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Vietnam Today

2M car imports down sharply

Released at: 20:46, 01/03/2018

2M car imports down sharply

Photo from baogiaothong.vn

Volume and value in January and February down significantly against December.

by My Van

According to estimates from the General Statistics Office (GSO, the number of imported motor cars in February was just 200, worth nearly $14 million, against 340 and $22 million, respectively, in January.

The two-month figure is down substantially compared to December, when 14,000 vehicles were imported worth $360 million.

The main factor in the decline was Decree No. 116, under which car imports face a range of difficulties.

Along with problems in import conditions, regulations on the registration of each type of car is also an issue.

The Tet holiday in February also disrupted import activities and customs clearance for vehicles arriving on Vietnam’s shores.

The Office of the Government held a dialogue recently with enterprises to identify ways to cope with difficulties facing importers from Decree No. 116. Many at the meeting believe imports will continue to remain low, at least in the first half of the year.

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