Local automobile company Hyundai Vina has requested the government to extend the restrictions recently placed on car imports to trucks and buses saying it would help curb the nation's trade deficit.
The authorized dealer of the South Korean carmaker said tightening controls over bus and truck imports will also help prevent tax evasion, news website VnExpress reported Friday.
A regulation effective June 26 stipulates that importers of cars with less than nine seats have to show proof that they are authorized dealers for the foreign car makers. The documents have to be notarized by Vietnamese diplomatic representatives in the country of origin.
Hyundai Vina suggested the same rule be applied for bus and truck importers. The company said the local automobile market has been "in chaos" and trade restrictions will restore order.
The proposal came after small car traders complained that they were facing a lot of difficulties. Many said they may have to shut down because they cannot provide required documents for customs clearance to import more cars.
The traders also said large authorized dealers and joint ventures of foreign carmakers will eventually take over the whole market.
Industry insiders are saying buses and trucks are necessary for public transportation and production purposes, so it's unreasonable to place restrictions on them.