Vietnamese people will have to wait more than 10 years to buy cars from TPP. Vietnamese consumers will have to wait more than 10 more years to buy cars from TPP.
Vietnamese consumers will have to wait more than 10 more days to be able to buy cars with 0% import tax rate from TPP countries. That is the assertion of Mr. Ha Duy Tung, Deputy Director of the Department of International Cooperation, Ministry of Finance when talking to the press about TPP commitments in the financial sector on the afternoon of November 9.
Deputy Director of the Department of International Cooperation, Ministry of Finance said that the above roadmap comes from the request for protection for domestic products.
According to Mr. Tung, domestically produced cars are mainly cars with a cylinder capacity of less than 3,000cc, so the time to eliminate import taxes will have a longer schedule, after 13 years from the date the TPP commitment officially takes effect.
For vehicles with larger capacity, the roadmap to eliminate import tax is 10 years after TPP officially takes effect.
With used cars, Mr. Tung said that in this TPP, countries have set a quota for used cars of 66 units in the first year the TPP takes effect and gradually increases to 150 units in the 16th year.
In addition, talking about the fierce competition in automobile products when Vietnamese businesses have to compete with the world's leading car manufacturing countries such as the United States and Japan, Mr. Tung said: "Actually, we are not too worried. We will open the auto market with Asean in 2018. If we pass this opening deadline, we will not be afraid of any market."
Commenting on the current auto market policy, Mr. Tung said that it will take about ten years to return to the 0% roadmap. "So the time is very long, plenty of time for us to develop. The important thing is whether we have a policy to let cars develop or not. If we can develop through the challenge of opening up in Asean, we have nothing to worry about," Mr. Tung said.
Speaking about the period of time TTP takes effect, the official time TPP takes effect, Mr. Vu Nhu Thang, Director of the Department of International Cooperation, Ministry of Finance has not yet determined because countries are still completing procedures. However, Mr. Thang predicts: TPP may take effect from 2018!
With the expected date of 2018, when TPP takes effect, it means that at least 10 more Vietnamese people will be able to "touch" cars with 0% import tax from TPP countries Japan and the United States.
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