Automobile experts said automobile imports from ASEAN will continue to surge in the coming time. The sharp rise is attributable to tax cut from 50% to 40%. After the import duty from ASEAN will drop to 30% in 2017 and zero in 2018, the regional group will replace the Republic of Korea to become Vietnam’s major supplier of automobiles.
Meanwhile, Vietnam also spent US$322 million on importing electrical and electronic products from ASEAN, including US$244 million for the products from Thailand.
Imports of equipment and tools reached US$434 million, up 9.3% over the same period last year, of which US$179 million went to Thailand, US$102 million to Singapore and US$98 million to Malaysia.