Govt policy gives Vietnam's auto industry much-needed boost

Workers assemble a car at a Toyota factory in Vietnam.- VN/ANN

HANOI (Vietnam News/ANN): More than half a billion dollars in tax returns have been awarded to firms since 2017 in a bid by the Government to boost the country's auto industry and supporting industry, according to deputy director of the General Department of Vietnam Customs Lưu Mạnh Tưởng.

The tax incentives are in line with Government Decision 57/2020/NĐ-CP, a policy package aimed at bolstering the development of the auto industry in the next four years, he said.