Laos Temporarily Halts Import of Light Motor Vehicles

06/08/2024 16:06
Email Print 2275
KPL The government has announced a temporary halt on the import of light motor vehicles, including SUVs, sedans, vans, and pickup trucks valued at over US$50,000. This measure, issued by the Ministry of Industry and Commerce, aims to reduce importation and address issues related to foreign currency shortages, trade deficits, and substandard vehicles. Additionally, this initiative seeks to curb inflation.

(KPL) The government has announced a temporary halt on the import of light motor vehicles, including SUVs, sedans, vans, and pickup trucks valued at over US$50,000. This measure, issued by the Ministry of Industry and Commerce, aims to reduce importation and address issues related to foreign currency shortages, trade deficits, and substandard vehicles. Additionally, this initiative seeks to curb inflation.

The announcement specifies that the suspension applies to light motor vehicles using fossil fuels, hybrid engines (combining fossil fuel with electric power or renewable energies), and those with a CIF (Cost, Insurance, and Freight) value exceeding US$50,000. Companies without proper authorization or delegation from parent companies to import these vehicles will not be permitted to do so until they obtain documents proving compliance with technical and quality standards. Companies that have already ordered light motor vehicles worth over US$50,000 and have proof of advance payment through a commercial bank within Laos before August 6, 2024, must notify the Department of Foreign Trade, Ministry of Industry and Commerce, to receive exemption rights from this suspension. Orders placed after August 6, 2024, will not be exempt from this policy.

Light motor vehicles worth more than US$50,000 imported for essential work or related to international obligations, such as those for government use, embassies, or international organizations, can be allowed only with government approval.

The Ministry of Industry and Commerce will coordinate with the Ministry of Finance, Ministry of Public Works and Transport, the Lao Motor Vehicle Association, and other relevant sectors to review and improve the import reduction measures in line with international obligations and current conditions. They will also develop a systematic plan for the import of motor vehicles for 2025 to ensure balanced foreign payments.

This temporary suspension will be effective from August 20 to December 31, 2024, or until further notice.

KPL

ຂ່າວອື່ນໆ

    • Lao Government Receives Five Electric VehiclesGeneral

      Lao Government Receives Five Electric Vehicles

      1/14/2025 3:37:05 PM

      A handover ceremony for five electric vehicles donated by PLC Auto Car to the Lao government took place on January 13, 2025, at the Prime Minister’s Office, Vientiane. Representing the donor, Mr. Vu Xin Li, a member of the Executive Committee of PLC Auto Car, presented the vehicles to Mr. Bouakhong Nammavong, Minister and Head of the Prime Minister’s Office, in the presence of representatives from relevant offices.

    • DPM Kikeo Khaykhamphithoune Urges Prioritizing 5th Population and Housing CensusGeneral

      DPM Kikeo Khaykhamphithoune Urges Prioritizing 5th Population and Housing Census

      1/14/2025 2:11:35 PM

      Deputy Prime Minister Kikeo Khaykhamphithoune has called on relevant authorities to prioritize the 5th Population and Housing Census, recognizing it as a national priority and urging active engagement to ensure its success.

    • Rice Farmers’ Groups Receive Rice Transplanters in AttapeuGeneral

      Rice Farmers’ Groups Receive Rice Transplanters in Attapeu

      1/13/2025 8:47:16 PM

      Four rice farmers’ groups in Attapeu Province received rice transplanters during a handover ceremony held on Jan 11 in Samakhysay District, witnessed by representatives of relevant authorities.

    • Laos and Vietnam Launch Cross-Border QR Payment SystemGeneral

      Laos and Vietnam Launch Cross-Border QR Payment System

      1/13/2025 11:48:11 AM

      On January 9, Laos and Vietnam introduced a QR code payment system connecting their retail payment networks to simplify transactions for tourists and businesses.

    • 2024 Blood Donation Drive: Achievements and Plans for 2025General

      2024 Blood Donation Drive: Achievements and Plans for 2025

      1/12/2025 2:28:38 PM

      In 2024, the country achieved a significant milestone in its annual blood donation campaign, successfully collecting 78,000 blood bags. This effort saw a balanced contribution from both central and local levels, with 33,300 bags collected from the central level and 44,700 bags gathered from local level. The impressive collection underscores the nation’s ongoing commitment to maintaining an adequate blood supply for healthcare needs year-round.


Top