Automobile manufacturers are still waiting for support from the Government, specifically a cut of 50 per cent of the registration fee. Recently, the Government has asked the Ministry of Finance (MoF) to consider conducting a plan for a car registration fee cut. According to the finance ministry, a car registration fee cut should be applied to imported cars as well. The finance ministry reports that purchasing power and consumption are low against the period during the COVID-19 pandemic. In 2020, the registration fee cut made an impact on reducing State budget revenue of over VNĐ16 trillion.

Source: Viet Nam News June 03, 2023 06:54 UTC