Tens of thousands of tax-free Russian cars find their way into Vietnam
Russia proposes allowing businesses to import complete cars into Vietnam in 2019.
According to the Ministry of Industry and Trade, during the official visit to the Russian Federation from May 20-23, Prime Minister Nguyen Xuan Phuc agreed with the Russian side that Vietnam will create favorable conditions and promote the implementation of the Protocol between the Government of Vietnam and the Government of the Russian Federation on supporting the production of motor vehicles in Vietnam (automobile cooperation protocol with the Russian Federation).
Recently, the Ministry of Industry and Trade held a meeting with ministries and branches to promote this Protocol.
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| Russian cars once had a golden age in Vietnam |
The meeting's content was to discuss the contents proposed by the Russian side to facilitate the implementation of the Decree.
One is,SKD parts catalog.Second,Exemption from batch inspection for imported automobiles under quota and within the term of the Protocol.Third,Allowing the import of complete vehicles in 2019 while waiting for the Production Plan to be approved.Fourth,negotiate an amended Protocol to delay the initial timeline for localization requirements.
Previously, information about cooperation with Russia on automobile production in Vietnam has attracted much attention. Specifically, on December 27, 2017, at the headquarters of the Ministry of Industry and Trade, the signing ceremony of the Protocol amending the Protocol between the Government of Vietnam and the Government of the Russian Federation on supporting the production of motor vehicles in Vietnam (Amended Protocol) took place.
Russian automobile manufacturers (KAMAZ, GAZ, UAZ,...) will join Vietnamese partners to establish a number of joint ventures to produce and assemble trucks, vehicles with 10 seats or more, off-road vehicles and some types of specialized vehicles in Vietnam.
Automobiles produced by joint ventures must comply with the guidelines in Decision No. 08/2017/QD-TTgCP of the Prime Minister of Vietnam dated March 31, 2017, Decree No. 116/2017/ND-CP dated October 16, 2017 of the Government stipulating the conditions for production, assembly, import and business of automobile warranty and maintenance services and other relevant documents.
Under the amended protocol, Vietnam will allow joint ventures to import 2,550 complete vehicles and 13,500 sets of auto assembly parts duty-free from 2018 to 2022 to test market capacity and demand.
