Taking effect on the signing date, the Decision No. 1829/QD-TTg issued on October 28, 2015 of the Prime Minister mentions on ratification of action plan for development of automobile and automobile part industry to implement Vietnam’s industrialization strategy within the framework of Vietnam – Japan cooperation towards 2020 and an orientation towards 2030.

Under the Plan, the Prime Minister requests the Ministry of Finance, Ministry of Labor, War Invalids and Social Affairs coordinate with related ministries and sectors to reasonably adjust values subject to special excise tax of domestically produced automobiles and imported automobiles; Simplify procedures for export, import, and transport of parts, components from export-processors to serve the domestic market; Reduce import duties on automobiles parts and components that cannot be produced domestically; periodically review and revise the list of automobiles parts and components eligible for reduced import duties; Promote support by automobile manufacturers for industrial facilities (especially maintenance and repair)…

The target by the end of 2020 is to healthily develop domestic automobile demand in a way that is appropriate for the infrastructure and avoids adverse effect on the environment and society; Reduce production costs, logistics costs, and automobile prices; Promote development of ancillary industries for the automobile industry; integrated into the regional and global manufacturing networks by taking Vietnam’s competitive advantage.

 

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