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Subscribe to
The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Sunday, June 1, 2025

Transport Ministry proposes incentives for EV makers and buyers

By N. Tan

Must read

HCMC – The Ministry of Transport has presented a proposal containing a range of incentives for electric vehicle (EV) manufacturers and buyers.

In a recent report submitted to the Government, the ministry suggested exemptions and reductions of registration and license plate fees for EVs, as well as easy access to credit and direct price subsidy for buyers. The ministry also recommended issuiing a policy for public funding towards the acquisition and usage of such vehicles.

According to the proposal, residents will receive financial aid totaling US$1,000 for each electric car bought, encouraging them to shift from fossil fuel cars to EVs.

The ministry’s proposal expands the scope of incentives for development, encompassing battery electric cars, fuel cell electric cars, and solar cars, instead of solely battery electric cars, as is the current practice.

Moreover, the proposal advocates for special investment incentives for businesses involved in manufacturing, assembling, and producing batteries for electric cars. It also seeks exemption and reduction of import duties on equipment, lines and parts used in the manufacturing and assembling of EVs and battery packs.

Regarding EV manufacturers, assemblers, and maintenance service providers, the ministry recommended a credit mechanism to support their operations, with priority given to manufacturing technology transfer. The proposal also includes a tax incentive policy for imported electric cars.

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