Connect with us
//pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({});

Vietnam

Zero import tax expected to raise Vietnam’s car ownership

Tax for cars imported from ASEAN has been slashed to 0%, which is expected to raise the country’s car ownership rate which remains low compared to regional averages.

Avatar

Published

on

Owners of many auto showrooms claimed lots of customers had made deposits to buy ASEAN-imported cars while awaiting zero import duties.

Dinh Quoc Dinh in Thu Duc District, HCM City, said he would put down a deposit to buy a Vios which is up to VND48-58 million cheaper now than before January 1.

To prepare for the zero import duties, a large number of ASEAN-imported cars have been brought to Vietnamese ports. At present, there are around 1,700 cars and pickup trucks at Hiep Phuoc Port in HCM City with the majority imported from Thailand and Indonesia.

Bui Xuan Truong, director of Truong Thanh Auto, said that the zero import duties could attract more customers to buy cars and the car sales are expected to boom early this year. Thailand and Indonesia will benefit the most among ASEAN countries from the zero import duties policy as they have many car models which meet the localisation rate of more than 40%.

Apart from this, the Special Consumption Tax reduction will be applied for low engine displacement vehicles, while the increase of this tax will be for high engine displacement vehicles. This will create opportunities for middle-income people in Vietnam to buy their own vehicles.

Following the lower taxes, prices of many car models have fallen considerably this year. Hyundai Thanh Cong showroom has announced to cut the price of Hyundai Grand i10 by VND20-40 million (USD909-1,818). Toyota Vietnam has also announced the car prices this year with the reduction ranging between VND24-58 million against 2017.

According to the survey by the marketing strategy consulting firm Solidiance released in last June, the car ownership ratio in Vietnam was only 16 cars for 1,000 people. This rate was lower than Malaysia’s 341 cars, Thailand’s 196 cars and Indonesia’s 55 cars.

One of the reasons is because prices are still high. Car manufacturing, as well as supporting industries, remains weak so Vietnam has to import completely built units. Moreover, poor…

Source link

0/5 (0 Reviews)
Comments

Investment

Vietnam sustains FDI growth amid US-China trade war

Japan was the largest source country, with 429 newly granted FDI projects totalling $8.5bn, MPI figures show

Avatar

Published

on

Strong FDI figures in 2018 mark the sixth straight record year, following a string of strong realised FDI capital figures, estimated at $17.5bn in 2016, $15.8bn in 2015 and $14.5bn in 2014.

(more…)
0/5 (0 Reviews)
Continue Reading

Asean

ASEAN seeks measures to push sustainable tourism development

ASEAN members gathered in Vietnamst ouching upon measures to speed up sustainable tourism development.

Avatar

Published

on

Nearly 200 delegates, including leaders of national tourism organizations (NTOs) of ASEAN members and the regional groupings partners gathered in Vietnams northern Quang Ninh province on Monday, touching upon measures to speed up sustainable tourism development.

Addressing the meeting, Nguyen Trung Khanh, general director of the Vietnam National Administration of Tourism, said tourism sector makes contributions to better political and cultural understanding, and closer bilateral and multilateral cooperation not only among regional countries, but also among nations in the world.

At the 49th meeting of NTOs of countries of the Association of Southeast Asian Nations (ASEAN) which opened on Monday in Quang Ninhs Ha Long city, the delegates also highlighted contributions of tourism sector to gross domestic product.

Thailand Is Second Most Visited Country In Asia

Thailand attracted second highest number of tourists in the region with 32.58 million visitors in 2016

The Asia Pacific region accounts for 30 per cent of the world’s international tourism receipts

But Bangkok has been engulfed by smog for the past few days, raising questions about how seriously the authorities are taking the air pollution problem in the Thai capital.

Experts warn of the threat to public health if the unhealthy air quality levels persist, urging authorities to enforce mitigation measures to protect people’s health

It has been almost a week since the PM2.5 level in Bangkok rose significantly, forming a thick layer of smog over the city, but authorities are still scrambling to find solutions to help ease the problem

Spraying water over Greater Bangkok’s sky, trying to produce artificial rain haven’t brought any significant results so far.

The Asia Pacific region has outperformed all other regions in terms of growth, with international tourist arrivals increasing an average 7% per year compared to the world average of 4%.

The Asia Pacific region accounts for 30 per cent of the world’s international tourism receipts.

Thailand attracted second highest number of tourists in the region with 32.58 million visitors in 2016.

Source : English.news.cn

0/5 (0 Reviews)
Continue Reading

Banking

Moody’s upgrades Vietnam’s ratings to Ba3 and changes outlook to stable

Moody’s Investors Service (“Moody’s”) has today upgraded the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive

Boris Sullivan

Published

on

Moody’s Investors Service (“Moody’s”) has today upgraded the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive. (more…)


0/5


(0 Reviews)
Continue Reading

Most Read

Must Read

Subscribe via Email

Enter your email address to receive notifications of new articles by email.

Join 14,324 other subscribers

Trending