Proposal of reducing registration fee for domestically-produced cars rejected
The Ministry of Finance has rejected the Vietnam Automobile Manufacturers’ Association (VAMA) proposal to continue reducing the registration fees for new domestically-produced cars by 50 percent.
Hanoi (VNS/VNA) - The Ministry of Finance has rejected the Vietnam AutomobileManufacturers’ Association (VAMA) proposal to continue reducing theregistration fees for new domestically-produced cars by 50 percent.
Theministry said the proposal was inappropriate in the current context, askingVAMA’s members to follow the existing regulations about registration fees.
Thereduction was one among VAMA’s proposals to the Government aimed atremoving difficulties for the automobile market which was hit hard by theCOVID-19 pandemic.
Thereduction of 50 percent in the registration fee for domestically-produced carswas introduced in the Government’s Decree No 70/2020/NĐ-CP which took effectfrom June 28 to the end of 2020.
VAMAsaid that before the introduction of this policy, many car manufacturers suchas Honda, Ford, Toyota, Mercedes-Benz and TC Motor must temporarily haltedoperation due to high inventories because the COVID-19 pandemic affected theirsales.
VAMA’sstatistics showed that the number of cars manufactured and sold in the firsthalf of 2020 fell by nearly 40 percent against 2019.
However,the reduction of the registration fee coupled with other Government’s supporthelped many manufacturers overcome the difficulty and maintain their productionand business. The number of cars produced from July to December increased by 32percent against the same period of 2019 to reach 111,551 units while soldincreased by 13 percent to 189.451 units, the association’s statistics showed.
TheMinistry of Finance estimated that the reduction of the registration fee by 50percent in the second half of 2020 caused a loss of around 3.7 trillion VND (159.5million USD) to the State budget.
Theministry previously said that it would not consider prolonging the policyof reducing registration fee for domestically-produced cars.
Theministry said that it would update the production of domestic car manufacturesas well as assessing the impacts of the COVID-19 pandemic to introduce policiesto promote the development of the domestic automobile industry./.
The domestic automobile market is expected to thrive in the second half of 2020 after a long stagnation due to the COVID-19 pandemic, driven mainly by the Government’s great support and strong discounts from dealers.
Sales of automobiles by members of the Vietnam Automobile Manufacturers’ Association (VAMA) in October surged 22 percent against the previous month to reach 33,254 units, indicating consumption is recovering to pre-pandemic levels.
A long Lunar New Year holidays, the ending of registration fee cut and impacts from COVID-19 pandemic are major reasons behind a strong fall of automobile sales in February, according to insiders.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Photo: VNA) 
