News

Attracting large investors to invest in electric vehicle production in Vietnam

Trường Lăng

June 7, 2022

News

Attracting large investors to invest in electric vehicle production in Vietnam

Trường Lăng

June 7, 2022

On the evening of January 26, the Government Office had just announced that it had issued document No. 632/VPCP-CN on a proposal to develop electric vehicle industry in Vietnam.

images M
Charging stations for electric cars in Vietnam

According to this document, TMT Automobile Joint Stock Company has sent a document to the Prime Minister to propose synchronous solutions to invite major investors in the world to invest in manufacturing electric vehicles in Vietnam, and make Vietnam an exporter of electric vehicles within the next 5 years.

In this regard, Prime Minister Pham Minh Chinh assigned the Minister of Ministry of  Industry and Trade to meet and discuss the proposals and recommendations of TMT Automobile Joint Stock Company to have a synchronous solution to develop electric vehicle industry, and at the same time, to attract big investors in the world to invest in producing electric vehicles in Vietnam, and make Vietnam an exporter of electric vehicles within the next 5 years; advise the Prime Minister on appropriate solutions in direction and administration.

At the first extraordinary session, the 15th National Assembly, the National Assembly approved the Law on amending and supplementing a number of articles of the Law on Public Investment, the Law on Investment in the form of public-private partnership, the Law on Investment, and the Law on Bidding, Electricity Law, Enterprise Law, Special Consumption Tax Law and Civil Judgment Enforcement Law.

In which, the content of amending and supplementing a number of articles of the Law on Special Consumption Tax clearly states: From March 1, 2022 to February 28, 2027 (for the first 5 years), battery-powered electric cars carrying people less than 9 seats shall bear the tax rate of 3%; The type of passenger transport from 10 to under 16 seats is subject to the tax rate of 2%; The type of passenger transport from 16-24 seats is subject to the tax rate of 1%; the type that both carries people and goods is subject to the tax rate of 2%.

Source : LaoDong

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