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TRIP Steel for Automobile Industry in Vietnam

Author

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  • Phuoc Quy Phong Nguyen
  • Cong Tri Tran

Abstract

When Vietnam joined the World Trade Organization (WTO), we made a non-discriminatory commitment between home-made goods and imported goods, so the great protection of domestic manufacturing enterprises is not can exist. Special consumption tax is only a historical period and will have to be adjusted, as this time transport infrastructure is still poor, people's living standards are not high. Particularly for domestically produced cars, it is not much affected by import tax, but still subject to SCT by the number of seats and cylinder capacity in accordance with the Law on Special Consumption Tax. As for value added tax (VAT), we should not mention much because most consumer products in Vietnam apply a VAT rate of 10%. The application of tariffs aims to encourage businesses to increase localization rates, and at the same time develop the automobile industry, aiming at export. Therefore, businesses need to try to save production and business costs, properly account market price. Vietnamese consumers are still "expecting" after 2018 to buy cheap cars because the import tax on complete cars will be reduced to 0%. However, in contrast, some comments also suggest that at that time most of the domestic car manufacturers and assemblers will turn into importers.

Suggested Citation

  • Phuoc Quy Phong Nguyen & Cong Tri Tran, 2019. "TRIP Steel for Automobile Industry in Vietnam," European Journal of Engineering and Technology Research, European Open Science, vol. 4(3), pages 152-156, March.
    • Handle: RePEc:epw:ejeng0:v:4:y:2019:i:3:id:61212
    DOI: 10.24018/ejeng.2019.4.3.1212
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    References listed on IDEAS

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    1. repec:zib:zjmerd:3jmerd2018-27-31 is not listed on IDEAS
    2. T.Nhung Le & M.Khanh Pham & A.Tuan Hoang & D.Nam Nguyen, 2018. "Microstructures And Elements Distribution In T he Transition Zone Of Carbon Steel And Stainless Steel Welds," Journal of Mechanical Engineering Research & Developments (JMERD), Zibeline International Publishing, vol. 41(3), pages 27-31, September.
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