Sunday, October 13, 2024 5:27:54 PM - Markets closed
VN-INDEX 1,288.39 +2.03/+0.16%
HNX-INDEX 231.37 +0.08/+0.04%
UPCOM-INDEX 92.60 +0.03/+0.03%
Govt’ reduces registration fees to boost car sales
vietnamnews - 8/31/2024 9:56:19 AM
 (0 ratings. You must sign in to rate.)
The Vietnamese government has announced a temporary 50 per cent reduction in registration fees for domestically produced and assembled cars.
 
 
Registration fees for domestic cars shall be halved for three months, from September to November this year. — Photo of Vietnamplus
 
The Vietnamese government has announced a temporary 50 per cent reduction in registration fees for domestically produced and assembled cars on August 30.
 
This policy, detailed in Decree No. 109/2024/ND-CP, will be in effect from September 1 to November 30, 2024. After this period, standard registration fees will be reinstated.
 
This move aims to stimulate the domestic auto market, which has seen a significant drop in sales—67,849 cars sold in the first half of 2024, marking a 15 per cent decline compared to the same period last year.
 
The reduction is also intended to counter the trend of declining domestic auto sales compared to imported vehicles, which have been outperforming local models.
 
The policy is expected to reduce state revenue by approximately VNĐ867 billion (US$34 million) per month. Current registration fees are 12 per cent in Hà Nội and Hải Phòng, and 10 per cent in HCM City, varying by locality.
 
This isn’t the first time the government has implemented such a measure; a similar fee reduction was applied in the last six months of the previous year. — VNS
 
Read original article here
Newer News
11/10 Retail credit remains under great pressure
11/10 Banks reduce profit expectations for 2024
10/10 Disbursement rate for public investment remains sluggish: MoF
09/10 State-owned banks struggle to increase capital
08/10 Central bank confident about credit growth this year
07/10 Promoting cashless payments for young
07/10 Transactions of gold on unofficial online market pose high risks
07/10 Banks not allowed to offer promotions to depositors
05/10 An open banking system is essential for a smart city
04/10 Banking and securities in spotlight for late 2024 market watch
Older News
29/08 Banks with outstanding loans reaching 80 per cent of allocated credit growth quota allowed to expand credit room automatically
29/08 Banks issue bonds to raise long-term capital, adhere to regulations
29/08 Central bank takes looser monetary measures
29/08 Solutions deal with inflationary pressure from wage increases
28/08 Tax watchdog wants to develop a portal to manage individuals and households doing e-commerce business
28/08 First bank to stop selling gold via website, officially selling gold via app
28/08 Credit recovers after July decrease
27/08 Long-term deposit interest rates reach 7.4 per cent
23/08 Vietnamese, Lao central banks discuss cooperation in using local currencies in bilateral trade
21/08 Banks to develop roadmap to comply with share ownership cap policy
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,288.39 +2.03/+0.16%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.