130-150 percent will be levied on cars with a cylinder capacity of 2.5 litres, 3 litres, 4-6 litres, respectively.
Currently, 2.5 litre cars are taxed at 50 percent, while 3 litre and 4-6 litre cars are both taxed at 60 percent.
ℱ The tax changes will increase the price of some cars by tens of thousands of USD.-VNA
Imported cars are expected to become more expensive by around 5 percent if the finance ministry's draft plan to adjust the calculation of special consumption tax on imported automobiles is approved.
Vietnamese auto businesses imported about 5,000 completely built-up unit (CBU) cars, worth 131 million USD, in February, 1,000 cars less than the previous month, the General Statistic Office (GSO) sai
Vietnam’s automobile sales reached 11,718 units in February, down 49 percent against the previous month, according to the Vietnam Automobile Manufacturers' Association (VAMA).
Vietnam’s automobile sales in March shot up 112 percent from the previous month, amounting to some 24,802 units, the Vietnam Automobile Manufacturers’ Association (VAMA) announced on April 8.
Auto importers in Vietnam petitioned the Prime Minister and relevant sectors to consider problems related to some revised articles and supplements in the Law on Special Consumption Tax.
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PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
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On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative photo (Source:Internet)
