Automobile manufacturers in Vietnam have protested a Finance Ministry plan to cut taxes on imported trucks next year, saying such a move would push them to the verge of bankruptcy.
Hanoi’s state agencies and companies are now being forbidden from purchasing imported cars until the further instructions come down from the prime minister.
Viet Nam’s auto industry still needs Government support to develop a clear and long-term growth strategy, said the European Chamber of Commerce (Eurocham) in Viet Nam.
Pham Gia Auto Company last night opened a showroom for Chrysler, Jeep and Dodge vehicles in HCMC after the company had made a deposit of some US$2 million to become an official distributor of the U.S.-based Chrysler Group.
In November, Vietnam imported about 7,000 complete built unit (CBU) motorbikes valued at $8 million, strongly decreasing about 3,000 units and $3 million from the previous month, according to the general Statistic Office (GSO).