14:42 | 11/07/2018 Car & Motor
Toyota Motor Vietnam (TMV) has imported 200 cars through Hiep Phuoc Port in HCM City after six months of suspending imports to Vietnam.
This is the first batch of automobiles from the Japanese automaker since the Government’s decree 116 went into effect early this year.
The firm previously said they were unable to meet Vietnam’s stringent checks of imported vehicles under Decree 116 on the production, assembly, import and warranty of automobiles, which was issued just as Vietnam eliminated tariffs on automobiles imported from ASEAN members.
Under which, this new batch of automobiles, imported from Thailand, will enjoy zero percent import duties and have to pay only special consumption tax and value-added tax.
The firm is making necessary import procedures for the batch, which is expected to roll out to the market next month.
According to report from the General Department of Customs, the total car imports reached 8,534 units, worth more than US$223 million. Of which, imports from Thailand made up 84.5 percent, reaching 7,212 units.