First auction of import tariff quotas on used cars organized

An auction of import tariff quotas on used automobiles was organized for the first time by the Ministry of Industry and Trade (MoIT) on August 14 , following commitments in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The number of used cars at the auction is 66, including 33 cars with engine capacity of over 3,000cu.m and 33 cars with engine capacity of 3,000cu.m or less.

Two business won the auction for getting auto import quotas under the witness of representatives of ministries, departments, enterprises and media agencies.

In April, the MoIT issued regulations and an invitation to hold an auction of import tariff quotas on used automobiles for this year.
The enterprises taking part in auctions must have automobile import licence issued by the MoIT. Each trader can bid on no more than 33 cars for all kinds of engine capacity at the auction.

Source: Sai Gon Giai Phong