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0% import duty puts pressure on auto firms

by VTV417 October 2017 Last updated at 13:26 PM

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VTV.vn - There are only about 100 days left until the import duty for completely-built-up unit (CBU) autos is slashed to 0%, according to the ASEAN Trade in Goods Agreement (ATIGA).

Vietnamese manufacturers are under pressure to thrive amidst fierce competition, especially as localisation rate faces difficulties. The Ministry of Finance recently proposed a plan to remove the import tax on car components and exclude special consumption tax for domestically produced parts. These are incentives for auto manufacturers in the country to continue to develop amid the challenges of integration, before they can take advantage of it.