Five ports named for imported cars

As of July 29, 2010, all brand-new cars with less than 16 seats will be allowed into Vietnam via five international ports, according to a new regulation issued by the Ministries of Industry and Trade and Transportation.

The five ports are: Cai Lan in Quang Ninh province, Hai Phong Port in Hai Phong city, Da Nang Port, HCM City Port and Ba Ria-Vung Tau Port. Customs declarations must be fulfilled at these ports.

This is a measure to control auto imports, which is blamed in part for Vietnam’s trade deficit.

Customs bureaus can only complete clearance formalities for cars of less than 16 seats that have technical and environment certificates from the Vietnam Registration Agency.

Besides this measure, the Ministry of Industry and Trade suggested many other controls on imported cars, including higher taxes and fees as well as strict regulation of registration formalities. The General Department of Customs has issued the list of goods needing price controls to prevent trade fraud, including cars.

The number of autos imported into Vietnam in early June continued to fall. Banks have tightened loans for importing cars, auto purchasing power has dropped and the Ministry of Industry and Trade has implemented stricter measures.

Analysts predict that the car market will be gloomy for at least another three months.