Gov’t okays halving registration fee for locally produced cars
VOV.VN - Elite members of the Government, during a meeting on August 15, agreed to reduce the registration fee for domestically produced and assembled cars by half.
The meeting examined the Ministry of Finance’s draft decree and agreed to halve the registration fee within three months instead of six months as proposed previously.
The elite members of the government asked the Ministry of Finance to garner opinions at the meeting and complete the draft decree before submitting it to the Prime Minister for approval and promulgation ahead of August 18.
They assigned the Ministry of Industry and Trade to work alongside relevant ministries, agencies and localities to urgently propose feasible and effective policies that encourage the manufacturing and use of electric vehicles in Vietnam. The report will be submitted to the government for consideration in September 2024.
They also assigned the Ministry of Construction, in collaboration with the Ministry of Justice, Ministry of Industry and Trade, Ministry of Transport and relevant agencies, to urgently review current legal regulations and make amendments and supplements related to the installation of charging stations for electric vehicles at petrol stations.
Vietnam’s automobile market enjoyed a 50% reduction in registration fees from the Government for domestically produced and assembled cars three times in 2020, 2022 and 2023, with each time lasting for six months.
Currently, the registration fee for new cars is 12% applicable in Hanoi and some large localities. Other provinces apply the 10% rate.
