Automobile Imports to Exceed $1 Billion

The Ministry of Industry and Trade has estimated the country will spend more than US$1 billion importing automobiles this year. 

The import volume of complete cars rise sharply in year-end months

Imports of complete cars are estimated to reach US$372 million, annual growth of 52 percent.
The import volume of complete cars has risen sharply with year-end reductions in car import tariffs that have surpassed Viet Nam’s WTO tariff-reduction commitments.

The ministry forecasts imports of complete automobiles will continue to increase rapidly in 2008, exceeding this year’s imports by US$431 million, an increase of some 16 percent over this year.

By V.L. – Translated by H.Yen

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