Reduction in registration fees a boost for Vietnam auto industry

Right road: A worker walks past a Mercedes-Benz showroom in Hanoi. Vietnam's auto market is forecast to prosper again, according to a research firm, and the news comes as the Industry and Trade Ministry supports the reduction of automobile registration fees. — AFP

HANOI: The Industry and Trade Ministry’s support for the reduction of automobile registration fees is considered to have a positive effect on the auto industry in the context of a market facing difficulties.

A report by the ministry showed that in the first four months of 2023, automobile production fell by 19.3% compared to the same period last year.